UK - Fund manager F&C Management has added Friends First Asset Management to its operations, adding £2.7bn (EUR4.4bn) to its total assets under management.
Based in Ireland, Friends First is part of Dutch financial services group Eureko BV. Pending regulatory approval, Friends First will be integrated into F&C, a move which was instigated by the Irish fund manager.
Friends First provides investment services to clients worldwide, including corporate and public pension funds, insurance companies, financial institutions, charities and foundations. It also offers a range of segregated equity and fixed income products. In addition, specialist pooled vehicles are available for smaller institutional clients.
Bob Jenkins, F&C's chief executive officer said: Our objective is to build a leading, autonomous, pan-European asset management company. This welcome development moves us a step closer to our goal.
“The addition of Friends First Asset Management, together with a strategic partnership with Friends First, will provide a strong base from which to serve the Irish market.
F&C was formed in May when Eureko decided to combine the asset management operations of the UK's Foreign & Colonial Management, Dutch manager Achmea Global Investors and Portugal's AF Investments into a single pan European business.
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