SYDNEY Dec 15 Australia's BT Investment
Management (BTIM), which has A$84 billion ($62.13
billion) of funds under management, will consider acquisitions
as it looks to substantially grow its business in the United
States over the next five years, its chief executive said.
BTIM, 30 percent owned by Australia's second biggest bank,
Westpac, has A$12.3 billion of its funds under
management for U.S. clients at present through its J O Hambro
Capital Management business acquired in 2011.
"We are not shying away from Australia," BTIM Chief
Executive Emilio Gonzalez told Reuters in an interview ahead of
the company's annual meeting on Friday. "But in five year's time
if I was to map out the book there would be more growth and
exposure in the U.S. than our current level."
Half of BTIM's funds are managed for Australian clients,
with the remainder split between the U.S., U.K and Europe.
Gonzalez said BTIM would consider acquisitions that fit with
its strategy of growing the U.S, business, which includes high
net worth individuals, endowment funds, pension funds and
charitable organisations as clients.
Currently, he said, BTIM was "chipping away at the edges" as
it built its presence in the giant U.S. market, which accounts
for about half of funds under management globally.
"We are delivering strong performance which is the license
to play," Gonzalez said. "We have a very dedicated sales team of
about six to seven people. It is very focused. They haven't got
a laundry list of products to sell. It is quite narrow."
($1 = 1.3521 Australian dollars)
(Reporting by Jamie Freed; Editing by Shri Navaratnam)