Reinhard Bellet, head of Deutsche's asset management business, said he won't buy any rival businesses to grow its passive fund business despite stating he planned to have $150 billion of assets under management by 2015, Financial Times reports. That would be a 52 percent increase in passive fund assets from its current $98.5 billion.

Bellet said it can expand by improving product offerings and providing access to new areas, especially emerging markets.

He didn't complete rule out the possibility of an M&A, however:

"Mr. Bellet added that the unit 'does not plan to make any acquisitions' in pursuit of asset growth, however, “If there is an interesting offer on the market, Deutsche Bank would definitely take a look."

As MFWire has reported in the past, Deutsche Bank announced a "strategic review" of its management business, excluding the mutual fund arms in Germany, the rest of Europe and Asia. Then Deustche Bank called off plans to sell most of its asset management business to Guggenheim Partners.  

Edited by: Casey Quinlan


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