KBC sign deal with Northern Trust

KBC Asset Management and Northern Trust’s European Manager of Managers (MoM) business have signed a deal that will lead to the creation of a new jointly-managed MoM pension product.

This deal will see KBC become the sole distributor of Northern Trust’s products in the Irish market.

It is estimated inflows into multi-manager products within the Irish marketplace will be in excess of €1 billion by 2007. MoM products are aimed at pension fund trustees who want to diversify their fund manager risk.