Perpetual Corporate Trust has entered into a partnership with FundRock Management Company.
The collaboration will enable clients from both firms to leverage the services offered in their respective core markets.
FundRock, which has a presence in Ireland, UK, Luxembourg and Singapore was established in 2004 as part of RBS. It now services over 300 funds and AUD $76 billion (€47 billion) of assets under management.
Glen Dogan, head of sales and relationship management at Perpetual Corporate Trust, said: “Australia represents a compelling opportunity for global investment managers seeking to expand into new markets.”
He added: “Australia’s investment pool is significant by global standards and is expected to continue its solid growth, attracting many global managers to our market. At the same time, there is a shift among Australian investors towards global investing to balance overexposure to domestic equity and property assets. This new alliance deals directly to this trend.”
“We are looking forward to supporting FundRock’s clients to expand into Australia and also bringing this partnership to life in Asia, where we have a presence in Singapore.”
Speaking of the agreement, Revel Wood, CEO at FundRock said: “We were attracted to Perpetual Corporate Trust as a partner given their outstanding reputation as the leading provider of corporate trustee services to local and global fund managers and institutional investors.”
He concluded: “Given the complementary nature of our business models, we are excited to be entering into this agreement. We see this partnership as an opportunity to bring tangible benefits to our client bases and we are also looking forward to exploring the depth of this new partnership, including the development of combined product offerings.”
