J.P. Morgan Asset Management (JPMAM) has formed a strategic partnership with one of the largest investment advisory firms in New Zealand, Craigs Investment Partnership (CIP), according to a joint statement by the two firms.
The partnership is to bring the expertise and distribution support of JPMAM, which has $3.1trn in assets under management, to CIP’s private wealth clients.
Simon Tong, CIP CEO said: “For CIP, this important relationship supports delivering on our strategy to bring the best opportunities from across the globe to our clients.”
Andrew Creber, JPMAM’s Australia and New Zealand CEO, added: “We’ve chosen to partner with CIP given their position as the leading private wealth investment firm in the New Zealand market and the alignment of both our organisations’ goals and values.”
“We believe the strength of CIP and JPMAM will create differentiated client solutions that lay the foundation for a strong and successful partnership,” he added.
The partnership will bring JPMAM’s investment tools such as their Market Insights and Portfolio Insights programmes to the New Zealand-headquartered CIP, which has $28bn of client funds under management.
Jeremy Williamson, CIP head of private wealth and markets CIP said: “The objective of the partnership is to further develop CIP’s investment capabilities and insights by directly accessing JPMAM’s global capabilities and expertise, which will benefit our clients, our advisers and our investment committee.”
He continued: “We are tremendously excited to partner with JPMAM, who we consider to be in the very top tier of global asset management firms, and look forward to working with them across many parts of our private wealth business over the coming years.”
Mark Carlile, JPMAM’s head of wholesale, Australia and New Zealand, added: “Our businesses complement each other and we are excited for future collaboration and growth opportunities providing quality solutions and diversified solutions to New Zealand investors.”
