Following BaFin’s approval in Germany, Oddo & Cie has closed the acquisition of Meriten Investment Management. Together with Oddo Asset Management, the newly formed asset manager will be named Oddo Meriten Asset Management. With €45bn assets under management, the Franco-German player becomes a Eurozone’s independent asset manager leader. The Oddo Group confirms its expansion on the German market as well as its long term commitment to the asset management industry.
The Franco-German DNA of Oddo Meriten Asset Management translates into its current clients’ geographic breakdown: 55% in Germany, 37% in France, 8% in other markets of which globally 76% are institutional investors and 24% are third-party distributors.
The two key investment centers and geographical pillars of Oddo Meriten Asset Management are Paris and Düsseldorf with additional distribution offices in Milan, Geneva and Singapore. The two legal entities in France and Germany will be led as before by Nicolas Chaput and Werner Taiber. Nicolas Chaput becomes Global CEO and co-CIO of Oddo Meriten Asset Management while Werner Taiber, based in Düsseldorf, becomes Global Deputy CEO in charge of Sales Development.
Oddo Meriten Asset Management, a specialist focused on European markets, enhances its investment capabilites on all main asset classes. As of today, assets under management breakdown as follows: €17bn in Fixed Income, €8bn in Equities, €9bn in Asset Allocation, €2bn in Convertibles Bonds, €6bn in Systematic Strategies and other €3bn.
"Our existing clients will benefit from our enhanced combined capabilities. Our German institutional clients will be offered access to convertible bonds and fundamental European Equities expertises. As for our French and international institutional clients, they will get access to corporate Investment Grade and High Yield, Euro Aggregate capabilities as well as quantitative strategies (Trend Dynamics, Quandus). On the German Wholesale and IFA side, clients will benefit from a targeted mutual fund range, focused on asset allocation (Oddo Patrimoine, Oddo ProActif Europe, Oddo Optimal Income) and European stock picking (Oddo Génération, Oddo Avenir Europe, thematic funds on real estate and banks)", according to the firm.
Oddo Meriten Asset Management’s 276 employees are committed to ensure continuity of client satisfaction.
Philippe Oddo, Managing Partner of Oddo Group says: "We are pleased to welcome our Düsseldorf colleagues. Thanks to them we are creating a Franco-German group. 25% of our revenues and teams are from now in Germany. Oddo’s partnership will be opened to Meriten’s talents. We want to continue to retain and to attract the best people.”
“Our unmatched understanding of French and German markets will enable us to bring a unique set of European investment solutions to our clients”, says Nicolas Chaput. “This is a major change of dimension, as we have become one of the top independent players in the Eurozone. We are committed to provide sustained top notch performance to our clients and to keep investing into proprietary fundamental and quantitative research.”
“The merger of Oddo Asset Management and Meriten Investment Management ensures the consistency in our investment approach as well as the continuity with our clients in Germany and abroad. In addition it supports our ambition to further grow the business with existing and new clients,” says Werner Taiber.