Candriam and New York Life Investments announced their expanded partnership to deliver offshore capabilities and solutions reaching global investors whose wealth is managed in the US.
With this expanded partnership, investors in the US offshore market will gain access to certain Candriam multi-billion-dollar flagship UCITS funds with deep expertise, long track records, global investor bases and sizeable assets under management.
The range of UCITS funds cover strategies including US high yield corporate bonds, emerging market equity and debt, and thematic strategies that are actively involved in areas such as cancer research, innovative technologies, and biotechnology. In some cases, Candriam will be able to offer clones of existing US mutual funds, managed by its affiliates, for the first time to these investors.
New York Life Investments’ sales teams will use their on-the-ground relationships in the US and leverage the company’s scale to support introductory conversations with US-based broker-dealers and financial firms. This approach aims to unlock new opportunities, enabling these groups and their end clients to benefit from Candriam’s proven investment strategies.
Jac McLean, Head of U.S. Distribution at New York Life Investment Management, said: “With Candriam’s investment excellence and track record in Europe and across the globe, combined with our relationships with major platforms in the US, we are well positioned to leverage our scale, resources, and distribution channels to meet the evolving needs of US offshore clients. Our daily conversations with US advisors enable us to see first-hand how tricky market dynamics are driving their offshore clients to seek new investment ideas; these insights, in turn, empower our sales teams to work closely with intermediaries and platforms to deliver best-in-class solutions to this market segment.”
“Expanding access to Candriam’s renowned global strategies in the US offshore market aligns with our commitment to continue to provide a range of new and creative investment opportunities for intermediaries and end clients.”
Keith Dixson, Head of International Development at Candriam, continued: “There is a significant opportunity in the US offshore market to match evolving investor demand in these regions with innovative solutions. International investors are seeking high yielding strategies, along with diversifiers for their portfolios which are increasingly centered on global thematic solutions that take advantage of structural trends.”
“We look forward to expanding these solutions for clients and working closely with intermediaries to bring new opportunities to their clients in these markets. This increases our global coverage and is a natural next step to growing the business.”
Candriam is a first mover in multiple strategies. The firm was one of the first market participants to offer a range of long-term thematic investments driven by megatrends, and now has over 20 years’ experience and $16bn AUM across thematic strategies.
Candriam’s growth in the US offshore market will support ongoing sales efforts in Latin America, led by Candriam’s sales team in Spain.
Por Funds Society, Madrid
Por Beatriz Zúñiga