Schroder Investment Management has been appointed adviser to $1.2bn (EUR1.4bn) assets following Skandinaviska Enskilda Banken AB's (SEB) outsourcing of investment management activities.
SEB Invest, the fund management arm of Swedish financial services group SEB, shortlisted 3 undisclosed candidates for the mandate following the closure of the firm’s Hong Kong and Tokyo offices.
SEB closed its investment banking operations in the regions in January. The asset management businesses will cease in August.
Schroders will sub-advise 22 funds covering the Japanese, Asia ex-Japan and emerging markets equities component of SEB's mutual fund and certain institutional assignments.
The Swedish financial group, which manages approximately assets US$65bn in total, announced its intention to appoint external managers to the portfolios in order to focus on the Nordic region, Europe and North America.
The agreement becomes effective on August 31, 2001.
William M Mercer advised the move.
By Madhu Kalia
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.