Henderson Investors is set to expand its Continental operations through the proposed development of an asset manager relationship with Banca Popolare di Lodi (BPL), Italy’s ninth largest bank.
Henderson will take over the management of e2.8bn in international equity and bond funds to be co-branded by the two groups.
BPL, which manages a total of e4.2bn and has over 550 retail branches will continue to maintain its core asset management capability and management of local funds – whilst exploring the possibility of launching new dual products.
Henderson will also sell its Horizon SICAVs through BPL and establish a branch office in Italy.
Roger Yates, Hendersons’ managing director, comments: “The development of the relationship with Banco Popolare di Lodi represents an important step in our European strategy which should create significant value for the AMP group.”