WGAM is the brand name under which Boston, Massachusetts-based Evergreen Investments conducts institutional business development, sales, and distribution efforts in non-U.S. markets. WGAM provides institutional investors access to a variety of strategies, covering the full spectrum of asset classes, including U.S. Equity, U.S. Small Cap Equity, Global Equity, Emerging Market Equity, Global Fixed Income, Global Asset Reserve, Emerging Market Bonds.
"This is a tremendous partnership for WGAM as it allows us to leverage hsFP's expertise and proven success in Germany to further develop our presence in the global institutional marketplace," said Patrick O'Brien, head of Evergreen Investments' international distribution. "Utilizing hsFP's strong local presence and vast network, WGAM will seek to deliver best-in-class investment strategies to sub-advisory and institutional clients directly and through consultant relationships."
WGAM offers investment opportunities through various platforms, including London-based Evergreen International Advisors, which oversees approximately $10 billion in assets, primarily global fixed income mandates; Newport Beach, California-based Metropolitan West Capital Management, LLC, which manages $13 billion in assets, predominantly in fundamental equity portfolios; and European Credit Management Limited (ECM), which is based in London and manages more than $30 billion in assets, predominantly in European investment grade and high yield corporate bonds, bank capital, European emerging markets, asset-backed securities, and leveraged loans for institutional clients worldwide. All asset values are as of June 30, 2008.
hsFP serves as an official representative of selected asset management companies in Germany, providing product development, marketing and after-sales services.
"We are exceedingly pleased to partner with one of the biggest American financial institutions to provide world-class products to institutional investors in Germany," said Harald Schüssler, Managing Partner of hsFP. "We look forward to representing Wachovia Global Asset Management in the German market on an exclusive basis, providing seamless client servicing and marketing to local institutional clientele."
About Wachovia Global Asset Management
Wachovia Global Asset Management is the brand name under which Evergreen Investments conducts sales and distribution business outside the United States. Evergreen Investments is the brand name under which Wachovia Corporation (NYSE:WB) conducts its investment management business. Evergreen serves more than four million individual and institutional investors through a broad range of investment products. Evergreen Institutional, a division of Evergreen Investments, had more than $120 billion in assets under management as of June 30, 2008. Led by 300 investment professionals, Evergreen Investments strives to meet client investment objectives through disciplined, team-based asset management. Evergreen Investments manages more than $245 billion in assets (as of June 30, 2008). Please visit EvergreenInvestments.com for more information about Evergreen Investments.
About hs. Financial Products GmbH
hs. Financial Products GmbH, founded in 1999, is an independent client servicing and marketing company regulated by the German Supervisory Authority BaFin. hsFP represents international and local investment managers of different investment themes on an exclusive basis in Germany. hsFP´s extensive knowledge of the local market ensures a smooth linkage between outstanding international asset managers and German institutional investor's needs. This includes the various legal requirements of the investors as well as the different possible investment vehicles, such as mutual funds, Spezialfonds and Master KAG. Please visit hsfp.de for more information about hsFP.
Evergreen International Advisors ("EIA") is the trading name of First International Advisors, LLC which is formed in the State of Delaware with limited liability, registered with the Securities and Exchange Commission in the USA and is authorized and regulated by the Financial Services Authority in the UK.
European Credit Management Limited is registered with the Securities and Exchange Commission in the USA and is authorized and regulated by the Financial Services Authority in the UK.
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