Universal Investment founds KVG for BVK
31 March 2022
Frankfurt am Main / Munich, March 31, 2022.The Universal Investment Group will set up its own capital management company for its largest customer, the Bayerische Versorgungskammer (BVK). The aim of the future company, called UI BVK KVG, is to manage BVK’s investments with a team of specialists. The fixed assets are prospectively 75 billion euros, via umbrella and target funds, the UI BVK KVG then manages 150 billion euros in assets under investment law. Like other very large capital pools, which also use exclusive KVGs, services specially tailored to the needs of BVK will be accessed via the new company. The new company will support BVK with its twelve legally independent professional and municipal pension schemes in its strategic asset allocation and will develop it further. BVK funds will continue to be managed by external asset managers. The essay and the staffing of the UI BVK KVG is still subject to approval by the financial supervisory authority BaFin.
Michael Reinhard, CEO of Universal Investment, explains: “With UI BVK KVG, we are raising our long-standing partnership with the Bavarian Supply Chamber to a new level. We are pleased that BVK continues to place their trust in us and builds on our highly specialized know-how.” Daniel Just, CEO of the Bavarian Supply Chamber, adds: “In the future, the assets entrusted to us will continue to be managed in a specialized unit of our proven partner Universal Investment. Our plan is to keep growing together.”
The Bavarian supply chamber is one of the largest institutional investors in Europe. The partnership with Universal Investment as one of the leading European fund service platforms and Super ManCos has existed for almost 20 years. The cooperation distinguishes joint innovations in the field of institutional capital investment, such as the master fund 2.0 or alternative investments in the master KVG concept with the separation of administration and asset management, which is provided by external asset managers. This history is being continued with our own company UI BVK KVG.
Volume growth of 50 percent is planned for the next few years, also through shifts from the direct portfolio to funds for alternative investments. The UI BVK KVG then bundles and supplements the services for the BVK that go beyond the classic master KVG business. First, the German special securities funds will be transferred to the new company. Most of the systems are to be transferred in the next few years. The company will be managed by Universal Investment Managing Director Stefan Rockel and Mathias Wilhelm, Executive Director and member of the Management Board. The supervisory board of UI BVK KVG will be composed of BVK board member André Heimrich from Universal Investment, Katja Müller as Chief Customer Officer and Michael Reinhard, Chief Executive Officer.
Source: Bayerische Versorgungskammer
