Deals & People December 2, 2010

Munder Acquires Integrity Asset Management

Munder Capital Management, a money management firm serving institutional and individual investors, is acquiring Integrity Asset Management, a Louisville, Kentucky-based institutional investment management company.
Reported by

Under the agreement, Integrity will become a wholly owned subsidiary of Munder Capital Management. Integrity’s investment strategies and management teams will remain in place, and it will retain its current name, location, and brand, a news release said.

Integrity, with more than $3 billion in assets under management, provides investment management services to corporate, public, endowment, foundation, Taft-Hartley, and sub-advisory clients. The firm was named as one of “The Best Managers You Have Never Heard Of” by PLANSPONSOR magazine (see Cover: The Best Managers You Never Heard Of).

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This partnership enables both firms to leverage each firm’s strengths. “Our union with Integrity allows us to partner with an outstanding asset management firm that shares our commitment to investment excellence,” said Jim FitzGerald, President and Chief Operating Officer at Munder Capital, in the news release. “Integrity has a stellar investment team, proven investment processes and a consistent long-term track record.”

The transaction is expected to close by December 31, 2010, subject to customary closing conditions, including receipt of client approvals.

Products December 2, 2010

DWS Launches World Dividend Fund

DWS Investments, the U.S. retail unit of Deutsche Bank’s Asset Management division, has announced a change in name and strategy for the DWS Europe Equity Fund.
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With shareholder and Board of Directors approval, the fund has been renamed the DWS World Dividend Fund (SERAX).   

A press release said the fund will reflect two significant changes to its investment strategy: a change in objective from growth with a focus on European common stocks, to a total return strategy with a focus on global high-dividend stocks; and a change of benchmark from the MSCI Europe Index to the MSCI World High Dividend Yield Index. The fund will be managed by Thomas Schuessler, Oliver Pfeil, Peter Steffen, and Fabian Degen, DWS’ Frankfurt -based value equities team.   

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According to the announcement, under the new investment strategy, the DWS World Dividend Fund will focus on total return emphasizing both current income and capital appreciation. The fund will invest at least 80% of net assets in companies across the globe with high dividends payouts and the opportunity for further dividend growth. The underlying goal is to help investors maintain a certain cash flow, while attempting to remove duration bond risk from their portfolios and improve long-term growth potential.

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