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AMG forms partnership with Hong Kong’s Value Partners

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Affiliated Managers Group, a diversified asset management company, has acquired a five per cent stake in Value Partners Group from a group of senior management owners, including its chairman and chief investment officer Cheah Cheng Hye.

In connection with the investment, AMG and Value Partners have agreed to work together on joint product development and strategic distribution opportunities, which extends AMG’s global presence into the Asian marketplace.

Founded in 1993, Value Partners is one of the largest independent boutique asset management firms in Asia, with approximately USD4.6bn in assets under management as of 30 September 2009. It follows a traditional Graham and Dodd value investing approach, placing a strong emphasis on intensive research and bottom-up stock picking.

The firm, which employs 78 people, including 22 investment professionals, manages a wide range of investment products for institutions, individuals and corporate investors.

Recently, Value Partners entered into a joint venture agreement with Ping An Insurance of China, which is also an equity investor in the firm, to launch exchange-traded funds to meet rapidly growing customer demand in China, Hong Kong and other Southeast Asian markets.

“Our investment in Value Partners marks our entry into the Greater China region, and we are very pleased to partner with one of the largest and most respected independent boutique asset management firms. With an outstanding reputation for delivering superior returns for its clients, Value Partners has generated impressive growth since its inception through a disciplined, deep value investment strategy, as well as key business decisions that have expanded the breadth and scale of its product offerings,” says Sean M. Healey, AMG’s president and chief executive officer. “We have identified a number of synergies in product development and distribution, and will work together to develop strategic initiatives that enhance our respective businesses. We are very excited to partner with Mr. Cheah and his team, and we look forward to a strong and growing partnership.”

“We are impressed by AMG’s partnership approach, as well as their expertise in product distribution and development on a global scale,” says Cheah. “Given its partnerships with a number of the industry’s leading boutique investment management firms, including highly regarded value managers, we see a broad range of exciting opportunities to leverage both our core competencies and complementary product offerings on a number of joint initiatives.”

As part of its global distribution platform, AMG expects to open a sales and marketing office in Hong Kong in 2010. In addition to its US distribution capabilities, AMG currently has dedicated sales and marketing offices in London, serving investors in Europe and the Middle East, as well as Sydney, serving institutional investors in Australia and New Zealand.

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