SYZ Group and iM Global Partner have signed a collaborative partnership to evolve the Oyster fund range. Under the new strategic direction, both entities will join forces to reposition the successful pan-European fund distribution platform created more than two decades ago by the SYZ Group.
Under the agreement, iM Global Partner is expected to acquire SYZ Asset Management - Luxembourg (SAM Luxembourg), Oyster Sicav's Luxembourg-domiciled management company. SAM Luxembourg has distribution agreements with about 80% of Europe's open architecture fund distributors and is present in most major European fund markets through a locally based, multilingual sales & marketing team. The acquisition, which remains subject to approval by the relevant regulatory authorities, is due to be completed in the first quarter of 2020.
The €2bn AUM Oyster fund range will continue to be managed by SAM Luxembourg and, subject to regulatory approval, will benefit over time from outstanding fund managers selected by iM Global Partner. This partnership will provide the opportunity to refine and grow the range of high performing strategies offered to existing and new investors.
The evolution of Oyster will leverage existing local market footprints, while harnessing global opportunities. The sales force, based in France, Italy, Switzerland, Germany and in the UK, will integrate into iM Global Partner's International Distribution team, reporting to Jose Castellano, deputy CEO of iM Global Partner and head of Distribution (ex US).
Through the partnership, Banque SYZ, the private banking arm of the SYZ Group, will enjoy a privileged relationship with a worldwide multi-boutique player that partners with outstanding investment managers with strong growth potential. The partnership offers SYZ Group's clients a combined range of high-quality active strategies. In addition, they will have access to a new range of products, through the iM Global Partner offering.