Commerzbank link with Nordea

Commerzbank has agreed to sell Nordea Investment Funds' (NIF) products in Germany, an arrangement which would have been considered inconceivable just two years ago. The German bank has opened its substantial distribution network to the Luxembourg-domiciled fund provider 'to join an exclusive circle of companies in the area of fund co-operation.' German banks, who control the lion's share of the country's fund distribution, began to open their networks to third-party funds after Deutsche Bank made the sensational decision last year to sell Invesco funds. Through this latest agreement,...