BrightSphere has wholly owned Acadian since 2014 and is now the sole affiliate since BrightSphere sold its interests in the other affiliates in late 2021. This position is a notable change and one we find a bit curious.
Boston-based Acadian managed US 83.3 billion at 30 September 2022, including global and emerging markets, and managed volatility variants. This quantitative manager has displayed continuity with several longtime employees in senior positions, has enacted clear long-term succession plans, and had staff members invest significantly alongside fund investors. A large portion of incentives are not tied to strategy performance, though this is somewhat understandable given the models dictate investment decisions. More pleasingly, Acadian has been prepared to close strategies when reaching capacity, notably in smaller-cap vehicles. Acadian is quite open about its research and models. Acadian’s Australian business has had some bumps in the past, notably with team turnover and limited advisor investment, although more recently this has improved. The distribution of Acadian funds has been bought in-house, providing greater control over fee pricing, while CFS continues to act as responsible entity. Acadian purchased CFS’ 50% stake in Acadian in 2015.