] newest mutual fund, the New York City-based fund firm is teaming up with another fund firm's parent.
| Art Steinmetz|
Chairman, Chief Executive Officer, President
, chairman and CEO of OpFunds, confirms
the launch of the Oppenheimer Macquarie Global Infrastructure Fund
. That new fund is subadvised by Macquarie Investment Management, parent of Delaware Investments
, head of investment products and solutions at OpFunds, says that the infrastructure fund idea came from the OpFunds team "really focusing on listening to ... clients." Many investors, Bhatia tells MFWire
, want to know "how to participant in major growth trends that are happening in the world."
"Infrastructure seems to be a topic that comes up quite frequently," Bhatia says.
Then, Bhatia says, OpFunds had to "find a superior partner in the space," one that also "believes in global investing," has lots of experience in the space and a "track record available for a long period of time," and "someone who has the same belief system." In general, Bhatia says, OpFunds looks for partners who have "a good process, good performance," and are a good fit.
"Macquarie rose to the top of that list," Bhatia says.
And since OpFunds found a strong partner, "there was no reason" to build the capabilities internally instead.
, chief investment officer of Macquarie's global listed infrastructure strategies and lead PM for the new Macquarie-subadvised mutual fund, praises OpFunds' "strong distribution capabilities."
"We are excited about this partnership, which builds on the global listed infrastructure investment team's extensive investment management experience," Frishberg tells MFWire
in an e-mailed statement. "We are pleased that the Oppenheimer Macquarie Global Infrastructure Fund will offer investors liquid exposure to a wide range of global listed infrastructure companies around the world."
OpFunds has more than $216 billion in AUM as of April 30. Macquarie, an Australian multinational, has $366 billion in AUM as of March 31.
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