Deutsche Bank Welcomes Proposal to Merge Henderson Money Market Fund into DB Advisors Fund Range
Deutsche Bank's Asset Management business today welcomed a proposal by Henderson Global Investors to merge the £3.3 billion Henderson Liquid Assets Fund (HLAF) into the money market fund range of DB Advisors. DB Advisors is Deutsche Bank's global institutional asset management business.
Under the proposal made by Henderson to HLAF shareholders, HLAF will be fully merged with the Deutsche Managed Sterling Fund, part of the Deutsche Global Liquidity Series of money market funds. Both HLAF and the Deutsche Managed Sterling Fund are AAA-rated, GBP-denominated, treasury-style money market funds.
The proposal will be voted on by HLAF shareholders in January 2011. If approved, HLAF will be merged into the Deutsche Managed Sterling Fund in February 2011, subject to final regulatory consent.
DB Advisors already serves as the investment manager of HLAF. Henderson appointed DB Advisors to manage the fund on a sub-advisory basis on October 12, 2010.
Mark Bolton, CEO of DB Advisors UK, said: "We would be delighted to extend our relationship with investors in HLAF and welcome them as direct clients. Investors in HLAF already have access to DB Advisors' global investment management expertise. The fund merger would bring HLAF onto DB Advisors' liquidity management platform, giving the fund's investors all of the other advantages that a large global player like Deutsche Bank can provide. They will be joining a platform with deep resources, a robust credit process and a strong commitment to transparency."
With over €94 billion in money market assets under management (as at Sept 30, 2010), DB Advisors is a leading provider of cash and short duration investment strategies for investors worldwide. These include U.S. dollar, Euro, and Sterling pooled money market funds, as well as bespoke separately managed accounts.
About DB Advisors
With €169 billion of assets under management for institutional investors worldwide (as at Sep 30, 2010), 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.
About Deutsche Bank AG
Deutsche Bank is a leading global investment bank with a strong and profitable 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 80,000 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
About Henderson Global Investors
Established in 1934, Henderson Global Investors is a leading independent global asset management firm. The company provides its institutional, retail and high net-worth clients with access to skilled investment professionals representing a broad range of asset classes, including equities, fixed income, property and private capital. With its principal place of business in London, Henderson is one of Europe's largest investment managers and employs around 930 people world-wide.
www.db.comContacts:
Deutsche Bank
Alison Taylor, +44(20)7545-7790
alison.taylor@db.com
or
Mayura Hooper, +1(212) 250-5536
mayura.hooper@db.com
© 2010 Business Wire
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