Henderson completes IOOF/Perennial transaction
Henderson Group this week confirmed it had completed its acquisition from IOOF Holdings Ltd of the two Perennial funds announced earlier this year.
The UK-based company said that, further to its 2 June, 2015, announcement it had now completed the acquisition of Perennial Fixed Interest Partners Pty Ltd (PFI) and Perennial Growth Management Pty Ltd (PGM) from IOOF and the employee-shareholders of each company.
It noted that the two companies had combined Assets Under Management of $10.8billion and that the acquisition was in line with Henderson Group's strategy to grow and globalise its business.
"They bring forward the business plan for Henderson Australia, adding two highly regarded investment teams to the business and provide Henderson Australia with significantly extended distribution reach," the announcement said.
It said all investment team members of both PFI and PGM were now employed by Henderson but that the investment processes of the PFI and PGM funds and mandates would remain unchanged but that, following completion, the funds had been re-branded from Perennial to Henderson and all mandates had been novated to Henderson.
The announcement said that, separately, the 90 West Global Natural Resources Fund had been re-branded to Henderson and the 90 West investment team were now known as the Henderson Global Natural Resources team, following completion of the acquisition of 90 West Asset Management, as announced in June.
It said that to support the new and existing investment teams based in Australia, Henderson Australia had also added new hires to its distribution, operations, finance, and risk management functions.
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