SWEDEN/UK – Stockholm based financial services group Skandinaviska Enskilda Banken (SEB) has appointed London based asset manager Schroders to advise it on the management of its SEK12bn (e1.3bn) Asian and emerging market equity assets.

“ Schroders is an active asset manager precisely like SEB Invest and has a similar investment philosophy and investment process. The collaboration agreement with Schroders gives us strong management expertise in Asia, Japan and emerging markets,” says Lars Rodert, international equities manager at SEB Invest.

Schroders will sub-advise 22 funds that cover Japanese, other Asian, and emerging markets within SEB’s mutual funds and some institutional Japanese stock investment assignments. The move follows the outsourcing of parts of the Swedish bank’s investment management activities, and will become effective on August 31.

“ This also accounts for the technology and pharmaceutical industries as well as alternative investments, such as private equities and hedge,” says Rikard Kjärling, investment management manager at SEB Invest.

Gavin Ralston, head of institutional business in continental Europe at Schroders says: “We are delighted with this appointment, which highlights the recognition in the marketplace of Schroders’ experience and track record in investing in Asia and global emerging markets. It further enhances our position as a specialist investment management house.”

SEB’s assets under management amount to SEK910bn.

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