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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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Strategic management decisions/Simplification corporate structure
26.08.2015
Vienna/Frankfurt, 26.08.2015. The Management Board of C-QUADRAT Investment AG
and C-QUADRAT Kapitalanlage AG have decided to simplify the Group's corporate
structure.
C-QUADRAT Investment AG already voluntarily relinquished its securities licence
on July 3, 2015. It did so since C-QUADRAT Investment AG has not pursued any
activities under the 2007 Austrian Securities Supervision Act
(Wertpapieraufsichtsgesetz, WAG 2007) for some time now.
C-QUADRAT Kapitalanlage AG, a wholly owned subsidiary of C-QUADRAT Investment
AG, also intends to relinquish its licence as an investment fund management
company under the Austrian Investment Fund Act (Investmentfondsgesetz, InvFG).
In future, as an asset manager it will focus on selecting and supervising sub-
delegated, internal and external asset managers. This measure is intended to
reduce the level of complexity associated with the corporate group, to decrease
the level of operational risk and to ensure concentration on its core business
of asset management.
C-QUADRAT Kapitalanlage AG will relinquish its licence under the Austrian
Investment Fund Act while obtaining a new licence under the 2007 Austrian
Securities Supervision Act (Wertpapieraufsichtsgesetz, WAG 2007). This licence
under the 2007 Austrian Securities Supervision Act will serve as the regulatory
basis for its continued activity as an asset manager. No changes will result in
relation to portfolio management for funds launched and administered by C-
QUADRAT Kapitalanlage AG ("C-QUADRAT funds").
In future, the C-QUADRAT funds will continue to be managed by the C-QUADRAT
Group's two Austrian asset managers, ARTS Asset Management GmbH and
C-QUADRAT Asset Management GmbH. Raiffeisen Bank International AG will remain
the custodian bank for C-QUADRAT funds. The funds managed by
C-QUADRAT Asset Management UK in London will not be affected by this
restructuring.
Subject to the approval of the Austrian Financial Market Authority, the
custodian bank and the Supervisory Board, the 18 C-QUADRAT funds launched and
currently administered by C-QUADRAT Kapitalanlage AG with a total volume of
approx. EUR 1.5 billion will be transferred to two external management companies
by early 2016 at the latest which will administer the fund wrappers/C-QUADRAT
funds as service providers. These two external management companies are the
firms Raiffeisen Kapitalanlage-Gesellschaft m.b.H. (Raiffeisen Capital
Management) and Ampega Investment GmbH.
These two measures are intended to clearly reduce the volume of administrative
activities and the associated costs. This will consolidate and strengthen
C-QUADRAT's independence as a successful international asset manager, its
medium- and long-term competitive position and the Group's growth.
Further inquiry note:
Andreas Wimmer
Member of the Board
Schottenfeldgasse 20
A-1070 Vienna
Tel.: +43 1 515 66 316
E-Mail: a.wimmer@investmentfonds.atwww.c-quadrat.com
end of announcement euro adhoc
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issuer: C-QUADRAT Investment AG
Schottenfeldgasse 20
A-1070 Wien
phone: +43 1 515 66-0
FAX: +43 1 515 66-159
mail: c-quadrat@investmentfonds.at
WWW: www.c-quadrat.com
sector: Financial & Business Services
ISIN: AT0000613005
indexes: Standard Market Auction
stockmarkets: official market: Frankfurt, Wien
language: English