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Morgan Stanley IM has had offices in Paris since 1997, but until now was not active in the French market’s asset management sector. According to LePoint.fr, it is starting up now and is aiming at a 3 times asset increase in 3 years through its niche products and alternative investments.
“We are aiming at €7.7 to €9 million AUM within 3 years… Alternative products will be our principal growth engine in France”, Charlotte Kalaidjian, MS’ executive director, said to Reuters.
Morgan Stanley’s managed AUM in France total €2.7 billion today. After collecting €451 million net in 2006, MS IM saw its capital input reach €376 million since January 2007, especially in its currency arbitrage funds and Japan and Asia stocks funds. 60% of it comes from institutional clients such as insurances or pension funds, the rest from private banks and multi-asset management.
French institutional investors, who are massively invested in the bond market (over 70%), need to expand their portfolio’s performance. “The French market is very hungry for absolute return funds, to diversify their fixed income portfolios but also to boost their monetary portfolios… also, there are fears of rate hikes and a lot of fixed income assets managers are looking for new allocations”, she said.
Morgan Stanley also wants to launch by year-end two FCPRs (venture capital trusts), one dedicated to infrastructures, the other dedicated to capital investments through funds of funds, to adapt to the regulato...................... To view our full article Click here
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