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.
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