Fund managers pivoting to wholesale over retail investors; What causes an asset management M&A deal to fail?

Australian investment managers are pivoting away from retail investors and towards the allure of private clients, according to Sentient Group, while the sophisticated investor test remains under fire.

“Unacceptable circumstances”, a lack of shareholder support and Chinese regulatory delays are among reasons for problems with M&A deals in the fund management industry recently.

Australian Ethical has reported a 15 per cent FUM rise as it scales up the business to benefit from a mega trend of responsible investing.

Magellan has detailed its plan to revamp its business in the US, with executive chairman Andrew Formica saying he can see a “tremendous opportunity” for the firm.

Janus Henderson has made two new appointments, including a newly created role, to boost its presence with financial advisers and intermediaries in Australia and New Zealand.

Global X has appointed a new chief executive from Goldman Sachs Asset Management as it seeks to be a “clear-cut leader” in the ETF space.