Boutique investment manager Calliva Group has sold off a minority stake of its business to global financial services group Nomura Asia Holdings.
The agreement will enable Calliva to leverage Nomura's technology and international reach for the development of new financial products for Australia's superannuation market. The exact percentage Nomura now owns was not disclosed.
"The original introduction to Nomura came about through them arranging part of the debt funding for the Super Access product," Calliva Group chief executive Vince Scully said.
"The important point is that this is a partnership, that there are mutual benefits, and that it has also opened up a wider opportunity to deliver Nomura products to Australian retail investors."
Scully said the new products, which will be branded with the Calliva name will generally be in the structured product space. The first will be released this September.
Nomura is very strong capability world wide in manufacture this products, but have had limited retail distribution in Australia, he said.
Nomura Australia's head Hiroyuki Nishikawa said: "This transaction underscores our continued commitment to expanding in Australia. It is part of Nomura's strategy globally in partnering with strong local incumbents to strengthen our presence in local markets."
Nomura is a global financial services group dedicated to providing a broad range of financial services for individual, institutional, corporate and government clients.
Calliva manages in excess of $130 million of assets spread across equities, hybrids, fixed interest and property. There are now 38 dealer groups who have Super Access on their approved lists. The first loans are entering the process now.
