Frankfurt am Main, January 24 2018
Bernd Vorbeck, CEO Universal-Investment, said: “Lazard Asset Management is a highly reputable investment company and we are excited to be partnering with the German part of its fund business. We have implemented a range of administration services in order to cover the entire value chain beyond portfolio management. Insourcing, or from our clients perspective business process outsourcing, is one of our key business lines addressing both AIFM and asset managers, and winning Lazard Asset Management’s mandate is a big step toward further expanding it.”
Currently, Universal-Investment manages an insourcing volume of more than EUR 59bn. Mr. Vorbeck expects the strong pressure asset managers are under to become more efficient will lead to a change in the positioning of many players in the industry. As the leading master KVG service provider, Universal-Investment offers a wide range of services, dedicated and professional staff and a highly efficient platform including multi-user capability.
Andreas Hübner, CEO at Lazard Asset Management (Deutschland) GmbH, said: “We selected Universal Investment as part of a competitive pitch. Universal-Investment will assume a range of complex fund administration tasks on our behalf and therefore support our German business in a meaningful way.”
Universal-Investment to administer 21 funds with combined AuM of €1.5bn
Specialized platform raises efficiency and reduces costs
Insourcing defined as key business line to be expanded further
Lazard Asset Management (Deutschland) GmbH, a 100% subsidiary of Lazard Asset Management LLC, New York, was founded as German KVG (formerly KAG) in March 1999. The philosophy is to offer high quality individual investment advice in the German-speaking region, as well as active asset management, and client-oriented services, which differs from pure product providers. This approach allows Lazard to address the needs of institutional investors in the form of segregated accounts, outsourcing mandates, and mutual funds. The total firm assets under Management, as at 30 September 2017, are EUR179.2bn. As a German investment company, Lazard Asset Management (Deutschland) GmbH is subject to supervision by the Federal Financial Supervisory Authority (BaFin).
Please find more information on www.lazardassetmanagement.com