EUROPE - French investment house Credit Agricole Asset Management (CAAM) and consultancy Watson Wyatt have signed an agreement for the development of Credit Agricole's European multi-manager operations.
CAAM - the EUR160bn unit of Credit Agricole Group - will leverage off Watson Wyatt’s international manager research capabilities for the selection of fund of funds managers, with a particular emphasis on mutual funds in Germany, Italy, Spain and France.
Commenting on the move executive vice president of CAAM Pascal Voison said that the agreement illustrated the firm’s commitment to accelerating the development its European multi-manager platform in Europe.
CAAM has also launched its multi-manager offer with two fund ranges - Master Selection for retail investors, and CA Multi-manager for the institutional market. Each fund will offer one fund invested in European equity and another invested in international stock.
The next step for this activity will take place at the beginning of 2002 with the extension of the offer to Italy, Germany, and Spain, said the firm.
By Madhu Kalia
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