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
Here it is... The video of all the highlights from last night's UK Pensions Awards.
Here they are...all the pictures from the UK Pensions Awards 2019.
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.