Produced in partnership with Royal London Asset Management.
Global fund manager, Royal London Asset Management is stepping back into the Australian spotlight with renewed intent.
Down under since 2005, Royal London Asset Management’s legacy structure saw the £181 billion manager servicing a handful of institutional clients from its London headquarters and attracting wholesale clients via a third-party distribution agreement.
Owned by one of the UK’s largest life insurance and workplace pension companies Royal London Group, the manager has decided that now is the time to take client relationships into its own hands.
The decision to elevate its presence in Australia was made after members of the group’s global equities team departed. Shortly after, Royal London Asset Management appointed experienced London-based fund manager, Paul Schofield, to rebuild and lead the group’s global equities team.
Instead of withdrawing, Royal London Asset Management used the disruption as an opportunity to “double down on Australia”, which it had identified as a key expansion market, according to the group’s head of sales Phil Reid.
He points out that the group’s rationale and approach to establishing international offices is different to most managers. “Managers typically pick countries that they want to be [in], but our approach is to think about where our capabilities work best,” he says.
“We’re thinking about where in the world our capabilities and our status as a mutual resonate most with the needs of clients.
“Australia is an important, strategic market where we already have strong client relationships, and there are many similarities between the Australian and UK distribution landscapes, specifically in relation to superannuation and retirement incomes, which means that we are aligned to the challenges and solutions that clients require in Australia also right now,” Reid tells Professional Planner.
Following the appointment of the new global equities team, Royal London Asset Management met with clients and investors to reaffirm its long-term commitment to Australia. In true Aussie style, advisers told the manager to prove it.
“Feedback was very clear about the importance of having people here on the ground, launching our own funds and backing them with our scale,” Reid says.
In June 2025, the group hired Kevin Haran, former managing director of Affiliated Managers Group in Australia and New Zealand, as head of regional sales, and charged him with the task of building and leading the group’s Australian business.
Late last year, it launched four funds, including two new strategies – global equity enhanced and global high yield. The funds will become available on major platforms in the near future.
Meanwhile, the existing Royal London Concentrated Global Share and Royal London Core Global Share are available on the CFS platforms.
Reid describes this as “phase one”.
“We are building our brand in both wealth and in institutional [markets], and leveraging our strong client service levels and expertise in core capabilities that are relevant to both markets,” he says.
Phase two will involve the build out of the group’s extensive alternatives capabilities, “defined contribution-ready strategies” and custom-built solutions. This evolution will of course be driven by clients, Reid says.
“We are well known across a number of core capabilities but are clearly looking to work with, and build relevant capabilities for, the local market,” he says.
“Our approach is to engage with clients to make sure we deliver the right solutions and outcomes.”
Haran says Royal London Asset Management’s genuine desire to listen and connect with clients was a key factor in his decision to join.
“While Royal London has historically had a successful business here through a third-party distributor, outsourcing client connectivity was not something that the business consciously decided to do,” he says.
“When the events of 2024 created an opportunity for the group to sit down and thoughtfully consider how it wanted to operate in the Australian market, they were adamant that they didn’t want to go down the same path, and exiting was never an option.”
Putting the past behind and looking to the future, Haran is excited about growing that client connectivity and building awareness and understanding of the group’s capabilities in both the institutional and IFA market.
