SPAIN - Financial services firm Abante Assesores has launched a new independent subsidiary, Abante Alternative Investments (AIA), to provide asset management services to Spanish institutional investors.
Furthermore, Santiago Satrústegui, CEO of AIA, has signed an agreement with Jeff Peters, managing director and head of alliance business for Putnam Investments, to distribute Putnam funds and offer Putnam asset management capabilities throughout the Spanish market.
Putnam Investments is AIA’s first alliance partner. The agreement includes Putnam affiliate company, PanAgora Asset Management, for quantitative and structured products and asset management capabilities.
The new subsidiary will pursue an open architecture-product approach to allow investors to incorporate products from other asset management firms, such as Putnam, into their strategies.
Maria Vasquez, appointed to head up AIA as partner and CEO, said the agreement with Putnam had expanded AIA’s product range.
AIA will initially focus on three asset management categories;traditional specialised assets, quantitative management, and hedge funds. In the future it said it intended to recommend alternative investments such as private equity and real estate.
AIA has indicated that it will shortly close another new agreement for the distribution of hedge funds, both fund of funds and single strategy.
By Lisa Haines
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