La banque d'un monde qui change 2004 - BNP Paribas

ASSETMANAGEMENTIn 2004, BNP Paribas Asset Management furtherpursued its development in those businesseswhere its size, know-how, experience anddiversified revenue base give it a clear competitiveadvantage.BNP Paribas Asset Management stepped upits strategic push in specialised management.The company acquired 50% of Fauchier Partners,a multi-manager alternative fund specialist;it also announced the upcoming launch of trackerfunds and the transfer to Cortal Consors FundManagement of BNP Paribas multimanagementteams. The company has kept up its refocusingon the core business, by outsourcingits Accounting Management functionto BNP Paribas Asset Servicing.BNP Paribas Asset Management scored a numberof significant commercial successes worldwide,gaining several discretionary asset managementmandates for institutional clients. The network ofexternal distributors also generated considerablegrowth, particularly with the Luxembourg-basedParvest umbrella fund, to which EUR 2 billion innew money were added in 2004, raising its totalassets under management to over EUR 15 billion.Cortal Consors Fund Management,a European leader in open-ended fundsWith over EUR 13 billion in assets undermanagement at 31 December 2004,Cortal Consors Fund Management (CFM)established its position from the outsetas a European leader in open-ended funds. Itsmission includes analysing and selecting fundsfrom outside the BNP Paribas Group as wellas overseeing discretionary fund management.CFM was born in June 2004 out of the link-upbetween BNP Paribas Asset Managementand Cortal Consors multimanagement teams.Fauchier Partners, a leading Europeanmanager of funds of Hedge FundsBNP Paribas Asset Managementand Fauchier Partners merged their jointventure, giving birth to a European leaderin the management of funds of Hedge Funds,with over EUR 2.6 billion in assets undermanagement at 31 December 2004. Based inLondon, Fauchier Partners is a specialist firmdedicated to the construction and managementof customised portfolios of Hedge Funds.