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Ignis enters distribution deal with Australian AM group

Ignis enters distribution deal with Australian AM group

Ignis Asset Management has signed a partnership with Tyndall Investment Management to expand its funds business into Australia.

The strategic alliance means the UK firm will sub-advise investment strategies exclusively with the Sydney-based group into the Australian institutional market.

Initially, Tyndall AM will offer the Ignis Absolute Return Government Bond, run by Citywire A-rated manager Russ Oxley, and Liability Driven Investment (LDI) solutions to institutional investors.

The Australian group may also consider other Ignis investment strategies, such as emerging market debt, as part of its multi-manager and World Series Fund platform offerings in future.

Another fund that has been put forward for distribution is the Ignis Absolute Return Emerging Market Debt Strategy.

Part of Japanese firm Nikko Asset Management, Tyndall AM manages €16.5 billion on behalf of institutional, insurance and private wealth clients in Australia.

Commenting on the partnership, Allan MacLeod, Ignis's head of global accounts, commented:

'At nearly £1 trillion, the Australian pension market is the fourth largest in the world due to the compulsory superannuation savings requirement and is an attractive market for Ignis where our expertise and heritage in managing life insurance and pension fund accounts is especially well suited.'

'Australia is a key strategic objective for us. We felt that working with a strong local partner was the most attractive way of accessing it.'

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