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AXA Acquires Portfolio Management Company In Australia

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NU Online News Service, Oct. 18, 3:00 p.m. – AXA Asia Pacific Holdings, Melbourne, says it has agreed to acquire Sterling Grace Portfolio Management Group Ltd., Melbourne, for $102.4 million.

Sterling Grace, which operates as Monitor Money in Australia and Spicers in New Zealand, has more than $1.32 billion in funds under management.

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Regulatory approval of the acquisition is still pending