Pendal Group, Parent Company Of J O Hambro Capital Management, Completes Strategic Acquisition Of Thompson, Siegel & Walmsley LLC
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BOSTON, July 22, 2021 /PRNewswire/ Pendal Group Limited (Pendal), parent company of J O Hambro Capital Management Limited (JOHCM), today announced the completion of its acquisition of Virginia-based, value-oriented investment management company, Thompson, Siegel & Walmsley LLC (TSW).
Pendal Group CEO, Nick Good, said, We are thrilled to welcome the TSW team and its clients to Pendal Group. Client support has been incredibly strong, with 96% of TSW client consent received in just 11 weeks. It is testament to the compatibility and drive of the two organizations and their teams that we have completed the acquisition well ahead of original expectations.
Pendal MicroCap Opportunities was the best-performing fund with returns of 45.7%.
Performance of Pendal funds versus Australian equities sector over three years to 30 June 2021
Over the last three months to 30 June, 2021, the MicroCap Opportunities was again the best-performing fund with returns of 12.4% followed by the MidCap fund which returned 8.7%.
Performance of Pendal funds versus Australian equities sector over three months to 30 June 2021
Pendal Australia funds under management (FUM) rose from $34.4 billion at the end of March to $37 billion, although the institutional channel saw outflows of $0.4 billion which Pendal said was mostly in cash and fixed income.
Group FUM rose from $101.7 billion to $106.7 billion due to investment performance, higher markets and a positive currency effect.
Pendal Group (ASX:PDL) share price climbs higher despite net outflows
Cash is going out, but investments are going up…
Mitchell Lawler is a site writer at The Motley Fool Australia. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey.
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Pendal Group Ltd(ASX: PDL) share price is moving onwards and upwards today. This movement follows the global investment manager’s funds under management (FUM) update for the quarter ending June 2021.
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BOSTON, May 9, 2021 /PRNewswire/ Pendal Group Limited (Pendal), parent company of J O Hambro Capital Management Limited (JOHCM), today announced that it has entered into an agreement to acquire 100% of Thompson, Siegel & Walmsley LLC (TSW), a Virginia-based value investment manager, for $320 million.
Established in 1969 and headquartered in Richmond, VA, TSW operates primarily in long-only equity (U.S. and International), with $23.6 billion of assets under management.
1 The deal will more than double assets under management by Pendal s U.S. business, which will increase from $21.1 billion to $44.7 billion.
2
Pendal Group CEO, Nick Good, said, This is a compelling opportunity to acquire a highly successful complementary business, which will create immediate value and facilitate our growth opportunities in the US market. This acquisition significantly broadens the range of product solutions we can offer clients via an expanded distributio
“Only the Westpac Legacy book and the OIECs experienced net outflows, and the level of outflow among the OEICs was markedly reduced,” Pendal’s chief executive, Nick Good, said.
“Importantly, we are now seeing a significant improvement in investment performance across the business, with many of our key strategies in the top quartile over the past year. Also of note is the strong flows into our recently launched Regnan Global Equity Impact Strategy,” he added.
As at 31 March, 2021, the status of Pendal Australia’s performance fees for the performance year ending 30 June 2021 stood at $16.8 million and the company stated that its performance fees would not be determined until the end of the performance period and would remain highly variable until that time.