All IPE articles in April 2007 (Online) – Page 7
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News
BGI staff twice as profitable as ABN Amro AM
GLOBAL – Barclays Global Investors is twice as profitable per employee as ABN Amro Asset Management, according to company figures.
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IPE-QUEST: High yield and TAA managers
EUROPE – A UK pension fund is looking for an active high yield bond manager for a $20m (€14.7m) global developed markets mandate using IPE-QUEST.
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Schroders names new chief financial officer
UK – Asset management firm Schroders has promoted Stephen Brooks to replace Jonathan Asquith as chief financial officer.
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IBM names UK pension trustee board director
UK – Jonathan Ferrar is taking over from David Heath as director of the pension trustee board at computer colossus IBM’s £4.4bn (€6.5bn) UK pension fund.
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Dutch levensloop attracts just 5% of workers
NETHERLANDS - Just 5.5% of workers have joined the new tax-friendly ‘levensloop’, or life-course, scheme in 2006, according to Statistics Netherlands.
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PGGM has majority stake in volatility hedge fund
NETHERLANDS – The €83bn Dutch pension fund PGGM, one of Europe’s largest schemes, has an almost 63% stake in the Maple Leaf Macro Volatility Fund.
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UK: GAD’s Young reviews pension compensation
UK – The government has named Andrew Young, directing actuary at the Government Actuary's Department, as head of the review of compensation for people in bankrupt pension schemes.
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Swedbank grows AUM by €18.5bn
SWEDEN – Swedbank and Folksam have agreed to join their asset management business under the Swedbank trademark which will see SEK170bn (€18.5bn) in pension assets flow to Sweden's largest bank.
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Staffordshire seeks independent advisor
UK – The £2bn (€3bn) Staffordshire County Council is seeking an independent investment advisor to strengthen performance monitoring of managers.
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Sal. Oppenheim buys French asset boutique
EUROPE – German private bank Sal. Oppenheim has fully acquired Financière Atlas, a French asset management boutique, in a move which it says will give it a bigger share of France’s institutional market.
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Eumedion condemns empty votes (amended)
NETHERLANDS – Institutional shareholders are too passive, making little use of their shareholder rights and are in danger of developing a herd mentality, says Eumedion, the Dutch institutional corporate governance platform.
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Paints giant to inject €500m into UK scheme
NETHERLANDS – Dutch paints giant, Akzo Nobel will pay up to €500m into its UK subsidiary’s €1.9bn pension fund in the second or third quarter of this year, the company announced today.
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CAAM receives early interest in volatility
EUROPE – A large Dutch pension fund has registered interest in Crédit Agricole Asset Management's (CAAM) exploitation of volatility as a hedge against equity market corrections.
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Union Investment agrees Chinese joint venture
GLOBAL – German asset manager Union Investment has teamed up with Hong Kong-based Bank of East Asia (BEA) to launch a new fund venture for the Chinese market. Financial terms were not disclosed.
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North Yorkshire chooses Mercer
UK – The £1.2bn (€1.8bn) North Yorkshire County Council pension fund has chosen Mercer as investment consultant.
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Swiss unions plan referendum on annuity cuts
SWITZERLAND – Unions in Switzerland have vowed to organise a national referendum on planned reductions in pension if the Swiss parliament approves those cuts.
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AZL nets Grolsch, Gamma and Sappi
NETHERLANDS – Commercial pensions manager, AZL has netted three new clients with over 9,500 participants in total, it announced.
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New fund of hedge fund launches with $500m
EUROPE – New fund of hedge fund management group SilverStreet Capital has launched with a mandate of over $500m.
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Scheme executives lack confidence in DC - SEI
UK – Over one-third of company executives are not sure the DC plans they operate will provide an adequate retirement to members, according to research from SEI.
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Wednesday people roundup
GLOBAL – Hewitt, Credit Suisse, Ethos, Aon, Pearl, Invesco, GO, F&C, Colliers, Threadneedle, First State.
