POWERED BY MOMENTUM MEDIA
Macquarie tipped to buy US asset management group
Reports out of the US are pointing to the possible acquisition of asset management group Delaware Investments by Macquarie Funds.
Delaware Investments is an asset management company based in Philadelphia that offers products and services to institutional and retail markets. The group manages more than $120 billion in assets and has more than 150 portfolio managers, analysts and traders.
Delaware Investments is the asset management arm of Lincoln Financial Group, also known as the Lincoln National Corporation, listed on the New York Stock Exchange.
While these two groups have had a 14-year relationship, it appears Lincoln is looking to sell assets to improve its balance sheet. Lincoln Financial Group last week reported a net loss of $161 million for the second quarter of 2009.
There has been no public indication of the price Macquarie might pay for the acquisition, nor when it is tipped to occur. Aberdeen Asset Management has also been reported to be in the running on the deal, however it appears to have now pulled out of the race.
Delaware Investments provides asset management services for institutional investors, such as pension funds, as well as for third-party clients including banks and insurance companies, among others.
The group offers products including managed accounts, insurance products, retirement products and mutual funds to its retail client base. While the group communicates directly with its retail clients, it also refers them to advisers where required.
Lincoln Financial Group is a diversified financial services company also based in Philadelphia. With Delaware on its books, the group has $181 billion in assets under management.
Recommended for you
New research has shown that investing in alternative assets and using active management has, to this point, delivered strong results for Australian super funds.
Australia’s $4 trillion superannuation industry is fundamentally reshaping the nation’s external accounts, setting the stage for a more sustainable current account surplus despite weaker commodity markets.
Rest has expanded its portfolio of renewable energy infrastructure by supporting a Victorian solar farm and battery project.
Economic growth was weaker than expected, once again highlighting an economy largely sustained by population growth and government spending.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
