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Multimanagement : BNP Paribas Asset Management launches Opera Selection

BNP Paribas Asset Management has launched Selection Europe, the first sub-fund of multimanagement mutual fund Opéra Sélection. This fund, created for clients of BNP Paribas Private Bank, invests in European equities.

Opéra Sélection offers simplified access to products by other managers, which have been selected and packaged by BNP Paribas Asset Management in an innovative way designed to maximize performance and minimize risk.

BNP Paribas Asset Management has chosen three fund managers for the specificity and complementarity of their management style.

Robeco Asset Management was chosen for its management of blue chip stocks, which combines fundamental and quantitative analysis. Merrill Lynch Asset Management was chosen for its ability to pick small- and mid-caps in specific niche markets with minimum risk. BT Funds Management is a dynamic fund manager that makes large bets, often back-to-back. These three fund managers have had excellent track records in recent years.

Each of these managers has been retained to manage one-third of the fund's assets. Overall portfolio coordination is provided by the BNP Paribas Asset Management multimanagement team, which monitors investment policy on a continuous basis.

Today, there are about ten analyst/fund managers covering all types of products (funds of funds, multimanagement funds, advisory mandates) for all client categories (individual, institutional, and distributors) in France and abroad.

On the basis of the experience it has gained over the past three years, BNP Paribas Asset Management aims to become a key player in multimanagement.

The organization has already been set up. It is based on the creation of product lines for each marketing network and on the development of a service offering (Web site and centralized purchasing) for distributors. Thirty staff members will be assigned to cover this integrated product and service offering.