Deutsche Asset Management (DeAM) has opened an office in Auckland, New Zealand in a further expansion of its fund management business in Asia Pacific.
The firm has assets under management in excess of NZ$44 bn in Australia and New Zealand, and NZ$1.4trn globally.
Kevin Stirrat, a director with the fixed income division of Deutsche Bank New Zealand, is heading the fund management business in New Zealand and brings more than 15 years experience in New Zealand’s financial markets to the role.
DeAM CEO, Brian Scullin said: “The focus for us is very much on the wholesale market with a strategic focus on the increasing allocation of assets offshore. We see the greater allocation to offshore assets by New Zealand pension funds and institutions as a real opportunity for global players such as Deutsche.”
DeAM’s product offering for the New Zealand market will include index enhanced equities, absolute return funds, currency overlay and global fixed interest, which will be managed by DeAM investment professionals in London, New York and Philadelphia.
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