Aegon and Citigroup create Europe-wide investment solution
6th September 2006
Aegon NV and Citigroup are to combine their investment activities in order to create an investment service that will support the needs of investors, institutions, asset managers and pension funds throughout Europe. The integration will also create an E40 billion investment pool.
According to Aegon, the solution enables each participating entity to fulfill the different tax, accounting, regulatory requirements and reporting obligations of the various countries and jurisdictions in which its investors reside.
The platform also offers the capacity to achieve higher investment performance through the ability to invest in a wide range of asset classes and investment styles. It is expected that the platform will be fully operational by the third quarter of 2007.
"The platform's possibilities are almost infinite and supports Aegon's strategy to provide our clients with innovative asset management solutions efficiently and effectively, allowing our clients to benefit from the product and scale benefits that can be achieved," said Erik van Houwelingen, boardmember of Aegon.