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Administration February 8, 2002
Northern Trust and Helaba Join up in Germany
August 14, 2001 (PLANSPONSOR.com) - German
state-owned Landesbank Hessen-Thueringen (Helaba) and
Northern Trust Global Investments (NTGI) will team up to
offer institutional investment management services to the
German market.
Reported by Camilla Klein
The joint venture, Helaba NorthernTrust GmbH, will provide advisory services to Helaba Invest, the Helaba’s institutional asset management subsidiary, for institutional investors in Germany.
Helaba Trust, the research company of Helaba, and Helaba Invest, will each have a 25% stake each in the joint venture.
Products offered by the joint venture will include asset management services for stocks and corporate bonds, while thefirst jointly developed product will be a European Corporate Bond fund. Additional fixed income products, including high yield bonds, as well as US equities, are expected to be developed.
Helaba Invest ranks tenth by number of funds in the German market, has 166 clients and approximately $8 billion in assets under management, according to the firm.