Sweden’s IPM expands First Quadrant venture
SWEDEN – Swedish investment strategy firm Informed Portfolio Management has expanded its European marketing deal with California-based First Quadrant.
They said the joint venture agreement would focus on tactical asset allocation and currency management in Europe. Under the new deal, they said, they would offer “significantly enhanced” services to pension funds and other institutional investors.
First Quadrant will provide investment management technology to IPM and IPM will distribute and manage First Quadrant's products in Europe. The new deal builds on a Nordic-specific agreement they made in 2001.
"This is an ideal time for us to expand our reach in Europe, and tactical asset allocation is a product that is currently well-positioned for the European marketplace," said Max Darnell, chief investment officer at First Quadrant.
IPM’s managing partner Jonas Rinne said: “The venture is an important milestone in our objective to become a leading quantitative investment manager focused on providing alpha to institutional investors across Europe."
First Quadrant manages more than 14 billion dollars (12 billion euros).