"DB Advisors acquires certain Standard Life Investments money market funds" says a press release posted Tuesday. It comments, "DB Advisors, Deutsche Bank's global institutional asset management business, has acquired some of Standard Life Investments (Global Liquidity Funds) p.l.c.'s money market funds. The acquisitions were completed on June 1, following a unanimous vote last month by shareholders in the funds in favour of amalgamation into DB Advisors' existing money market funds. The amalgamation adds approximately L2 billion of sterling assets, E1.25 billion of euro-denominated assets and a small balance of US dollar assets to DB Advisors' global liquidity management business." Reyer Kooy, Head of Liquidity Management for DB Advisors in the U.K. & Ireland commented, "We are delighted to welcome investors in the Standard Life Investments funds as clients. We are committed to serving the needs of money market fund investors in the U.K. and worldwide." The press release adds, "This amalgamation follows the successful conclusion of a similar initiative between DB Advisors and Henderson Global Investors. In March 2011, DB Advisors merged the Henderson Liquid Assets Fund into its Sterling-denominated DGLS fund. Approximately L2.5 billion of assets were transferred to DB Advisors. With approximately E85.3 billion in money market assets under management (as at March 31, 2011), DB Advisors is a leading provider of cash and short duration investment strategies for investors around the world." DB now ranks 7th among the 21 managers of "offshore" money market funds tracked by Crane Data's Money Fund Intelligence International with $37 billion in assets and 16th out of 78 U.S. money fund managers tracked by our Money Fund Intelligence XLS with $51.5 billion in assets.
