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
Ten Cap has announced it will launch its first active ETF on the ASX later this month, expanding retail access to its flagship Australian equities strategy.
Flows into cash and fixed income ETFs rose by 46 per cent in October with investors particularly demonstrating a preference for Australian credit ETFs as they move away from AT1 bank hybrids.
Having identified Australia as a growth market, J.P. Morgan Asset Management has collaborated with Betashares to offer two multi-asset managed portfolios on its Direct platform, the first funds on the platform from an external manager.
First Sentier has announced it will transition the Stewart Investors investment management responsibilities to its affiliate investment team in light of three senior portfolio manager exits.
