Zurich Investments and Celeste Funds Management announce exclusive distribution partnership
13 August 2019
Zurich Investments today announced that it has signed an exclusive partnership agreement with Celeste Funds Management to distribute the existing Celeste Australian Small Companies Fund in the Australian market. The partnership combines Zurich Investments’ distribution capacity with Celeste’s investment management expertise and reputation.
Celeste Funds Management was selected by Zurich Investments following a search for a highly respected smaller companies investment manager.
Celeste boasts a strong 15-year track record in the market with superior long-term performance, a stable and dedicated investment team garnering strong ratings by leading research houses, as well as a significant footprint with retail investors.
Matthew Drennan, Zurich’s Head of Savings & Investments, said these were key attributes Zurich Investments was seeking in a manager and provide a firm foundation for establishing a long-term partnership.
“Celeste Funds Management is a proven manager of Australian smaller companies and an excellent addition to the suite of Zurich Investments strategic partnerships,” he said.
“We are excited to welcome the Celeste team as our newest strategic partner managed by Frank Villante and Paul Biddle”.
Chief Investment Officer, Frank Villante said “The Celeste team looks forward to developing a mutually beneficial strategic partnership with Zurich Investments. We believe we can deliver above benchmark returns, from the application of our investment process for the benefit of the client base”.
Zurich Investments has also appointed Celeste to take over management of the Zurich Investments Small Companies Fund within its diversified offerings.
“We believe Celeste provides current investors and advisers within these offerings with a seamless like-for-like option,” Matthew Drennan said.
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Zurich Financial Services Australia is a life insurance, commercial insurance and investments specialist that has been participating in the Australian market since 1920. Since its acquisition of OnePath Life from ANZ in 2019, the company provides life insurance to more than 1.5 million Australian customers under both the Zurich and OnePath Life brands. Further information about Zurich Financial Services Australia is available at www.zurich.com.au.
Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to ‘create a brighter future together’, Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.
About Zurich Investments
Zurich Investments partners with Australian advisers and their clients in strategic wealth creation. For over 35 years Zurich Investments has gained access to exclusive Australian and international partnerships with best-of-breed fund managers across a range of asset classes and management styles.Today, our suite of funds offers unique choice, diversification and access to Australian advisers and their clients. Our business is an enduring, independent brand in the Australian wealth management market with investments backed by a genuine partnership philosophy. This aligns with the global Zurich purpose to be a mainstay in the wealth creation and life protection of our customers.
About Celeste Funds Management
Celeste Funds Management is an employee owned, specialist small companies investment manager that has been generating long-term wealth for our clients since 1998. We have a sole focus on Australian small companies listed on the ASX. Celeste executes a well-established analytical investment process that has a long history of delivering attractive above benchmark tax effective returns. Our dedicated investment team has over 80 years combined experience in financial markets.