The partnership puts together one of the world's largest asset managers, and a firm operating in New Zealand with $28 billion in AuM.

JP Morgan Asset Management is partnering with New Zealand-based Craigs Investment Partners. The firms have signed a multi-year memorandum of understanding.

The pact puts together JP Morgan AM, a business with $3.1 trillion in assets under management (31 December 2023), and CIP, which has $28 billion of client funds under management.

“For CIP, this important relationship supports delivering on our strategy to bring the best opportunities from across the globe to our clients. Craigs has a long history of being local but acting global and this is another example,” Simon Tong, CIP’s chief executive, said.

The move is a way for JP Morgan AM to tap into the growing wealth story of New Zealand, the US firm said. 

“We’ve chosen to partner with CIP given their position as the leading private wealth investment firm in the New Zealand market and the alignment of both our organisations’ goals and values,” Andrew Creber, Australia, and New Zealand CEO, JPMAM, said. “We believe the strength of CIP and JPMAM will create differentiated client solutions that lay the foundation for a strong and successful partnership.”