Nikko Asset Management Co., Ltd. (Nikko AM), and Tyndall Investments today announced the successful completion of the purchase by Nikko AM of Tyndall Investments from Suncorp.
The acquisition by Nikko AM of fund management company Tyndall Investments will help drive the company’s growth in the Asia Pacific region, according to Nikko AM’s Head of International and Institutional Businesses, Mr Charles Beazley.
Tyndall Investments Managing Director Mr Craig Hobart said that the combination of a significant domestic Australian and New Zealand investment management company with a dedicated Asian, international asset manager creates a powerful business proposition. It will help the Tyndall operation, adding value to existing client relationships and opening up significant new business opportunities in the region and beyond.
“We will maintain our highly rated investment approaches and portfolio management style and believe that Tyndall’s knowledge of Australian and New Zealand equities and fixed interest products is the perfect complement for Nikko AM’s expertise in Asian and emerging market assets,” Mr Hobart said.
Mr Beazley said Nikko AM had a well-defined “Multi Local” strategy in the region and has expanded its business footprint by establishing a local presence in the region’s core markets. The purchase of Tyndall Investments was an ideal fit for that strategy.
“Australia is a strategically important country regionally and an increasingly important source of investment capital and fund management capabilities. Combining our networks and knowledge with Tyndall’s expertise and strong track record creates a business proposition that is perfectly placed to meet the needs of investors in the region and beyond,” Mr Beazley said.
One of Asia’s leading asset management companies, Nikko AM also has offices in Tokyo, Singapore, London, New York and Hong Kong. In addition the firm owns 40% of Rongtong Fund Management Company, a leading investment management company in China. Last December a plan to acquire DBS Asset Management, the asset management arm of DBS Bank was also announced.
About Nikko Asset Management
Nikko Asset Management (Nikko AM) is a leading Asian investment management company. Headquartered in Tokyo, Nikko AM has total AUM of US$145 billion, with the planned DBSAM acquisition increasing this by US$7billion.
Established in 1959, Nikko AM is one of the largest asset management companies in Japan, with its investment products sold by over 200 distributors.
The firm currently also has offices in Singapore, London, New York, and Hong Kong, and the Tyndall Investments acquisition will add Sydney, Melbourne, Brisbane, and Auckland to Nikko AM’s global footprint. Nikko AM also has a 40% stake in Rongtong Fund Management Company, one of the largest Sino-foreign joint venture investment management companies in China.
Nikko AM offers retail and institutional investors access to a wide range of investment strategies, including equities and fixed income as well as traditional and alternative asset classes in multiple markets, developed and emerging. The company operates with a “multi local” approach, giving management in each market a high degree of autonomy to address local market conditions and client service needs, which the firm believes vary widely from market to market. Nikko AM’s stable management team has significant Asian regional and global expertise which has been key in achieving growth.
Nikko AM has been awarded a number of prestigious awards including in 2010 the Lipper Fund Award in the Equity Asia Pacific Ex Japan Category over three years and the Global Investor for Investment Excellence in Japanese Equities.
Since 2009 Nikko AM has been owned by The Sumitomo Trust & Banking Co. Ltd. and by its employees. Nikko AM continues to operate independently. For more information, please visit http://en.nikkoam.com.
About Tyndall Investments
Tyndall Investments is a leading investment manager with over $25bn of funds under management as at 31 January 2011 across both the Tyndall Investments Australia and New Zealand entities.
The business operates in both Australia and New Zealand markets and offers retail and institutional clients a broad range of investment capability across domestic and global fixed income, domestic equities (intrinsic value and core styles) and global equities, along with a global premia capability.
Tyndall Investments manages the 15th largest Australian and 5th largest New Zealand pool of investment funds.
Tyndall Investments, Australia
Tyndall Investments has a diversified suite of investment capabilities which cater for a broad range of retail and wholesale clients across a variety of asset classes and investment strategies. Through a combination of strong investment performance and a dedicated sales and marketing team, these products enjoy strong support from major dealer groups, advisers, platform providers, retail and institutional asset consultants and retail investors.
Tyndall Investments’ performance and its dedicated team has resulted in it, and its products, holding strong investment ratings by asset consultants and validated through numerous major industry accolades in recent years. Recently, Tyndall Investments won the in Money magazine’s 2011 Best of the Best award for Australian Fixed Interest Funds; won the Australian Fixed Interest category in the 2010 S&P Fund Awards and was also a Finalist in the Award’s Australian Equities – Large Cap and Finalist in the Fund Manager of the Year categories. For more information, please visit www.tyndall.com.au
 Tyndall Investments includes both the Australian and New Zealand business and trades as “Tyndall Investments” and “Suncorp Investment Management” in Australia and “Tyndall New Zealand”.
For more information please contact:
Craig Hobart – 02 8275 3668