French La Banque Postale and Malakoff Médéric, French company specialised in health insurance, have announced that their assets management subsidiairies, La Banque Postale AM and Fédéris Gestion d’Actifs, will work closer in the near future.
The deal would enlarge the range of products of both assets managements, especially in SRI funds, they said.
As a goal, La Banque Postale AM also expects to develop its assets management activity in mutual funds. The deal is to be concluded at the end of the first quarter of 2015, and would take effect by the end of 2015. La Banque Postale AM, managing €170bn of assets, and Fédéris Gestion Actifs, managing €26.1bn, would together become the fourth biggest institutional investor in France.