GERMANY - The asset management division of Metzler, the Frankfurt based bank, saw an AUM increase of 10% - to €33bn - in 2007.
As in the previous, year, in which assets increaed by 50%, the bank attributed its asset growth to strong demand for master KAG solutions, which allow for the pooling of institutional assets on a single platform.
"Despite the partly turbulent market enviroment we are please with the development of our core business," the bank noted in a statement. There had been no exposure to sub-prime investments, it added.
In the areas of pension management Metzler noted a trend towards joint pension solutions for members of associations such as the VDMA association of German machine and plant manufacturers and the GWA association of communication agencies.
Other clients of Metzler Pension Management are the Boston Consulting Group, publishing group Bertelsmann, Beiersdorf, Henkel, Royal Bank of Scotland and Pirelli, the bank noted.
The bank does not disclose any further details on the breakdown of assets under management or in- and outflows.
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