Another of the fund industry's stately and well-known names is fading from the market place. This week Deutsche Bank Asset Management
said that it is rebranding its mutual fund business to reflect its global strategy.
To be sure, the Scudder Investments
name will not disappear altogether. The asset management unit will carry the name DWS Scudder
starting February 6. The new name combines the companyís US and European mutual fund brands, Scudder Investments and DWS Investments, respectively.
"DWS Scudder now joins with DeAMís other mutual fund businesses across the world as part of a unified mutual fund business operating under the DWS name," explained Kevin Parker
, global head of asset management.
Along with the new name, DWS Scudder also unveiled its new strategy, which calls for a renewed focus on advisor-driven channels in the US. In line with this, DWS Scudder plans to trim the number of funds and share classes in its lineup to concentrate on core funds most relevant to advisors, company officials said.
A spokewoman declined to provide further details on the streamlining plan.
DWS Scudder will embark on a brand awareness campaign, including print and broadcast advertising, direct mail, marketing and public relations campaigns, that revolves around the theme "One Global Force. One Focus. You."
Meanwhile, those with fond memories of Scudder as an independent shop will have to keep their fingers crossed that the Scudder story will not end the way the Kemper Funds story did. After Scudder and Kemper merged in the mid-1990s, the Kemper brand lived on, but only for a while. Scudder dropped the Kemper half of its name after its sale to Deutsche Bank.
The Scudder brand dates as far back as 1919, when asset management firm Scudder, Stevens & Clark was founded.
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