360 ONE WAM Subsidiaries Realign AIF Business Transfer

360 ONE WAM LTD announced a revised plan for the transfer of its Alternative Investment Funds (AIF) Business. Previously, the AIF Business was to be transferred from 360 ONE Portfolio Managers Limited (PML) to 360 ONE Asset Management Limited (AMC). The board of PML has now approved withdrawing this proposed transfer. Instead, the AIF Business will be transferred from PML to 360 ONE Alternates Asset Management Limited (AAM), another wholly-owned subsidiary. The transfer will occur on a going concern and slump sale basis, with consideration not less than the net book value. This internal realignment aims to consolidate AIFs, create a larger investment platform, and enhance operational efficiency. As both entities are wholly-owned subsidiaries, the company states it is not prejudicial to stakeholders and does not alter shareholding.