DARREN SNYDER – Financial Standard
Local trustee and responsible entity services provider Evolution Trustees is partnering with a global firm aiming to scale up its Australian presence.
The alliance with TMF Group will provide another option for foreign investors in Australia who require managed investment trust services.
A statement from TMF Group said the alliance will improve its service offering for international clients investing in Australian assets, with a full suite of services in investment management; trustee and custody; fund accounting; and corporates services including company secretarial and registry services.
TMF Group senior director private equity and real estate for Asia Pacific, Catherine Caradus, said: “We are excited to have the opportunity to work with Evolution Trustees to further expand our service offering to support our international real estate clients and foreign investors with MIT compliance. I am sure that this alliance will also lead to other opportunities in the broader Australian capital markets.”
Evolution Trustees chief executive Rupert Smoker said: “This alliance with TMF Group brings great opportunities to harness global demand for high quality Australian assets. The Australian MIT services market needs more competition, and our partnership will undoubtedly drive benefits for clients.”
The combination of TMF Group’s experience in real estate and infrastructure and Evolution Trustees’ specialised Australian trustee capability is expected to provide a compelling, competitive alternative for offshore investors.