IOOF exits its Australian Ethical stake
IOOF has exited its stake in Australian Ethical.
IOOF has announced to the Australian Securities Exchange that it has sold approximately 14.2 million shares of its minority stake in Australian Ethical reducing its stake in the fund manager to just 4.9%.
IOOF chief executive, Renato Mota said the sale was consistent with IOOF’s transformation strategy which included a simplification of the business.
“We remain committed to providing access to ethical investment for the benefit of our clients as well as generally,” his announcement said. “Australian Ethical’s award winning funds will remain available alongside several other ethical investments on our platforms.”
Recommended for you
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
The alternative asset manager has expanded its Singapore office with a head of Asian distribution, representing a “critical step” for the Asian business, where it is seeking to launch new offerings.
