Jun 30

ING sells Australian funds management business to UBS

Looks like there’ll be a fair few redemptions coming up for ING’s and maybe even UBS’s managed funds because today ING have sold their Australian funds business to UBS. This is no comment on the quality of either team, but there is bound to be some unrest over the coming months as teams are merged and synergies are found.

The common belief is that when key people leave so too does performance, but even if performance doesn’t suffer, there will be some change in the style of the investmetn management…so…the investment exhibits different behaviour and the fees you pay as an investor are now paying for something most likely a little different.

I’m guessing the Research Houses will most likely be issuing HOLD ratings across many funds and this will be the catalyst for the redemptions as adviser’s recommend funds are switched to a more stable team…ditto for insto funds.

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