Danske Bank UK And Architas Complete £70mn Fund Merger
Danske Bank and investment house Architas has announced the successful merger of the Danske Fund, with total assets of £70 million, into the over £800 million Architas Multi Asset Blended fund range. The four existing Danske sub-funds were individually matched to funds within the risk rated & risk targeted Multi Asset Blended range, managed by Architas. This fund merger underscores the already strong relationship between Architas and Danske Bank in the UK.
Jeremy Stewart, general manager, Private Banking and Wealth Management, Danske Bank UK, said: "We wanted to find a solution that was in the best long term interests of investors. Having worked closely with Architas we know they have a strong track record of delivering consistent performance in line with the risk rated and risk targeted parameters of their funds.
"We believe moving the existing assets into the Architas Blended fund range, which was approved by investors, provides reassurance that their assets are being managed in line with their investment objectives."
In December 2012, Danske Bank launched a new restricted offering to its Personal Banking customers, with the Architas Multi Asset Blended fund range, administered on the AXA Wealth Elevate platform, at its core.
Cedric Bucher, head of business development, Architas, added: "Danske Bank is a strategic partner for Architas, and we were delighted to have been invited to work with them on the fund merger. With changes in both regulation and customer demand, we are working closely with our key clients to meet the changing environment. The successful implementation was achieved by a multi-disciplinary project team with experts from across the business, including the investment team, product management and operations."
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