Global asset manager DWS Group has scored a $3.5 billion (€2.2 billion) mandate by ANZ Private to provide tactical asset allocation advisory services around its multi-asset model portfolios.
Having commenced in the third quarter of 2019, DWS has joined ANZ Private’s investment as part of the mandate.
It will assist the group’s investment council in global market perspectives and multi-asset model portfolio recommendations, in line with ANZ Private’s risk, tracking error and return objectives.
Sean Taylor, chief investment officer for the APAC region and head of emerging markets at DWS commented his company views the mandate as the beginning of a broader strategic partnership with ANZ Private.
“Critical to winning this mandate was our ability to present ANZ Private with a unified, global CIO view and strong multi-asset investment capability,” Mr Taylor said.
Mike Norfolk, managing director, private banking and advice at ANZ stated: “DWS [is] one of the world’s largest asset managers, with a strong history and proven track record in adding value to investment portfolios.
“Utilising [its] global reach and capability, DWS will provide ANZ Private and our clients with access to key investment insights and expert personnel,” he said.
Lidia Tomova, head of client coverage at DWS Australia said: “As a global diversified asset manager, DWS is well positioned to provide bespoke solutions to Australian institutional investors seeking to enhance their asset allocation investment process.”
DWS was reported to have more than $1.2 trillion in assets under management as of 30 September.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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