Deutsche Asset Management today renamed Scudder Investments as DWS Scudder, part of a change in its strategy in the U.S. mutual fund market. DWS Scudder will focus on distribution of funds through financial advisers in the U.S., although the funds will be available to 401(k) and retirement plan investors, said Axel Schwarzer, managing director, head of Deutsche Asset Management Americas and head of DWS Scudder.
Mr. Schwarzer said he is in the process of reviewing the 150 existing DWS Scudder mutual funds and likely will offer U.S. investors between 11 and 13 asset classes, using investment teams in the U.S. and abroad. The goal, he said, is to provide a mutual fund product range to best serve the U.S. financial adviser channel. Some mergers and closures of DWS Scudder funds are likely, he said, but he declined to give details.