NewswireToday - /newswire/ -
Paris, Ile-de-France, France, 2015/03/17 - SCOR Global Investments (SCOR GI), the asset management company of the SCOR group, whose portfolio it manages, announced today that it has exceeded the EUR 1 billion mark in terms of third party managed assets.
As at 28/02/2015, the company manages assets amounting to EUR 13 billion, of which EUR 1.1 billion• is managed for third parties.
Since May 2012, SCOR GI has given institutional investors access to some of the investment strategies developed for the SCOR group. In less than three years the company has attracted a wide variety of European investors alongside the Group, including tier 1 insurance companies, pension funds, retirement funds, private banks and family offices. As a result, net asset inflows totalled more than EUR 700 million in 2014.
SCOR GI concentrates its offering to external institutional investors on fixed-income diversification strategies: high yield bonds, subordinated debt, convertible bonds, syndicated corporate loans, infrastructure debt, real estate debt and insurance-linked securities. As of February 2015, external investors hold more than 50% of funds available for third parties.
François de Varenne, Chief Executive Officer of SCOR GI, comments on this major step: “We are proud to have crossed this significant threshold and I applaud the involvement of all the SCOR GI teams in our development with external investors. The success of our strategy of opening up to third party investors confirms that our risk and capital preservation culture resonates with European institutional investors. After this initial step, we are looking forward to the rest of 2015 with enthusiasm and confidence.”
*including undrawn commitments
About SCOR Global Investments
Established in 2008, SCOR Global Investments (SCOR GI) is the SCOR group’s portfolio management company. Authorized since May 2009 by the French financial market regulatory body, the Autorité des marchés financiers (“AMF”), under n°GP09000 006, since May 2012 the company has opened up some of the diversification strategies developed for the Group to professional investors. With wide-ranging expertise in terms of asset classes and geographical areas covered, SCOR GI (scor-gi.com) is structured around six management desks: Rates, Credit, Infrastructure Debts, Equities & Alternative Multi management, Real Estate and Insurance-linked Securities. As at 31/12/2014, the company manages assets amounting to EUR 12.3 billion and has 50 employees.