Renaissance Asset Managers acquires two European funds

Renaissance Asset Managers (RAM) has acquired the investment management mandate for two further Emerging European funds within Griffin Umbrella Fund with assets totaling $116m.

The development follows the acquisition of the Griffin Eastern European Fund with assets of $252m, revealed in December 2011.

Following this final transaction, total RAM assets under management will rise from $2.4bn to $2.8bn.

RAM takes on the management of the Griffin Ottoman Fund, a UCITS IV equities strategy with a focus on Turkey and broad Eastern European and MENA equity exposure, managed by Aziz Unan.

Unan now joins RAM's Emerging Europe team in London and will continue to manage the $42m fund which will be renamed the Renaissance Ottoman Fund.

RAM also takes on the Griffin Eastern European Value Fund which will be renamed Renaissance Eastern European Allocation Fund.

This fund is a total return strategy investing in equities and fixed income across the region and Robert Holmes has been running the $74m fund since 2008 and will continue to do so at RAM.

RAM will commence distribution of these funds with its dedicated distribution team covering the UK, France, the Nordic region, Latin America, Spain, the Middle East and Russia, as well as building on the existing client base in Germany, Austria and Switzerland.