Natixis buys Investors Mutual

04-Oct-2017

By Megan Tran

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International asset management firm Natixis Global Asset Management has purchased a majority stake in Australian equities fund manager Investors Mutual Limited (IML).

The new agreement will see Natixis acquire all the shares in IML that are currently held by fund manager Pacific Current Group, along with a portion of the shares in IML held by its founder Anton Tagliaferro.

The purchase, which is valued at up to $155 million, will see Natixis own a majority 51.9 per cent stake in the local funds management house.

The transaction is expected to close this month, and IML’s management team will remain shareholders in the business alongside Natixis.

Natixis confirmed that IML would also retain its current investment philosophy, management team and daily operations under the terms of the deal.

IML investment director Anton Tagliaferro would continue to run the business, supported by head of research Hugh Giddy and other senior leaders, the company said.

Commenting on the acquisition, Natixis chief executive Jean Raby said IML had a strong track record as one of Australia’s most consistent managers, making the group a significant contributor to the group’s multi-affiliate model, which already included investment managers such as H20 Asset Management and Harris Associates.

The group’s head of Asia Pacific Fabrice Chemouny added that IML shared Natixis’ core values of consistency, transparency and putting clients first.

“The Australian wealth management industry in particular is highly sophisticated, and IML’s views on portfolio construction and risk management align with Natixis Global Asset Management’s durable portfolio construction approach” Chemouny said.

The IML purchase comes after Natixis’ 2015 Sydney bureau establishment, a move which solidified the company’s ambition to expand its Australian and Asian footprint.

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