After a nine month review process, delayed by imminent acquisition news, the AFS Group has reappointed Oasis Asset Management as the platform provider for its Strategy Portfolio (SPL) platform.
Peter Daly, managing director of AFS, said the dealer was looking at acquisition opportunities to help it expand nationally, and to improve its bottom line, and would make an announcement in coming weeks of an acquisition that would do both of these. This acquisition business has delayed the review process of its superannuation platform with Navigator and Oasis both presenting competitive offers, Daly said. AFS was Oasis’ first client and it makes up one quarter of all of Oasis’ business. Daly said AFS benefited from a preferred relationship with Oasis and could contribute to the product development and refinement, however with a larger player he feared the group could get lost in the decision making process. SPL, which was established by AFS advisers in 2000, now has more than $1.4 billion in funds under management.
17/07/2007
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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