NETHERLANDS/NORWAY – Crédit Agricole has gained approval from regulatory authorities in both the Netherlands and Norway to begin marketing the group’s Luxembourg-domiciled SICAV, CA-Funds, to institutional investors.
The CA-Funds umbrella comprises 39 portfolios and will primarily be promoted by the sales team of Crédit Agricole Asset Management (CAAM) Brussels.
Jean-François Pinçon, head of business development for Northern Europe at CAAM, says the Dutch development is particularly significant: “We know how difficult this market is for foreigners, in particular for third-party distribution, but we have no doubt that CA Asset Management has a card to play there. CA-Funds is our international flagship fund and therefore an excellent window to extend our activity in the Netherlands in particular towards multi-managers and local banks opening to third-party funds.”
He adds that the Norwegian push is the logical progression to the firms existing Swedish and Finnish presence in the Nordic region.