Key Event Details
360 ONE Portfolio Managers Limited (PML), a wholly owned subsidiary, has withdrawn its previously approved transfer of Alternative Investment Fund (AIF) business to 360 ONE Asset Management Limited (AMC). The PML board meeting held on August 28, 2026 approved instead transferring the AIF business to 360 ONE Alternates Asset Management Limited (AAM), another wholly owned subsidiary.
The AMC board has taken note of the withdrawal of the proposed transfer from PML, and the AAM board has approved the acquisition of the AIF business from PML.
Transaction Structure
The AIF Business is proposed to be transferred:
- On a going concern basis
- On slump sale basis
- For a lump sum consideration not less than the net book value of the business
- Subject to necessary adjustment of working capital
- Effective date to be determined by PML and AAM
- Subject to terms and conditions in the draft business transfer agreement
- Subject to other required approvals/consents/permissions
Rationale and Impact
The Business Transfer aims to consolidate alternative investment funds from PML to AAM, creating a larger investment platform that allows:
- Sharper focus on the AIF business segment
- Expected operational efficiency improvements
Since both PML (transferor) and AAM (transferee) are wholly owned subsidiaries of 360 ONE WAM LIMITED:
- The transfer is not prejudicial to investors of the transferor, creditors of both entities, shareholders and creditors of the company, or the public at large
- Does not benefit the promoter and promoter group of the Company in any manner
- Does not change the shareholding of the Company, Transferor or Transferee in any manner