The firm believes that the new global brand will enable it to grow its presence in key regions, including Asia Pacific, Latin America and the Middle East while reinforcing both firms’ strengths in the established markets of the UK, Europe and the US.
The investment strategies, philosophies and processes of both firms will not change as a result of the new global brand, the firm said. There will be no changes to the corporate structure or regulated entities, to Threadneedle’s existing funds or to client portfolios and mandates.
“For the past two years we have been working with our Columbia colleagues to increase the breadth and depth of our offering to Asian clients. Presenting the combined capabilities of both firms under a single global brand is the natural next chapter,” Raymundo Yu, Asia Pacific chairman of Threadneedle said.
Together, Threadneedle and Columbia have $505bn in assets under management across developed and emerging market equities, fixed income, multi-asset solutions and alternatives (including UK property).
Columbia Management, which had assets under management of $358bn on 30 September, is the eleventh largest manager of long-term mutual fund assets in the US.
“In a world where financial markets and economies are increasingly interconnected, having a strong established investment capability in Asia, Europe and the US is a considerable advantage,” said Colin Moore, global chief investment officer, Columbia Management.
The US-based financial services firm Ameriprise Financial, which is listed on the New York Stock Exchange, owns both Columbia Management and Threadneedle.