Aetna Explores Strategic Partnership for Aeltus Investment Management

Strategic Insights -

Aetna Life & Casualty is exploring a strategic partnership or opportunity for its independently operated investment management subsidiary, Aeltus Investment Management, Inc. This move aligns with Aetna's strategic direction in the asset accumulation business, shifting focus from large corporate and public retirement plans to small to medium-sized tax-exempt retirement programs. Aeltus will continue to serve as an investment advisor and distributor of services to the large retirement plan market.

Key Takeaways:

  • Aetna is exploring a strategic partnership or opportunity for Aeltus Investment Management, Inc., which could include a disposition of Aetna's control position.
  • Aeltus is an independently operated investment management subsidiary of Aetna, managing over $21 billion of assets primarily for large corporate and public retirement plan sponsors and other institutional clients.
  • Aetna's strategic focus will shift from large retirement plans to serving individuals and participants in small to medium-sized tax-exempt retirement programs.
  • The Aeltus investment group offers expertise in managing U.S., international, and Asian equities, fixed income instruments, money market securities, and real estate investments.
  • Aeltus has a staff of 280 people with principal offices in Hartford, Boston, and Hong Kong.
  • Aetna will continue to utilize Aeltus as an investment advisor in the large retirement plan market and act as a distributor of their services.
  • Aeltus's expertise in managing various asset classes will remain an asset to Aetna's overall investment strategy.

Statistics:

  • Aeltus manages over $21 billion of assets.
  • Aeltus has a staff of 280 people.
  • Aeltus has principal offices in Hartford, Boston, and Hong Kong.

Sources:

  • Aetna Life & Casualty PRNewswire announcement, April 28 /PRNewswire/.

(CO: Aetna Life & Casualty), (ST: Connecticut), (IN: INS SU: BM-DP), (AET).