Challenger's $72 billion multi-boutique business Fidante Partners has hired from AMP Capital's Asian business to set up a Singapore office.
Beng Neoh worked at AMP Capital for about 22 years, ending as managing director, North Asia in 2019. He will now lead Fidante's efforts in Singapore.
Challenger's chief executive for funds management Nick Hamilton said the firm sees opportunity for fixed-income strategies and in the region.
This includes Ardea Investment Management and CIP Asset Management.
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Fidante's current overseas presence includes offices in Europe and Japan.
The move is similar to other Australian fund managers, who have increasingly looked to add overseas clients, for reasons including in-housing of investments at superannuation funds.
Magellan was getting most of its institutional flows from overseas investors as at February 2020; Pinnacle Investment Management last year added New York-based distribution staff; and Channel Capital partnered with the former chief executive of the US$613 billion Mellon Investments to start a new funds management incubator based in New York.
Fidante Partners ended 2020 with $5.7 billion in net inflows in the last six months. About 49% of its total assets are from fixed income strategies.