Rothschild and US manager get together
Rothschild Australia Asset Management is to form an alliance in the Australian market with one of the world's top fund managers, Boston-based Putnam Investments.
Thursday, December 16th 1999, 12:00AM
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Rothschild plans to use Putnam's extensive and highly successful investment skill to manage a range of international equities, both retail and wholesale.
The firm expects that Putnam will manage more than A$800 million of Rothschild clients' funds.
As part of this strategic alliance, Rothschild also plans to market Putnam investment capabilities to discrete clients.
Rothschild anticipates this arrangement will begin operating around March.
Putnam is the fifth largest mutual fund company in the United States with more than $US360 billion funds under management. It has 393 investment professionals - including more than 40 global equity analysts - with an average of 10 years investment experience. It is a top performer across all asset classes, with the majority of its global and international funds rated four or five star by international researcher Morningstar.
"Putnam is, without question, one of the world's leading fund managers," Rothschild managing director Peter Martin says.
"Putnam, with its extensive global reach, broad and deep product line and outstanding track record, is a perfect fit for Rothschild and our clients," Martin says.
Putnam senior managing director Steven Spiegel, head of corporate development and international, said: "Rothschild is one of the premier names in the investment management industry, with a rapidly growing business in the Australian marketplace. We are pleased to form this relationship with Rothschild and look forward to its success and growth."
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