F&C sets out global distribution plan

At its annual results presentation to City analysts today, leading fund management group F&C Asset Management PLC (FCAM) outlined plans to broaden its international distribution capabilities into new markets such as Italy, Spain, Chile and Russia. Furthermore, F&C said that it is actively exploring distribution in Asia and the Middle East.

The focus on international distribution follows the completion of the first year of F&C's three-year revenue growth plan. During 2007 F&C invested in products, people and infrastructure as the first phase of its plan, strengthening its institutional and wholesale distribution capabilities with a string of new appointments and the registration of its funds in Austria, Switzerland and the Nordic countries.

On the back of its beefed up distribution, enhanced product range and strong investment performance on a range of SICAV funds, F&C plans to both drive sales volumes in its established markets as well as those it entered last year. Key products for F&C include specialist funds focused on Asia, Emerging Equities, Sustainable Investment, Global Equities, Convertible Bonds and Emerging Market Debt.

Cristóbal Méndez de Vigo, Head of Distribution and Business Development at F&C, explained: "During the second half of 2007 we substantially reorganised our wholesale and institutional businesses. Teams are now integrated and strengthened with a number of new hires. We have also been busy making good progress getting funds registered into new jurisdictions with a view to driving sales through during 2008 and beyond."

As part of its plans to expand its European footprint, the firm has just concluded a deal with the Allfunds Bank distribution platform which will enable F&C funds to be accessed in a number of new territories, including Italy and Spain. F&C has also recently established distribution relationships with banks in Italy and Russia.

"Europe will remain our primary distribution focus but we are seeking additional opportunities around the globe. Our extended and improved product range and service platform, as well as our central and on-the-ground sales support in Europe and the US - and soon in Asia and the Middle East - are allowing us to become a partner of choice for more global distributors," he commented.

"Our US office has been doing a great job, particularly with regards to sustainable investment products. We now plan to leverage that presence in order to market our products into Canada. Additionally, we have been exploring opportunities in Latin America including an agreement with IM Trust that will enable us to enter the Chilean market. These are really exciting developments that are shaping the future of F&C as a truly international fund management company with global distribution capabilities," concluded Méndez de Vigo.