NETHERLANDS - Holland Beleggings Groep (HBG), subsidiary of insurance giant Zwolsche Algemeene, has appointed Dresdner RCM to manage its 45 million euro Asian equity mandate. The fund was formerly managed by Lombard Odier.
Says Rohan Walsh, product manager at HBG: "Although less known as a prominent Asian equity fund manager, Dresdner RCM was invited to tender for the mandate as it too forms part of the Allianz Group. Due to its strong proposition, its excellent track record and the local expertise Dresdner RCM was awarded the mandate."
HBG parent, Zwolsche Algemeene, is in the process of merging with insurance company Royal Nederland, which is part of the Allianz-Dresdner Group.
The mandate will be split equally between Far East (ex Japan) and Japanese equities, and will be managed by Dresdner RCM’s investment team base in Hong Kong and Meiji Dresdner Asset management Ltd based in Tokyo.
This is the first mandate Dresdner RCM has been awarded by HBG and the second major new mandate to be secured in the Netherlands since opening a Netherlands office one and a half years ago.
HBG has around 13 billion euros in funds, whilst Dresdner RCM manages and advises on over 43 billion euros.