News: BT to expand product range and tap into Wes

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BT Investment Management Ltd (ASX:BTT) has announced it is renewing its strategy for boosting inflows by diversifying its product range and creating a new generation of boutique managers.

BT's CEO Emilio Gonzalez told shareholders that the company is focusing on improving retail exposure by increasing its sales through independent financial advisers.

The fund manager, in which Westpac Banking Corporation (ASX:WBC) is a major investor, is also looking to significantly tap into Westpac's retail and private banking distribution networks, including St George Bank.

For the year ended 30 September 2010, BT Investment Management generated a net profit of $21.83 million.