After months of speculation, former Apex NZ chief, Anthony Edmonds, has emerged with a new investment management firm to be headed by ex Harbour multi-asset specialist, Chris Di Leva.
Dubbed Aurellan Asset Management, the just-launched business will offer an outsourced chief investment officer (OCIO) service – also known as implemented consulting – as well as sector-specific funds in collaboration with a highly-regarded global research house.
Di Leva, who resigned Harbour in July after a six-year stint, will take on the dual roles as Aurellan chief executive officer and head of investments with Edmonds to manage client relationships and product development.
“Chris and I share common views about the opportunity within the NZ industry, and the right way to structure an investment management business that is truly focused on serving our clients,” Edmonds said.
“Our target clients include family offices, superannuation funds, charities, foundations, councils, Iwi, and adviser groups.”
Aurellan launches, too, with a significant family office as seed client that he said highlights growing demand in NZ for a high-end investment solution.
“You know you’re on the right track when the first investor I talked to said they want to become a client and a shareholder,” Edmonds said. “In addition to the unique client perspective they bring, the family has deep expertise in areas like marketing and building enduring businesses.”
While the Aurellan global investment research partner remains under wraps for now, he said the firm has a well-won reputation for identifying leading fund managers and providing state-of-the-art portfolio construction services.
The blend of global investment expertise and the deep local knowledge of the client-focused Aurellan team lay the groundwork for success in NZ where the OCIO model is expected to rise in line with offshore trends, Edmonds said.
For instance, a recent study by specialist research house, Chestnut Advisory Group, found global OCIO assets under management are expected to jump from about US$4.8 trillion as at March this year to more than US$7.3 trillion by 2029 as investors seek out professional guidance amid an increasingly complex backdrop.
And Edmonds said Aurellan launches at a time of growing interest in private markets and changes in the NZ tax code driving trust investors such as family offices to seek more implemented solutions.
“Being owned by our staff and investors puts us in a unique position of allowing us to think and act long term,” he said.
Aurellan is on track to release its first investment funds within the next few months.
Edmonds founded the Wellington-based Implemented Investment Solutions (IIS) in 2010, offering fund-hosting services. IIS also launched the direct-to-consumer fund platform, InvestNow, in 2017.
In 2022, the Apex Global investment administration firm bought IIS, to add to its earlier purchase of MMC. Edmonds ran the combined Apex NZ business until late 2024 when he stepped into a sales position for the group before leaving earlier this year.
Prior to joining Harbour as head of multi-asset in 2018, Di Leva spent eight years in investment consultancy and portfolio management roles for Mercer NZ, based in Wellington. He formally finishes at Harbour early in September after a period of gardening leave.