Standard Life looks to Australian growth
Global asset manager, Standard Life Investments is looking to further grow its presence in Australia on the back of its partnership with Challenger Limited to launch a global bond product directly targeting Australian retirees.
Standard Life Investments head of Australasia, Simone Bouch has told Money Management that while the new product, the Challenger Absolute Return Global Bond Strategies Fund, would be marketed under the Challenger brand, it would be well understood that Standard Life was the investment manager.
Bouch likened Standard Life's involvement with Challenger to similar partnerships it had entered into both the US and Japan.
"Partnerships are important to us," she said referencing the firm's strategic alliance with Sumitomo Mitsui Trust Bank in Japan — something which had seen Standard Life grow its team in that country after receiving an Investment Advisory and Agency Licence from the Financial Services Agency in Japan in mid-April, last year.
Bouch said that, similarly, Standard Life had cemented a long-standing relationship with US financial services giant, John Hancock.
She said the Challenger relationship reflected the firm's desire to find the right partners.
Bouch said the relationship with Challenger had been around 18 months in the making but she was confident the new product would be well received in the retail market.
"The fund has already been well received by institutional investors here in Australia. With over $2 billion in assets under management globally and a strong performance track record behind it, we are confident that the strategy will attract a growing Australian retail investor base," she said.
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