Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Kaldemorgen to step down from multi-billion DWS funds

Kaldemorgen to step down from multi-billion DWS funds

Klaus Kaldemorgen, one of the most influential figures in Germany's asset management industry, is to step down from his multi-billion euro equity funds.

The veteran manager will pass on the management of the €2.9 billion DWS Akkumula fund and the €5 billion DWS Vermoegensbildungsfonds fund to former Union Investment star manager, André Köttner.

Investors in the funds told Citywire Global they believed Kaldemorgen would remain at DWS regardless of the changes in the fund management that will see Kaldemorgen end a nearly two decade period as the two funds' lead manager.

Confirming that Köttner will take over the two funds from Kaldemorgen, DWS CIO Asoka Wöhrmann said:

‘I’m very pleased that we could sign André Köttner. We looked intensively for the best fund manager to take over the two flagship funds. Andre Köttner was our first choice for this very demanding position.’

Kaldemorgen is to become the firm's chief equity strategist and Köttner is to take over the funds from February 2013. However, Kaldemorgen will continue to run his absolute return fund the DWS Concept Kaldemorgen.

In September, Citywire Global revealed that André Köttner, former manager of the UniGlobal fund, had left Union Investment to join DWS.

The DWS Akkumula fund lost 8% in the past three years to the end of November, just below its benchmark the MSCI World CR USD, which fell 7.8%.

The DWS Vermögensbildungsfonds lost nearly 12% in the same period while the MSCI World NR EUR benchmark rose 3%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Zurich

    Citywire Zurich

  • Citywire Deutschland

    Citywire Deutschland

  • Citywire Singapore

    Citywire Singapore

  • Citywire Maastricht 2013

    Citywire Maastricht 2013

  • Citywire Stockholm

    Citywire Stockholm

  • Citywire Montreux 2013

    Citywire Montreux 2013

  • Citywire Hong Kong

    Citywire Hong Kong

  • Citywire Zurich

    Citywire Zurich

  • Citywire Deutschland

    Citywire Deutschland

  • Citywire Monreux 2013

    Citywire Monreux 2013

  • Citywire Montreux 2013

    Citywire Montreux 2013

  • Citywire Singapore 2013

    Citywire Singapore 2013

  • Citywire Singapore 2013

    Citywire Singapore 2013