Threadneedle Takes Stake in Attica

June 10, 2002 ( - Threadneedle Asset Management, part of the Zurich Financial Services Group has acquired a 29.9% stake in Attica AM, a multi-manager.

The deal strengthens Attica’s distribution network and enables Threadneedle to enter the manager-of-managers field, an increasingly popular investment approach in the UK and Europe.

Attica received approval for its funds at the close of 2000. It runs an institutional division and an alternative products division.

The group recently signed a deal with Mercer Investment Consulting that offers smaller UK pension funds a combination of consulting and asset-management services.

Its alternatives division recently entered a joint venture with LJH Global Investments to offer hedge funds to institutional investors and high net worth individuals.

To date the manager has invested £100 million and has commitments of almost £250 million, according to a report by IPE-newsline.