Colonial First State awards $385m mandate

Colonial First State has awarded a $385 million global real estate securities mandate to a global asset management firm.

Deutsche Asset Management will oversee the strategy, headed up by the firm's global real estate securities team. The team is led by head of liquid real assets John Vojticek.

Deutsche AM Australia head Chris Robinson said: "This is a great achievement for our real estate securities business recognising our deep history of delivering strong, stable outperformance and unique investment approach."

"We look forward to working closely with the team at Colonial First State on this strategy," he added.

The mandate follows Deutsche AM rebranding under its global retail arm, DWS, in December. Deutsche Bank said all of Deutsche Asset Management's business lines - institutional and retail segments and across its active, passive and alternatives range - will unite under one umbrella and operate autonomously under a new legal structure coming into effect in the first quarter of 2018.

Xtrackers and RREEF, its exchange-traded funds (ETFs) and real estate brands respectively will stay as is on a product level.

Deutsche Bank also announced it established a new management team to help support its growth strategy, which comprises: Nicolas Moreau (chief executive and chair of managing directors), Claire Peel (chief financial officer), Jon Eilbeck (chief operating officer) and Nikolaus von Tippelskirch (chief control officer).

Von Tippelskirch, who has been with the bank for 18 years, will also be responsible for legal, compliance, risk, governance and legal entity management. He was most recently the global head of incident and investigation management.

It also includes Stefan Kreuzkamp (chief investment officer and co-head, investment group), Pierre Cherki (co-head, investment group), Bob Kendall (co-head, global coverage group), Thorsten Michalik (co-head, global coverage group).

Under the new structure, Deutsche Bank chief administrative officer Karl von Rohr will become Deutsche AM's chair of its supervisory board, which will comprise independent members, shareholder representatives and employee representatives yet to be announced.

Read more: Colonial First StateDeutsche Asset ManagementChris RobinsonDeutsche AM AustraliaJohn Vojticek
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