17 August, 2020

MMC to provide back office services to Te Ahumairangi

MMC are to provide back office services to Te Ahumairangi Investment Management Ltd (Te Ahumairangi) who have the Accident Compensation Corporation (ACC) as a foundation client.

ACC’s former Chief Investment Officer Nicholas Bagnall founded the wholesale investment management business Te Ahumairangi late last year. Since then he and the Te Ahumairangi team have been working with MMC on the services that are to be provided for the NZ$1.8 billion global equity portfolio and any future fund offerings that Te Ahumairangi may look to bring on board once the contract with ACC ceases to be exclusive after 12 months.

Nicholas Bagnall, Te Ahumairangi founder, says “we approached MMC right from the beginning. With their experience and reputation in the industry, and their responses to our enquiries, we felt that they were the team that we could trust in helping us with this transition. We were also keen to work with a business that we could partner with for the longer term, guiding us from an operational perspective not only as we took over the ACC portfolio but also as we look to grow our client base in the future. Our dealings with the team at MMC have been outstanding – they have been very responsive and we are really appreciative of the effort and support they have provided over the last few months.”

“We are excited to have Nicholas and the Te Ahumairangi team partner with us” commented Vedran Babic, MMC’s CEO. “We have worked together with Nicholas to shape our service offering to seamlessly integrate with Te Ahumairangi’s current business and future aspirations. We are pleased to have been able to help another new entrant into the New Zealand market and provide them with the necessary infrastructure to accelerate their success.”

With the recent acquisition of Aegis, MMC currently have over 100 clients made up of investment managers, product providers and groups of investment professionals, with a combined funds under administration of over $83 billion.

Latest Articles

18 October, 2021

Simplicity cement long term relationship with MMC

MMC and Simplicity renew long-standing partnership for fund administration and default KiwiSaver registry services.

Read the full story
20 September, 2021

Kiwi Wealth partner with MMC for administration of their default KiwiSaver Scheme

Kiwi Wealth extend their partnership with MMC to consolidate their fund administration processes and be set up for growth.

Read the full story
6 September, 2021

BNZ goes live with MMC’s registry services for KiwiSaver

BNZ expand their fund administration services with MMC to include registry for their default KiwiSaver scheme.

Read the full story
9 August, 2021

MMC reach NZ$100 billion in Funds Under Administration

MMC mark a fantastic milestone in their successful growth journey.

Read the full story
19 April, 2021

MMC add to C-suite to support growth and innovation

New hires cement technology innovation and operational excellence at the heart of MMC’s services.

Read the full story
15 February, 2021

MMC fully acquire the IFAA Group

Acquisition provides long-term strategic opportunities in Australia.

Read the full story
21 December, 2020

Select Wealth Management renews partnership with MMC

MMC’s vision and roadmap for their wealth administration services were some of the key deciding factors.

Read the full story
14 December, 2020

MMC to launch a New Zealand first investor experience for their clients

MMC Digital & Insights will help MMC's clients to deliver a seamless multi-channel experience to their investors.

Read the full story