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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.”


Derbyshire Building Society – Derbyshire Dual Bond

Tuesday, 17 September, 2002 Type: Combined high interest account and Norwich Union portfolio bond HIGH INTEREST ACCOUNT Minimum-maximum investment: £3,000-£150,000 Interest rates: 7% gross a year Term: One year Offer period: Until further notice Withdrawal penalties: No withdrawals permitted during term UNIT-LINKED BOND Aim: Income or growth Minimum investment: Lump sum £7,000 Fund links: Norwich […]

IFP welcomes FSA comment on AFA

The Institute of Financial Planning has welcomed the comments from the FSA&#39s David Severn that the regulator would be happy to see the back of the AFA tier.Speaking from the IFP&#39s annual conference in Telford, chief executive Nick Cann said the AFA concept was a ridiculous category which never would have worked in the commercial […]

NU in £500,000 cash rescue of Burns-Anderson

Norwich Union provided a £0.5m bail-out to IFA network Burns-Anderson last month after it had failed to meet FSA capital adequacy requirements for at least four months, Money Marketing can reveal.It had been operating without adequate capital since at least the end of March and it was not until August that NU provided the cash. […]

Halifax joins Pink Home Loans lender panel

Halifax bank has joined Pink Home Loans mortgage panel bring the total number of lenders signed-up to 33. Halifax says joining the panel is a sign of its commitment to the intermediary market. It says it is investing in e-trading solutions and will offer Pink members an on-line mortgage promise facility and up to date […]

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What price (more) freedoms?

George Osborne will make his last Budget speech of the current parliamentary term this week, and the early media briefings suggest that pensions will again feature heavily in that statement. So what are we able to learn from the weekend’s coverage?


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