DB Advisors, Deutsche Bank’s global institutional asset management business, has acquired some of Standard Life Investments (Global Liquidity Funds) p.l.c.’s money market funds.
The acquisitions were completed on June 1, following a unanimous vote last month by shareholders in the funds in favour of amalgamation into DB Advisors’ existing money market funds.
The amalgamation adds approximately £2 billion of sterling assets, €1.25 billion of euro-denominated assets and a small balance of US dollar assets to DB Advisors’ global liquidity management business.
Reyer Kooy, Head of Liquidity Management for DB Advisors in the U.K. & Ireland said: “We are delighted to welcome investors in the Standard Life Investments funds as clients. We are committed to serving the needs of money market fund investors in the U.K. and worldwide.”
This amalgamation follows the successful conclusion of a similar initiative between DB Advisors and Henderson Global Investors. In March 2011, DB Advisors merged the Henderson Liquid Assets Fund into its Sterling-denominated DGLS fund. Approximately £2.5 billion of assets were transferred to DB Advisors.
With approximately €85.3 billion in money market assets under management (as at March 31, 2011), DB Advisors is a leading provider of cash and short duration investment strategies for investors around the world.
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.
About DB Advisors
With €164 billion of assets under management for institutional investors worldwide (as at March 31, 2011), DB Advisors offers a wide range of investment strategies across the risk / return spectrum. The business offers a range of pooled vehicles, separately management accounts, and other bespoke solutions. Clients include many of the world’s largest corporations, financial institutions and sovereign and supranational entities.
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