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DWS looks to buy RAM to gain multi-manager service

DWS Investments has emerged as the early front-runner to buy Rothschild Asset Management after admitting it is interested in acquiring RAM&#39s multi-manager service.

Managing director Michael Warren says DWS intends to take a close look buying the fund of funds business because it needs a multi-manager service to help it become a top 10 asset manager in the UK.

With around £1bn of assets under management, Warren says the multi-manager represents “good critical mass” for DWS but at this stage it is doubtful that RAM would be prepared to sell individual parts of the business.

However, the chances of a deal going through may have been boosted by the news that RAM chief executive Paul Manduca is joining DWS in December as European chief executive.

Warren says: “We have not got an unfettered fund of funds range and that is the interesting part of RAM for us. It would complement our business and we will take a look at it.”

RAM head of retail Nick Hodgson says: “The shareholder has a strong preference to sell the business as one entity. We shall see how that plays out.”

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