Despite being a growing reservoir of funds under management, this critically important pool of capital is confronting mounting problems collating and disseminating key data in a timely manner.
The ratings house is pinning its growth strategy on a revamped methodology that increases the emphasis on governance to 25 per cent – a timely move considering APRA’s proposed reforms.
New marketing firm gets behind ex-ING managers
(Pictured: Andreas Faeste)
Andreas Faeste, an experienced funds management marketer, has formed his own firm, Breakwater Advisory, and will represent in Australia the diversified former ING subsidiary in the US, the publicly listed Voya Investment Management.
Voya has been doing business, as ING, in Australia for more than 15 years, mainly through private placements of Australian corporate debt issuances. While Voya covers all the major asset classes, its senior loans team is considered one of the best and most established in the market.
Announcing the deal, Faeste said: “Voya IM is distinguished by its stable investment team, competitive investment performance and its partnership approach to business. As a significant co-investor in many of its strategies, Voya is committed to reliability, transparency and performance – values that we at Breakwater Advisory share.”
Faeste has had a 20-year career in funds management marketing, including a stint as head of institutional business at ING in Australia and before that at Westpac and MLC. He has been an independent consultant to fund managers for the past several years.
Breakwater is the latest third-party marketing firm in Australia, a part of the industry which seems to be going through a resurgence. Notwithstanding strong competition, many international managers, which haven’t already done so, are looking to get a foothold in the Australian market and third-party marketing is seen as a cost-effective way to do that.
Faeste said Voya IM would now expand its services in Australia to cover an array of asset classes, including multiple fixed income segments of the market, as well as equity and multi-asset strategies and solutions.
ING’s US investment management business became Voya Investment Management on May 1 this year, following the rebranding of its parent company, ING US Inc, to Voya Financial, Inc in April. The name change followed Voya Financial’s separation from ING Group and initial public offering in May last year. As of March 31, 2014, Voya IM has more than $200 billion in assets under management, with $127 billion managed for external institutions.
Commenting on Voya IM’s appointment of Breakwater Advisory as its Australian representative, Bas NieuweWeme, Voya IM managing director and head of institutional distribution said: “Voya IM long ago identified Australia as an attractive and fast-growing market, and we are excited to be able to offer our services to Australian institutional investors. We believe that our unique expertise in several asset classes, including senior loans, mortgage derivatives, commercial real estate and private and public debt investments, can help Australian investors meet their goals. Having previously worked closely with Andreas, we are very confident that he is the right person to convey the strength of our firm – being a reliable partner committed to reliable investing.”
