The boutique will adopt an active, benchmark-unaware approach in Asian equities and will seek opportunities across the Asia region with an initial focus on Greater China, Korea and Singapore.
This will be expanded as market conditions evolve to include other countries in the region such as India. The first Seres Asian equities fund is expected to be launched in Australia at the beginning of 2010, initially available only to Australian investors.
Erlanson said Seres will take a bottom-up stock selection approach overlaid with macro-economic views to determine country and sector allocations.
Through the JV, AUI will provide a range of support services as well as distributing Seres’ products in Australia to both the institutional and retail markets.
Seres is AUI’s fifth JV business, joining Acorn Capital, Vianova Asset Management, Platypus Asset Management and Wingate Asset Management. It has in-house expertise in property and mortgages, and recently acquired investment bonds business Lifeplan.
