2003 Media Releases

Deutsche Asset Management today announced the appointment of Kate O’Brien as a business development manager for its growing retail distribution team.

Ms O’Brien is responsible for building and maintaining long-term relationships with a number of financial planning groups, advisers, brokers and accountants.

She joins Deutsche Asset Management after six years at BT Financial Group, where she held a number of positions, including team manager of client relations for superannuation services and more recently relationship manager of its corporate superannuation business, including BT’s Corporate Super Master Trust.

Ms O’Brien will report through to Alan Miller, national sales manager – retail business.

Mr Miller said: “Kate’s appointment is the result of continued strong growth in our Australian retail operations.”

Net inflows into Deutsche Asset Management’s retail business over 2001-02 grew over 300 per cent, significantly higher than the industry average, which was 31 per cent. Retail funds under management grew by 36 per cent over the same period, compared to industry growth of 0.02 per cent. Representation on master trusts also continues to grow, with Deutsche Asset Management represented on the Top 10 Australian master trusts.

Deutsche Asset Management is one of the largest fund managers in the Asia Pacific region. In Australia, it manages over A$27 billion on behalf of Australian domiciled clients.

Mr Miller said: “We are one of the few fund managers in Australia that combines an established local presence with the resources of a global network and the discipline of a global investment process. We are the only global fund manager operating in Australia with a comprehensive traditional investment offering, as well as substantial alternative asset businesses (hedge funds, private equity, and real estate),” he said.

For further information please contact:

Ainsley Gee or Kristin Silva
Corporate Communications
Deutsche Asset Management
Ph: + 02 9249 9904, 9249 9568

About Deutsche Asset Management

Deutsche Asset Management is one of the world’s largest fund managers providing asset management capabilities to a variety of clients worldwide, including foundations, non-profit organisations, public and private superannuation funds, high-net-worth individuals and retail investors. Our global client base, totalling over A$1 trillion in funds under management (as at 30 June 2003) ranges from relatively small investors in our unit and investment trusts, to large segregated portfolios.