DWS is to introduce a group “sustainability office”, the asset manager announced today in connection with its third quarter results.
In a statement, it said would be making the move to respond to growing demand for ESG investments, and that the unit would “ensure an efficient and holistic approach in meeting both client and regulatory needs and expectations with regard to ESG”.
DWS already has a responsible investment office and when asked about the difference between this and the new unit, a spokesman said the group sustainability office would coordinate all ESG efforts within DWS’ fiduciary business for its clients and combine that with the corporate side.
There are multiple streams focusing on sustainability and ESG overall as investment topics within DWS, he said, with the existing responsible investment office part of the asset manager’s traditional asset class investment platform and the alternatives platform also having a sustainable investing team.
DWS today announced a third consecutive quarter of net inflows, taking the total net inflows for the first nine months of the year to €12.9bn. It said this was a flow turnaround mainly driven by strong performance and momentum in its targeted growth areas of multi assets, passive, and alternatives.
RWC buys back equity from Schroders, partners with Lincoln Peak
The €16bn asset manager RWC Partners said that it had signed a definitive agreement for listed asset manager Schroders to sell its equity stake in RWC back to the company and to RWC’s new long-term partner, Lincoln Peak Capital.
Subject to regulatory approval, the transaction will see Schroders completely exit its stake in RWC, it said. The financial terms of the transaction were not disclosed. Schroders acquired a 49% stake in RWC in 2010, with its now group chief executive Peter Harrison rejoining the firm in 2013 from RWC, where had been chairman and CEO.
RWC is a privately owned and independent asset manager. It said it had seen significant growth in its institutional business over the last four years, adding that it had acquired over 100 new institutional clients from across the world.
Boston-based Lincoln Peak Capital is a private organisation focusing on long-term minority investments in high quality asset managers.
Dan Mannix, chief executive of RWC, said he welcomed Lincoln Peak as a new shareholder, adding that RWC had known the company for many years.
He said that Lincoln Peak had committed to RWC “for the next decade and beyond”.
Tony Leness, co-founder and managing partner of Lincoln Peak, said its long-term relationship with RWC had provided it with a “unique window to understand RWC’s culture and potential”.
RWC specialises in long-term investment strategies for developed and emerging market equities as well as convertible bonds.
Lincoln Peak currently has partnerships with six leading asset managers, with assets under magement of more than €72bn.