The DM400m (E205m) Berlin-based Apothekerversorgung retirement plan for German chemists has awarded a DM30m European equities mandate to ABN Amro in Germany, following tenders from five investment managers.
The fund covers around 3,000 chemists and Joern Heinrich, financial manager, comments: “ We selected ABN Amro to manage the assets because of their good European equities track record, the quality of their presentation and the level of fees, which were the most competitive amongst the managers.”
Cologne-based RMC advised on the tender. The rest of the scheme’s assets are managed by Oppenheimer through an identical European equities brief.