By David Braid | 13:06:10 | 01 September 2008
Citywire’s European research team summarise the funds stories making the headlines in Europe.
According to a study by International Financial Services, London is still the world’s second financial capital after New York, despite its more flexible regulations and tax advantages, Cinco Días reports. New York runs 40% of the total global assets in funds while London controls only 20%, according to the report.
Dutch asset manager Aegon has acquired a 50% stake in Caixa Terrassa Vida, the life insurance arm of saving bank Caixa Terrassa, for €190 million, El Economista reports. In exchange, Caixa Terrassa will distribute Aegon’s products throughout its network of 300 branches.
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