GERMANY – Germany’s Deka Group has said it will now organise all of its institutional business under the brand Deka Institutionell.
The new entity will offer the “full spectrum” of institutional asset management and liquidity management, as well as credit and risk management. It will also offer Master-KAG and custodian services.
Oliver Behrens, chairman of the DekaBank responsible for institutional clients, security investments and capital markets, said: “Institutional business fits our business model. It fits the remit we have been given by the savings banks (Sparkassen) and our self-image – professional but down to earth.”
Apart from savings banks, building societies and insurers belonging to the Sparkassen financial group, Deka also wants to attract Pensionskasen, Versorgungswerke and foundations with its second-pillar pension products, as well as other institutional investors falling under the insurance supervisory regulations (VAG).
Klaus-Dieter Böhme, head of sales for institutional clients at the DekaBank, said Deka Institutionell’s wide range of offerings and its relationship with clients were its main strengths.
“Currently,” he said, “our customers are torn between necessary return targets in a low-interest environment and growing regulatory limitations – this increases the requirements put to asset managers.”
The Deka Group manages around €85bn for institutional investors.
In addition to Spezialfonds and open-ended funds for institutional investors (Publikumsfonds), this also includes ETFs and assets under advisory.
Approximately 60% of the assets is managed for companies and institutions belonging to the Sparkassen financial group.
Böhm said he would like to see the institutional business reach the €100bn AUM mark within three years.