Challenger to distribute the boutique funds in which it has newly acquired stakes.
Challenger Financial Services will boost its presence on financial planning platforms with the inclusion of funds from new stakes in funds management boutiques.
Challenger yesterday announced it had purchased a 30 per cent stake in a fixed-interest boutique headed up by Credit Suisse Asset Management Australia's former head Ben Alexander.
The as-yet unnamed boutique will initially create Australian fixed interest and inflation-linked bond portfolios.
Challenger also bought a 27.5 per cent holding in Sydney-based hedge fund manager WaveStone Capital.
"What we'll be doing is initially focusing [the products] institutionally, and then we will gradually take them out to the broad platform market," Challenger Funds Management general manager of boutique partnerships Michael Lovett said.
WaveStone Capital runs WaveStone Absolute Return Fund, which has gained 26.85 per cent since its inception in September 2006, until July 2008.
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