Unit holders in 13 of First Sentier Investors’ funds voted in favour of a change in responsible entity (RE) from Colonial First State Investments Limited (Colonial First State) to The Trust Company (RE Services) Limited (Perpetual Corporate Trust).
The transition in RE follows First Sentier Investors’ change in ownership to Mitsubishi UFJ Trust and Banking Corporation, a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., in August 2019. Given the change in ownership, Colonial First State believed it was an appropriate time to retire as the RE of the funds.
Liz Hastilow, Managing Director, Australia and New Zealand at First Sentier Investors said: “First Sentier Investors’ strong investment and client servicing capabilities combined with The Trust Company’s depth of experience in fund compliance and governance will ensure our clients are well looked after. It is critical that our clients’ funds are well supported in every respect.”
Vicki Riggio, General Manager of Managed Funds Services at Perpetual Corporate Trust commented: “The Trust Company is proud to be appointed as the responsible entity for the First Sentier Investors funds following the result of the unit holders’ meeting today and to be working with an investment manager of the calibre of First Sentier Investors. As a leading, independent responsible entity supporting more than 70 Australian and international investment managers, we believe we are well positioned to oversee these funds. We look forward to working with First Sentier Investors.”
The RE transition will become effective on 1 March 2021.