As of end-2019, London-based Schroders Investment Management had $662.6 billion of assets under management, and Schroders Real Estate had $21.6 billion of assets.
The acquisition reinforces Schroders’ private assets and real estate capabilities, building on the recent purchases of Blue Asset Management, the value-add real estate specialist in Munich, and Algonquin, the Pan-European value-add Real Estate Hotel
A stake sale will help Edelweiss, which is battling rising bad loans and liquidity issues, raise funds for its credit businesses.
Edhi expressed optimism that mutual funds were still a promising long-term investment option, on the assumption that market conditions and investment instruments gradually improve after the pandemic subsides.
The award is the seventh accolade or industry citation to be won by Avaloq in 2020; most recently, it won the Best Outsourcing Solution and Best Transaction Processing awards at the WealthBriefing Asia Awards 2020.