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CFS Global and Monegy announce strategic alliance
Colonial First State Global Asset Management (CFS Global) and US-based Harris Investments Management's Monegy have entered into a strategic alliance.
The move will see Monegy take on the role of sole specialist high yield manager in North America for CFS Global, providing management services on the high yield assets of particular funds. CFS Global said it was encouraged to undertake the deal because of Monegy's specialisation in high yield asset management in North America.
"This alliance acknowledges the close relationship built in the past eight years between the global fixed interest and credit team within Colonial First State Global Asset Management and Monegy," said Sadhana Valia, president and senior portfolio manager at Monegy.
"Our relationship has centred around a shared focus on managing high quality, defensive portfolios with an emphasis on optimising risk-adjusted returns and minimising downside risk."
A media statement on the development said the alliance would allow for "a closer and more effective integration of the two companies to provide enhanced global fixed interest and credit solutions for institutional investors".
CFS Global's team manages $27.6 billion in fixed interest and credit assets for both institutional and retail investors. Monegy manages over US$1.1 billion in high yield securities.
AUTHOR
Amal Awad
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