Henderson close to approval for local fund

By InvestSMART · 27 Nov 2013

By InvestSMART ·
27 Nov 2013

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Ten years after listing on the ASX, Henderson Group will set up a fully fledged investment business in Australia after seeking approval from the corporate regulator to sell its funds directly to local investors.

The global fund manager may receive licence approval from the Australian Securities and Investments Commission over the next few weeks to launch its first Australian-domiciled investment fund.

It is understood the corporate regulator is close to giving the green light to the fund manager, which has a $2.8 billion market capitalisation and is looking to unveil a global equities fund later this year.

Henderson's move to target Australian investors will inject more competition into the global equities funds management market, and could mount challenges to high profile players such as Magellan Financial Group and Kerr Neilson's Platinum Asset Management.

"To be licensed locally is significant for us," Henderson Australia managing director Rob Adams said.

Henderson, publicly listed in Australia and the UK, was formed when AMP split its Australian and UK businesses a decade ago.

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Frequently Asked Questions about this Article…

What is Henderson Group's latest move in the Australian investment market?

Henderson Group is setting up a fully-fledged investment business in Australia and is seeking approval from the corporate regulator to sell its funds directly to local investors.

When is Henderson Group expected to receive approval for its Australian investment fund?

Henderson Group may receive license approval from the Australian Securities and Investments Commission in the next few weeks to launch its first Australian-domiciled investment fund.

What type of fund is Henderson Group planning to launch in Australia?

Henderson Group is planning to unveil a global equities fund later this year, targeting Australian investors.

How might Henderson Group's entry into the Australian market affect local investors?

Henderson Group's entry is expected to inject more competition into the global equities funds management market, potentially challenging high-profile players like Magellan Financial Group and Platinum Asset Management.

Why is local licensing significant for Henderson Group?

According to Rob Adams, Henderson Australia's managing director, being licensed locally is significant as it allows the company to directly engage with and offer its investment products to Australian investors.

What is the market capitalization of Henderson Group?

Henderson Group has a market capitalization of $2.8 billion.

How was Henderson Group formed?

Henderson Group was formed when AMP split its Australian and UK businesses a decade ago, and it is publicly listed in both Australia and the UK.

Who are the main competitors Henderson Group might challenge in the Australian market?

Henderson Group's move into the Australian market could challenge high-profile players such as Magellan Financial Group and Kerr Neilson's Platinum Asset Management.