Strategy

US Investment Manager Moves into Spain

Nick Parmee 13 May 2008

US Investment Manager Moves into Spain

T Rowe Price, a US-based global investment manager, is making its Luxembourg SICAV range of sub-funds available to investors in Spain. This launch is the latest in the firm’s move to further expand across Europe. The SICAV includes over 20 investment sub-funds. The company will initially promote three equity portfolios: Middle East and Africa, Asia ex-Japan and Global Emerging Markets. The funds will be available to private investors via selected third party distributors/partnerships and directly to institutional investors. Andrew Marks, regional head for southern Europe, said: “Spain is important for the global growth of T Rowe Price. The institutional marketplace is developing, open architecture is firmly established in the high net worth channel and opportunities exist for groups with our credentials to partner with local players and provide the retail community with access to quality investment solutions. Consistent with our approach elsewhere, we will take a measured and targeted approach to our expansion in this market.” TRP had €239 billion ($371 billion) in assets under management at 31 March 2008 with clients in more than 30 countries serviced from offices in 12 countries, including in Amsterdam, Baltimore, Buenos Aires, Copenhagen, Hong Kong, London, Luxembourg, San Francisco, Singapore, Stockholm, Sydney, Tokyo and Toronto.

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