Evergreen Investments has a number of aggressive plans for growth, Chief Executive officer and President Dennis Ferro tells Reuters in an interview.
The company plans to enter the Asian market within two years, double net inflows to $20 billion this year, expand its alternative investments business and launch a new fixed income trading platform this year and a new equities platform in 2008.
Areas that Evergreen will target in Asia include China, India, Singapore and Australia. However, the company does not plan to offer mutual funds in those countries but to pursue the institutional and sub-advisory markets.
Evergreen has recently been beefing up its overseas plans, having bought European Credit Management of London, which has $26 billion in fixed income assets, last month for an undisclosed price. Evergreen has also indicated it will make additional acquisitions of small- to mid-size asset mangers, although Ferro said that the company isn’t currently considering any purchases.