AMG eyes equity in Australian fund managers

Distribution prototype

The first sales office opened by AMG outside North America was at Circular Quay in Sydney. Its aim was simple: “We wanted to make sure that our aggregate affiliate business is punching above its weight,” Dyson says. “It became a prototype – a model for most of our distribution plan.”

A year later AMG opened a London sales office focused on Middle East investors (later moving to Dubai) and then established a Hong Kong office.

The company aims to garner more assets from institutional investors in Australia but also wants to manage money as a sub-advisor and sell funds to financial planners through bankowned distribution systems, known as platforms.

Dyson acknowledges that Australia’s mandated retirement savings is attractive, but says the intelligence of Australian institutional investors is also impressive.

“Other markets are more brand driven and less professional.”

Dyson says AMG’s next move is to seriously consider opening a sales office in Japan. It may pursue subadvisory relationships with Japanese financial institutions or consider a joint venture with a local investment manager to gain a foothold in the market, which is dominated by well-known managers.

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