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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.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Australian Ethical has reported a 15 per cent FUM rise as it scales up the business to benefit from a mega trend for responsible investing.