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Australian Ethical has announced it has entered into a binding agreement to acquire a sustainable fixed income manager, increasing its FUM by around $2 billion.
The acquisition, when completed, will see Australian Ethical grow its funds under management to circa $12.3 billion.
Australian Ethical has struck a deal to acquire Altius Asset Management, the sustainable fixed income business of Australian Unity, a move that will see its funds under management (FUM) swell by $2 billion.
Sustainable investing is going to be a prerequisite in 10 years’ time in order for companies to access capital, according to an asset manager. Altius Asset Management chief investment officer Bill