GREECE/UK - F&C has entered the Greek fund management market by teaming up with fellow Eureko subsidiary Interamerican.
The alliance will see Interamerican provide and control local distribution, whilst F&C will supply asset management and product development. The agreement coincides with the conversion to the euro and what F&C calls the growing appetite of Greek investors to diversify their investments beyond domestic securities.
As part of the tie-up, F&C will also acquire Interamerican's mutual fund arm, Intertrust. The firm, which will be rebranded as F&C Greece, will continue to run its own portfolio management, product design, fund administration and customer service operations but will now have F&C's resources to fall back on.
Arnold Hoevenaars, CEO of Eureko, said: This development is yet another step in Eureko's strategy of uniting our asset management activities into a single, professional platform to better serve our customers and shareholders.
F&C's partnership with Interamerican and the takeover of Intertrust is subject to regulatory approval.
By Geoffrey Ho
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?
RPMI Railpen is in the next step in the journey towards achieving cost disclosure. Victoria Bell tells Stephanie Baxter about taking part in the Cost Transparency Initiative's pilot phase
Interserve's numerous defined benefit (DB) schemes have retained a sponsor link after the company entered into administration and was sold.
Chris Hannon has been named chairman of the Railways Pensions Trustee Company after a unanimous vote of approval from its board last week.