| 2009 |
In 2009, Colonial First State Global Asset Management undertook a strategic alignment to position the business for future growth opportunities around the world.
This strategic alignment created new roles in the UK, Hong Kong and Australia.
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| 2008 |
Mark Lazberger appointed Chief Executive Officer of Colonial First State Global Asset Management. |
| 2007 |
First State Cinda Fund Management Company Limited, the joint venture between Colonial First State Global Asset Management (CFSGAM), and China Cinda Asset Management Corporation, announced the launch of its first equities fund for the Chinese market, the First State Cinda China Leaders Growth Equity Fund.
Colonial First Global Asset Management becomes a signatory to United Nations' Principles for Responsible Investment (UN PRI), a voluntary program which encourages best practice in environmental, social and corporate governance issues.
Colonial First State Global Asset Management's funds under management reaches more than AUD130 billion. |
| 2006 |
Gandel Retail Management Pty Ltd is renamed Colonial First State Property Management. Colonial First State Property Management is the exclusive provider of property management, leasing and development management services to 37 shopping centres owned by Colonial First State Global Asset Management across Australia. This portfolio of assets makes Colonial First State Property Management one of the largest specialist managers of retail property in Australia.
Colonial First State Global Asset Management's funds under management reaches AUD123.7 billion. |
| 2005 |
Colonial First State is split into two separate companies – Colonial First State Global Asset Management (Funds Management and Institutional Business) and Colonial First State (Distribution). |
| 2002 |
The operations of Commonwealth Investment Management and all ex-Colonial Australian Financial Services products are merged into Colonial First State. Colonial First State is the sole fund manager in the Commonwealth Bank of Australia Group with global funds under management of more than AUD100 billion.
Commonwealth First State Property Limited enters into a joint ownership arrangement of Gandel Retail Management Pty Ltd (GRM).
GRM is established to provide property management, leasing and development management services to assets within the CFS Retail Property Trust (CFX) portfolio, a number of other unlisted funds for which Property and Alternative Investments has responsibility and those owned privately by The Gandel Group.
Launch of the Colonial First State multi-manager offering: FirstChoice.
Inception of strategic alliance with boutique Australian equities firm 452 Capital. |
| 2001 |
Brand name changed to Colonial First State.
Colonial First State New Zealand integrates with Colonial First State Australia.
Total Australian funds under management reaches AUD46 billion. |
| 2000 |
The Commonwealth Bank of Australia and Colonial Group Limited agree to a friendly merger. As indicated by the Managing Director of the Commonwealth Bank at that time, David Murray, the business and investment management approach should continue without change".
Colonial purchases the Edinburgh-based investment manager, Stewart Ivory. Stewart Ivory is an established fund manager and provides a strong UK base for Colonial to grow its international funds management business in the northern hemisphere. Colonial and Stewart Ivory had similar, active, 'bottom-up' investment styles, with a strong research driven process.
On 13 June 2000, the merger between Commonwealth Bank of Australia and Colonial is legally completed. New Commonwealth Bank shares are issued to Colonial ordinary share and option holders at a ratio of seven new shares for every 20 held. As part of the purchase by Commonwealth Bank, Colonial First State (previously a subsidiary of State Bank of NSW Limited) becomes a wholly owned subsidiary of Colonial Mutual Life Assurance Society Limited (CMLA), a wholly owned subsidiary of the Commonwealth Bank of Australia.
Commonwealth Bank purchases the remaining 50% of private equity company Hambro Grantham.
Total Australian funds under management reaches AUD37 billion.
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| 1999 |
Colonial purchases the Asian and UK funds management businesses of US-based fund manager Nicholas-Applegate.
Total Australian funds under management reaches AUD31 billion. |
| 1998 |
In May 1998, Colonial announces the merger of Colonial Investment Management (CIM) into First State.
Colonial Group acquires the Australian operations of Legal & General.
Colonial Group purchases the Australian and New Zealand operations of Prudential.
The investment management operations of Prudential and Legal & General are folded into those of First State. First State becomes the investment manager for the combined statutory funds of the Colonial Group.
First State’s name is changed to Colonial First State Investment Management (Australia) Limited in recognition of the company’s position as the sole domestic fund manager within Colonial Group.
Total Australian funds under management reaches AUD26 billion. |
| 1997 |
On 19 May 1997, Colonial Group lists on the Australian Stock Exchange.Total funds under management reaches AUD7 billion.
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| 1996 |
Colonial acquires Co-operative Investment Managers Limited, the investment management business of the Co-operative Bank (UK).
The State Bank of NSW is renamed Colonial State Bank. At this point in time, the Colonial Group already has a funds management subsidiary in Australia, Colonial Investment Management Limited (CIM). The two funds management companies in Australia operate separately from each other.
Total funds under management reaches AUD3 billion.
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| 1995 |
Colonial Group purchases the State Bank of New South Wales Limited and its subsidiaries, including First State, from the Government of New South Wales. |
| 1993 |
Total funds under management reaches AUD1 billion. |
| 1988 |
The funds management business First State Fund Managers Limited (First State) is established by the State Bank of NSW with a share capital of AUD5 million. |
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