Ashburton Investments, the asset management unit of South Africa’s FirstRand Group, has joined forces with Fidelity International, for management of its multi-asset funds.
Under the partnership, Ashburton will manage global macro views, tactical asset allocation and client distribution of the fund range.
Fidelity will be responsible for advisory services on security and fund selection, and implementation of asset allocation decisions.
The companies will assume joint responsibility for strategic asset allocation.
Ashburton Investments CEO Boshoff Grobler said: “Ashburton Investments’ multi-asset funds have long been an attractive diversification strategy, having delivered consistent inflation-beating returns for investors. 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 partnering with Fidelity International.
“Fidelity’s market-leading research capability and specialist knowledge in global asset allocation and security selection, significantly strengthens our proposition.”
Fidelity Multi-Asset CIO James Bateman 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.”