Company briefs
RMB names managers for multi-manager Sicav fund
Axa, UBS and JPMorgan Fleming have been selected for a new multi-manager Luxembourg-based fund launched by RMB International. The open-ended Sicav fund will encompass five equity compartments, one fixed income and five hedge funds. Other managers include Gartmore, T Rowe Price, State Street, BGI and Vontobel.
Japanese equity inflows exceed $1bn in one week
Japanese equity funds were flooded with new money during the first week of April, according to EmergingPortfolio.com Fund Research (EPFR). The 196 Japanese equity funds monitored recorded inflows of $1.1bn (e930m) in the week ending April 7. Four members of our asset allocators’ panel have increased commitments to Japan, although Credit Suisse urges caution.
Abbey launches Infomediary
UK bank Abbey National, which recently outsourced £30bn (e25bn) to State Street Global Advisors, has gone live with Infomediary, an integrated back- office solution from Brown Brothers Harriman. Infomediary provides messaging which enables the bank to collect trade instructions from external sub-advisers and feed them directly into its internal accounting system.
Alliance extends its reach to Luxembourg and Stockholm
US funds giant Alliance Capital Management has opened new offices to service distribution partners in Stockholm and Luxembourg. The European arm, known as ACM International, already has offices in London, Madrid, Munich, Paris and Zurich.
BNP buys Javelin business
BNP Paribas Asset Management is set to acquire the $650m (e550m) Javelin hedge fund of funds business from Zurich Financial Services. The business will be supervised by the BNP Paribas Fauchier Partners subsidiary.
