FundSource finally sold - Sort of
NZX has entered into a conditional sale and purchase agreement of its funds management business FundSource to Zenith Investment Partners.
Zenith Investment Partners is an Australian investment research provider. "It is dedicated to the delivery of premium, managed fund investment research and portfolio solutions, including managed accounts, for financial advisers and other investment intermediaries," NZX says in a statement.
NZX hasn't disclosed a price, nor what conditions have to be met. However, it said the price was "not material" to the listed company. It also says this sale completes the divestment of NZX's non-core businesses.
"Our efforts are now completely focused on growing our core markets, Smartshares, Wealth Technologies businesses."
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