Turner to Sell Bank of Ireland Strategy To Separately Managed Accounts
July 29, 2002
Turner Investment Partners has struck a deal with Bank of Ireland Asset Management (BIAM) to distribute the bank's international value equity investment strategy among managed account platforms throughout the U.S.
Under the deal, Turner will oversee sales, marketing, operations and customer service for the BIAM product. Turner manages $8 billion in mutual funds and separately managed accounts.
"Our clients have been asking for a strong, international equity investment strategy, and we had been looking for a way to deliver this capability without interfering with our current investment management teams or jeopardizing our independence," said Turner President Stephen Kneeley.
Likewise, Denis Curran, president of BIAM's international business, said that his firm has been "interested in getting into the managed accounts market for quite some time."
He said the alliance is ideal because BIAM will "focus on delivering our international investment expertise to a new group of clients while Turner provides the all-important sales, servicing and operational backup."
"It's a win-win scenario," Kneeley said.