Janus Capital International is to open an office in Munich next year that will concentrate on the IFA market. Last November Andreas Morsch joined from Fidelity to head up a team of five focusing specifically on Germany. Janus has signed up 60 distributors and attracted over $200m in the past four months and it is now running an extensive advertising campaign aimed at promoting its brand name. The team, based in London, is looking to recruit two more and will move to Munich towards the end of next year.
l Standard Life and German insurer Hannoversche Leben have set up Hannover Standard Life, a new company selling pensions in Germany. The joint venture will offer what it calls Aktien Rente, a cross between a typical German pension with its guarantee of a monthly income and a UK-style, equity-backed investment portfolio. Key features include a flexible retirement age and payment terms and a refund of premiums on death before retirement. The new company will be headquartered in Edinburgh but will run operations from an office in Hanover.