Employees buy Julius Baer Investments Limited
Specialist fixed income and currency manager Julius Baer Investments Limited has been acquired by a group of managers and employees of holding company Julius Baer Holdings.
The group has taken a 90 per cent equity stake in the UK-based subsidiary, which, effective from January 11, has been renamed Augustus Asset Managers Limited (AAML), with total assets under management of about US$9 billion.
AAML, which in Australia has a partnership with Sydney-based manager Aurora Funds Management, will continue to be managed by a management committee headed up by president Edward Dove and chief executive Tim Haywood.
The partnership involves Aurora Funds Management providing AAML with the infrastructure and administration for the Australian domiciled fixed interest fund — Aurora Absolute Return Fund.
AAML will continue to focus on the fixed income and currency asset management products that were developed as Julius Baer Investments Limited, according to Dove.
“We will continue to build our business across the entire spectrum of fixed income and currency products, from long-only to absolute return and single strategy hedge funds.”
Recommended for you
ASIC has accepted a court enforceable undertaking from a Perth-based company auditor who failed to adequately conduct multiple audits on an advice firm that receivers say has $100 million missing.
After a brutal month for adviser numbers, the net loss for June now stands at more than 100 advisers, but the financial year is still on track to end in positive territory.
Two advice platforms have been identified by Adviser Ratings as standouts for efficiency as time-pressured advisers become evermore fickle in their platform selection.
Private wealth manager Escala Partners has increased its alternatives allocations to more than a third in the past three years, describing the asset class as offering “fertile ground” for diversification.
