FRANCE - The BNP Paribas Group is centralising its multi-management teams in independent investment company Cortal Consors Fund Management (CFM).
“Originating from the consolidation of the BNP Paribas Asset Management and Cortal Consors Fund management multi-management teams, CFM has become a platform of expertise serving its internal and external distributor clients,” the firms said in a joint statement.
CFM has more than e12bn in discretionary and advisory portfolios and is a “European leader” in open architecture, according to the statement.
The new firm offers a broad range of made-to measure solutions including analysis of external managers, fund advisory, selection and monitoring, investment management, management of fund of funds and funds of managers and management of French-domiciled funds.
“The independent status of the new firm ensures a transparent, objective service for clients,” the statement said.
“With this new organisation, CFM aims to accelerate its European development and double its assets within five years.”
BNP Paribas Asset Management has e195.6bn in assets under management. Cortal Consors, a company of BNP Paribas, is a European broker in personal investing and online trading with a presence in Germany, France, Spain, Belgium, Luxemburg and Italy.
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