KAS gathers new clients
Dutch financial group Kas Associatie’s institutional banking division has picked up a raft of new clients, including Dutch investment group Robeco, Zwolsche Algemeen – the general insurance group, as well as the Stichting Pensioen fonds Tandartsen en Tandarts-Specialisten; the dental workers pension fund. The additions bring the number of new clients over the past 12 months to 18, adding Dfl13.2bn (e6bn) to assets under management.
KAS says the client growth reflects the shift in Dutch institutional investment emphasis away from the Netherlands and towards other Emu countries, where KAS is focusing its own business. The company says the ratio shifted from a 75-25 home bias at the beginning of 1999 to a 50-50 split by the year-end.
KAS clients now number 275, prompting an increase in institutional assets of 25% over 1999 from Dfl180bn to Dfl225bn.Bob Goulooze at KAS says services offered to clients include fund manager watch and tax reclamation.