Munich-based asset manager Assenagon has announced the opening of its new multi-asset office in Frankfurt, as of April 2015.
Thomas Romig (pictured) as head of Multi Asset and Thomas Handte as senior portfolio manager will be establishing the new multi-asset business from the Frankfurt office, both joined the team recently from Union Investment.
“Multi Asset strategies have become established on the market as complete wealth management solutions,” said Romig. “But the changed market environment with stronger correlations and lower returns is presenting these products with new challenges.” The past few years have shown that equities and bonds can move up and down at the same pace as one another, so distribution among different asset classes no longer always has the desired effect of a better risk/return profile.”
“We see our office in Frankfurt, a leading financial centre in Germany and Europe, along with our new Multi Asset business area as the logical next steps to tapping additional growth potential” comments founding partner Hans Günther Bonk.
The new Frankfurt office will be Assenagon’s fourth location, in addition to the existing Munich, Luxembourg and Zurich offices.