Investment firm Zurich has appointed Cohen & Steers and Lazard Asset Management to its stable of investment managers.
Cohen & Steers will manage Zurich's Global Property Securities Fund while Lazard will manage the Global Small Companies Fund.
"We believe that there are a lot of opportunities available in small cap stocks. These companies are the blue chip stocks of the future. Lazard already manages our international shares portfolio and we believe they are also the best managers to run the small cap fund," Zurich director of investments Matthew Drennan said.
Cohen & Steers specialises in global real estate investment trusts (REITS).
"The global REITs market is one of the fastest growing sectors with huge opportunity. We have been looking at this sector for sometime but wanted to partner with the right manager," Drennan said.
Zurich represents the only retail distribution deal for Cohen & Steers in the Australian market.
Drennan said the firm is approached by global managers on a weekly basis and has signalled that more managers will be appointed in 2008.
"While conscious of the need to avoid over stretching ourselves, we have the capacity to bring on further new mangers in 2008 and beyond," he said.
