Zenith Investment Partners (Zenith) has entered into a conditional sale, and purchase agreement with NZX Limited to acquire New Zealand’s leading research business: FundSource, as it expands into offshore markets.
FundSource is one of New Zealand's longest standing investment research houses, having supplied analysis to financial advisers and fund managers since 1983. FundSource is a well-known and trusted brand in the New Zealand market, monitoring approximately 700 funds (unit trusts, KiwiSaver schemes, personal schemes and insurance bonds) totalling over $100 billion in NZ Household savings.
FundSource is a leading source of quality research to market participants, producing qualitative and quantitative research in addition to insightful industry reports. Zenith will continue to build on the brand excellence FundSource has become known for in the NZ market over the past 35 years, while also expanding upon the suite of services available to users.
Commenting on the acquisition co-founder and director David Smythe stated “Zenith is committed to growing the NZ market for funds research and sees a great opportunity to bring together the synergies of a strong brand in the NZ market with the size and scale of our Australian operation from a research and analytical perspective”.
The sale process is expected to be finalised during May 2019.
NZX is New Zealand’s exchange and at its core a markets business operating equity, debt, derivatives and energy markets providing trading, clearing, settlement, depository and data services. NZX owns Smartshares, New Zealand’s only issuer of listed Exchange Traded Funds, and KiwiSaver provider SuperLife. NZX Limited is listed on the exchange it operates and has a market capitalisation of NZ$291 million.
Zenith Investment Partners is one of Australia's leading investment research providers.
The Group is dedicated to the delivery of premium best-of-breed managed fund investment research and portfolio solutions including; managed accounts for financial advisers, other investment intermediaries and their clients.
Established in 2002, Zenith is 100% privately owned and provides advice based research solutions designed in consultation with each client to match their unique business requirements. We exist to strengthen the value proposition and entrustment of financial advisers to their investing clients. Our success is built on two key principles: investment research excellence and a business model aligned with advice practice success.
Our owners are working partners and this is a key point of difference and motivator. Our clients directly benefit from a highly experienced and stable leadership team.