A new specialist consultancy has been set up in Germany to advise on pensions asset management. Heu-beck-Feri Pension Asset Consulting is a joint venture between actuarial consultants Buro Dr Heubeck in Cologne and the Bad Homberg-based Feri Institutional Management.
Our primary market is pension funds and companies who build up their pensions liabilities internally through book reserves," says Gunther Baum, of Heubeck, who will be a managing director of the new company. Insurance companies, particularly the middle range insurers, will also be a key market.
The joint venture's other managing director, Hartmut Leser of Feri Institutional Management (FIM) a subsidiary of Feri Trust, says: "The idea was to bring consulting services as in the UK to German institutional investors. This market has started to grow and we reckon we are the largest supplier as we consult to some DM120bn (E61.3bn) of assets." He adds: "For pensions business, we have found that you need specialised knowledge on the liability side, so we felt it was a good idea to work with someone else. Heubeck was the ideal partner and they were looking for a partner who knew more on the asset management side."
The company will provide strategic asset allocation consulting, including ALM, as well as consulting on tactical asset allocation, structural consulting and selection of external managers, together with manager monitoring and performance measurement. Fennell Betson"