1988

First State Fund Managers Limited (First State) is established by the State Bank of NSW. It has a share capital of AUD5 million and its only business is funds management.

1990

The State Bank of NSW becomes a company incorporated under the Corporations Act which involves a universal succession and name change to 'the State Bank of New South Wales Limited'.

1993

Total funds under management reaches AUD1 billion.

1995

Colonial Group purchases the State Bank of New South Wales Limited and its subsidiaries, including First State, from the Government of New South Wales.

1996

Colonial acquires Co-operative Investment Managers Limited, the investment management business of the Co-operative Bank (UK).

The State Bank of NSW is renamed Colonial State Bank. At this point in time, the Colonial Group already has a funds management subsidiary in Australia, Colonial Investment Management Limited (CIM). The two funds management companies in Australia operate separately from each other.

Awarded Money Management Fund Manager of the Year.

Total funds under management reaches AUD3 billion.

1997

On 19 May 1997, Colonial Group lists on the Australian Stock Exchange.

Total funds under management reaches AUD7 billion.

1998

In May 1998, Colonial announces the merger of Colonial Investment Management (CIM) into First State.

Colonial Group acquires the Australian operations of Legal & General.

Colonial Group purchases the Australian and New Zealand operations of Prudential.

The investment management operations of Prudential and Legal & General are folded into those of First State. First State becomes the investment manager for the combined statutory funds of the Colonial Group.

First State’s name is changed to Colonial First State Investment Management (Australia) Limited in recognition of the company’s position as the sole domestic fund manager within Colonial Group.

Awarded Money Management Fund Manager of the Year.

Total Australian funds under management reaches AUD26 billion.

1999

Colonial purchases the Asian and UK funds management businesses of US-based fund manager Nicholas-Applegate.

Awarded Money Management Fund Manager of the Year.

Total Australian funds under management reaches AUD31 billion.

2000

The Commonwealth Bank of Australia and Colonial Group Limited agree to a friendly merger. As indicated by the Managing Director of the Commonwealth Bank at that time, David Murray, the   “.....business and investment management approach should continue without change”.

Colonial purchases the Edinburgh-based investment manager, Stewart Ivory. Stewart Ivory is an established fund manager and provides a strong UK base for Colonial to grow its international funds management business in the northern hemisphere. Colonial and Stewart Ivory have similar active, 'bottom-up' investment styles, with a strong research driven process.

On 13 June 2000, the merger between Commonwealth Bank of Australia and Colonial is legally completed. New Commonwealth Bank shares are issued to Colonial ordinary share and option holders at a ratio of seven new shares for every 20 held. As part of the purchase by Commonwealth Bank, Colonial First State (previously a subsidiary of State Bank of NSW Limited) becomes a wholly owned subsidiary of Colonial Mutual Life Assurance Society Limited (CMLA), a wholly owned subsidiary of the Commonwealth Bank of Australia.

Commonwealth Bank purchases the remaining 50% of private equity company Hambro Grantham.

Total Australian funds under management reaches AUD37 billion.

2001

Brand name changed to Colonial First State.

Colonial First State New Zealand integrates with Colonial First State Australia.

Total Australian funds under management reaches AUD46 billion.

Launch of Diversified Private Equity Fund, Hedge Funds and Geared Global Share Fund.

2002

The operations of Commonwealth Investment Management and all ex-Colonial Australian Financial Services products are merged into Colonial First State. Colonial First State is the sole fund manager in the Commonwealth Bank of Australia Group with global funds under management of more than AUD100 billion.

Commonwealth First State Property Limited enters into a joint ownership arrangement of Gandel Retail Management Pty Ltd (GRM).

GRM is established to provide property management, leasing and development management services to assets within the CFS Retail Property Trust (CFX) portfolio, a number of other unlisted funds for which Property and Alternative Investments has responsibility and those owned privately by The Gandel Group.

Launch of the Colonial First State multi-manager offering: FirstChoice.

Inception of strategic alliance with boutique Australian equities firm 452 Capital. Colonial First State is the exclusive distributor of 452 Capital funds, though 452 Capital has the right to directly target institutional mandates. This alliance is unique in the Australian market, a blend of the flexibility and independence of a boutique with the proven infrastructure, marketing and distribution capabilities of Colonial First State.

2003

Extension of FirstChoice product range.

Money Management magazine: Winner Best Rated Balanced Fund, Best Rated Conservative Fund, Best Rated Property Securities Fund, Best Rated Balanced Superannuation Fund, Best Rated Diversified Superannuation Fund.

2004

FirstChoice surpasses AUD6 billion in funds under management.

FirstChoice enhancements including reduction of fees and increased investment option.

2005

Stuart Grimshaw, Head of Investment and Insurance Services, announces that Colonial First State will be split into two separate companies – Colonial First State Global Asset Management (Funds Management and Institutional Business) and Colonial First State (Distribution).

Warwick Negus appointed Chief Executive Officer of Colonial First State Global Asset Management.

2006

Gandel Retail Management Pty Ltd was renamed Colonial First State Property Management on 16 May 2006 following the sale by The Gandel Group of its part interests in Colonial First State Property Retail Pty Ltd (the manager of CFS Retail Property Trust) and Gandel Retail Management to its existing strategic partner in these entities, Colonial First State Property Limited. Colonial First State Property Management is the exclusive provider of property management, leasing and development management services to 37 shopping centres owned by Colonial First State Global Asset Management across Australia. This portfolio of assets has a combined value of AUD8.9 billion, making Colonial First State Property Management one of the largest specialist managers of retail property in Australia.

Neil Cochrane appointed Deputy Chief Executive Officer.

On 30 September, Colonial First State Global Asset Management's funds under management reaches AUD123.7 billion.

2007

First State Cinda Fund Management Company Limited, the joint venture between Colonial First State Global Asset Management (CFSGAM), and China Cinda Asset Management Corporation, is pleased to announce the successful launch today of its first equities fund for the Chinese market, the First State Cinda China Leaders Growth Equity Fund (the Fund).

Colonial First Global Asset Management becomes a signatory to United Nations' Principles for Responsible Investment (UN PRI), a voluntary program which encourages best practice in environmental, social and corporate governance issues. The press release provides further information.

Colonial First State Global Asset Management launches the Colonial First State Wholesale Property Securities Opportunities Fund, offering investors a compelling opportunity to invest in Australian property securities capable of generating higher alpha.

On 31 March , Colonial First State Global Asset Management's funds under management reaches AUD130.8 billion.

2008

In April 2008, Jones Lang LaSalle Incorporated (NYSE: JLL), and Colonial First State Property Management entered into a joint venture partnership to capitalise on the premium retail property opportunities in Asia. The 50:50
joint venture company, named Sandalwood Pte Limited ('Sandalwood') will be the first integrated retail
development and management service provider to operate across Asia.

On 26 June 2008, the Commonwealth Bank announced that Mark Lazberger was appointed as Chief Executive Officer of Colonial First State Global Asset Management with effect from 1 September 2008. He has a broad background in global funds management and distribution, with excellent experience in Europe, Asia and Australia. Mr Lazberger is currently based in London as President, International and Executive Vice President of State Street Global Advisors (SSgA), the world's largest institutional asset manager.

As part of its ongoing commitment to integrating Environmental, Social and Governance (ESG) issues into its investment processes, Colonial First State Global Asset Management bolstered its sustainability team with the appointment of two new senior industry hires under Amanda McCluskey, Head of Sustainability and Responsible Investment. Rowan Griffin has been appointed to the role of Head of Sustainability for Property and Alternative Investments and Amy Hogan to the role of Sustainability Manage, Property.