Dresdner RCM registers umbrella funds in Ireland
IRELAND/LUXEMBOURG- Allianz Group’s Dresdner RCM Global Investors has announced the registration of two umbrella funds in Ireland. Dresdner’s Global Strategies Fund and the Global Distributor fund are both open-ended SICAV-registered investment companies providing institutional investors with access to twenty three equity, bond and cash funds.
Dresdner says it has registered the funds in response to demand from small and medium sized pension funds, corporates and charities. The global strategies funds comprise nine equity, four bond and two cash funds while the distributor funds include six equity and two bond funds. While the two types of fund are identical in their investment approach, the latter distributes income.
Says Eilish O’Hagan, director of business development: “our market intelligence shows that Irish pension fund consultants are increasingly advising their clients on diversifying their assets outside their domestic market.
“Recent research carried out by Dresdner RCM Global Investors showed that seven out of ten global investment consultants believe that as much as 50% of a typical pension fund’s portfolio should be invested overseas.”
Dresdner RCM Global Investors manages e153bn in assets.