(7 March 2005 – Australia) Macquarie Bank has engaged Morgan Stanley and Edinburgh based Walter Scott & Partners as initial partners in the bank’s Professional Series of managed funds distribution offerings.Macquarie is looking to include eight to ten funds in the series over the next year as part of a program to give advisors access to boutique and specialist investment managers.
The bank said there was increasing interest among international investment managers for product development, management and distribution partners in the Australian market.
The US$5.3 billion Morgan Stanley Global Franchise Fund is closed overseas, however there is A$500 million open to investors in Australia.
The Walter Scott Global Equity Fund will have US$15.3 billion in funds under management.