Ashburton Investments partners with Fidelity International to enhance offshore multi asset range

Ashburton Investments, the asset management arm of the FirstRand Group, has entered into a strategic partnership with Fidelity International, a global asset manager with US$324bn assets under management.

The partnership, which applies to Ashburton Investments’ international multi asset funds* totalling US$850m, combines Ashburton Investments’ longstanding heritage in managing multi asset portfolios with Fidelity International’s highly experienced and research-focused multi asset team.

The funds’ investment objectives remain unchanged, with Ashburton Investments maintaining responsibility for global macro views, tactical asset allocation and client distribution. This enhanced offering sees Fidelity International’s multi asset team provide advisory services on security and fund selection, as well as support and implementation of asset allocation decisions. Strategic asset allocation is driven jointly by both firms.

Boshoff Grobler, CEO of Ashburton Investments, said: “Ashburton Investments’ existing international multi asset funds have long been an attractive offshore diversification strategy for South African investors with consistent inflation-beating returns.

“In the face of changing global business models in an increasingly complex world, we believe we can further enhance the quality of our funds by teaming up with a global strategic partner with a market-leading research capability and specialist knowledge in global asset allocation and security selection.

“Fidelity International is the perfect culture and knowledge fit for us. We are very excited to be working with them as an extension of Ashburton’s investment team.”

Jeff McCarthy, Chief Strategy Officer of Ashburton Investments, said: “With access to Fidelity’s global research network and expertise, Ashburton Investments will continue to build on our 36-year track record in global investing. This will allow us to create an even better offering for our investors.”

James Bateman, Chief Investment Officer for Fidelity Multi Asset, said: “This strategic partnership with Ashburton Investments reflects the depth of both of our firms’ ambitions in offering clients world class investment portfolios which truly reflect their needs. I am pleased Ashburton has recognised Fidelity’s multi asset business as the ideal partner to deliver premier investment solutions for their clients, particularly our leading asset allocation, strategy research and security selection capabilities, and our ability to work in close collaboration with our clients.”