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Deutsche Bank Welcomes Proposal to Merge Henderson Money Market Fund into DB Advisors Fund Range

Deutsche Bank’s Asset Management business today welcomed a proposal by Henderson Global Investors to merge the £3.3 billion Henderson Liquid Assets Fund (HLAF) into the money market fund range of DB Advisors. DB Advisors is Deutsche Bank’s global institutional asset management business.

Under the proposal made by Henderson to HLAF shareholders, HLAF will be fully merged with the Deutsche Managed Sterling Fund, part of the Deutsche Global Liquidity Series of money market funds. Both HLAF and the Deutsche Managed Sterling Fund are AAA-rated, GBP-denominated, treasury-style money market funds.

The proposal will be voted on by HLAF shareholders in January 2011. If approved, HLAF will be merged into the Deutsche Managed Sterling Fund in February 2011, subject to final regulatory consent.

DB Advisors already serves as the investment manager of HLAF. Henderson appointed DB Advisors to manage the fund on a sub-advisory basis on October 12, 2010.

Mark Bolton, CEO of DB Advisors UK, said: “We would be delighted to extend our relationship with investors in HLAF and welcome them as direct clients. Investors in HLAF already have access to DB Advisors’ global investment management expertise. The fund merger would bring HLAF onto DB Advisors’ liquidity management platform, giving the fund’s investors all of the other advantages that a large global player like Deutsche Bank can provide. They will be joining a platform with deep resources, a robust credit process and a strong commitment to transparency.”

With over €94 billion in money market assets under management (as at Sept 30, 2010), DB Advisors is a leading provider of cash and short duration investment strategies for investors worldwide. These include U.S. dollar, Euro, and Sterling pooled money market funds, as well as bespoke separately managed accounts.