DWS Investments terminated QS Investors as a subadviser running a total of $6 billion on 16 DWS funds — eight target-date funds, six mutual funds and two overlay funds.
DWS decided to manage the assets internally, said Douglas Beck, president and head of product management, Americas, at DWS. “We're comfortable with managing the assets in-house,” Mr. Beck said.
James Norman, president of QS Investors, would not comment on the termination but said the firm had managed $6 billion in assets for the mutual funds. QS still manages institutional assets for Deutsche Asset & Wealth Management, which also includes the DWS mutual funds. Mr. Norman said there are no organizational changes at QS and none is anticipated.
QS Investors was begun in 2010 by the former quantitative equity team at Deutsche Asset Management, one of two teams DeAM executives said earlier that year they would help set up as independent boutiques. The other team launched Global Thematic Partners, also in 2010.
