Singer & Friedlander agree tie-up with Belgian ban
Singer & Friedlander Investment Management and Bank Corluy Effectenbankiers, the Antwerp-based private bank, have created a strategic alliance to manage Belgian SICAV s and service the institutional investment markets of Belgium and Luxembourg.
The alliance is part of a move by Singer & Friedlander to create a network of investment management tie-ups between niche players in Europe in response to globalisation and asset management consolidation.
Peter Dencik, director at Singer & Friedlander in London, explains: “We are looking to see if we can also find suitable partners for a network in the Netherlands, France and Germany.
“The emphasis on combining local players with our investment strengths is particularly relevant because many smaller domestic companies do not have the capacity to manage international equities.
“With changing European legislation and the development of pension funding with international diversification, smaller players need this capability.
“For a company like us, the most practical way to get a local presence is to create a relationship where the domestic group keeps their independence.”
Dencik sees the Belgian market as a ripe prospect at present. “There is a trend towards funding pension schemes, and the smaller schemes are looking to use Belgian SICAVs. We needed someone who could wrap our products and Bank Corluy know the legislation issues and have a lot of retail products themselves,” he says. Hugh Wheelan