Zenith acquires NZ’s FundSource
Research house, Zenith Investment Partners has announced a key expansion acquisition.
The company announced today that it has entered into a conditional sale and purchase agreement with NZX Limited to acquire New Zealand’s leading research business, FundSource, as it expands into offshore markets.
FundSource is one of New Zealand's longest standing investment research houses, having supplied analysis to financial advisers and fund managers since 1983.
The announcement said FundSource is a well-known and trusted brand in the New Zealand market, monitoring approximately 700 funds (unit trusts, KiwiSaver schemes, personal schemes and insurance bonds) totalling over $100 billion in NZ Household savings.
It said Zenith would continue to build on the brand excellence FundSource had become known for in the NZ market over the past 35 years while also expanding upon the suite of services available to users.
Commenting on the acquisition, co-founder and director, David Smythe said Zenith was committed to growing the NZ market for funds research and saw a great opportunity to bring together the synergies of a strong brand in the NZ market with the size and scale of our Australian operation from a research and analytical perspective.
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