Australia’s Ironbark Asset Management has acquired Deutsche Asset Management (Australia (DAMAL).
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The acquisition will see Ironbark take on the role as responsible entity for DAMAL’s existing funds, while the investment management teams remain the same.
Upon completion of the acquisition, Ironbark will rename DAMAL as Ironbark Asset Management (Fund Services). The funds will also be renamed and a new Product Disclosure Statement (PDS) will be issued for each fund.
In addition, Ironbark has also lowered the minimum investment amount to $20,000 and top-ups can be made at a minimum of $1,000.
Chris Larsen, CEO for Ironbark, said: "Since 2009, Ironbark has promoted, distributed and serviced Deutsche Asset & Wealth Management’s retail funds amongst investors and this acquisition was a natural progression of our relationship with Deutsche Asset & Wealth Management.
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By GlobalData"The investment management teams of the funds will remain the same. We believe the investment teams, styles and processes of Deutsche Asset & Wealth Management and Global Thematic Partners are highly regarded and we look forward to working more closely with them to seek to add value to investors’ portfolios.
"The acquisition enhances and strengthens our value proposition which is to offer clients best in class asset management solutions. With approximately $3 billion of assets under management, this acquisition is a major milestone for our business since we launched in 2009. We continue to strive for excellence in customer service and provide investors with investment solutions with established strategic partners." Larsen added.
