Asset Managers – Page 178
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NewsUniversity hospital workers to drop Dutch giant ABP for PFZW
Approximately 65,000 workers in university hospitals to switch from €237bn civil service scheme ABP to €99.5bn healthcare pension fund PFZW for "practical reasons".
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NewsATP to bring low-cost pension scheme to UK market
Danish provider could launch business by year-end and may handle asset management internally.
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NewsSovereign wealth funds shift from active to passive in wake of crisis, says State Street
Sovereign wealth funds modify investment strategy, opting for passive by default, says the asset manager.
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NewsEmerging markets, growth and income next for PIMCO equities
US fixed income giant to hire team for global growth and global income equities.
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NewsAPG, PGGM to sell AlpInvest to management, Carlyle Group
Dutch asset managers APG and PGGM will sell their joint €32bn private equity vehicle AlpInvest to a joint venture between its management and the €98bn alternatives asset manager Carlyle Group.
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Hedge funds outperform S&P 500 over three years
EUROPE – The majority of hedge funds delivered better returns than the S&P 500 index over a three-year period, according to latest figures by EDHEC Business School.
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NewsNordic funds top chart in Swedish premium pension system for 2010
SWEDEN – Nordic fund managers took all five top spots in the performance chart of best performing funds within the premium pension system in Sweden, with assets of SEK408bn (€45bn).
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German roundup: Master KAGs, Telos, BVI, second pillar
GERMANY – The business for Master KAGs in Germany is growing, but the market is already saturated, according to research and rating company Telos.
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News'Misled' investors file class action against Fortis
GLOBAL – A new foundation, Investor Claims against Fortis, has started legal proceedings in the Netherlands against the former bancassurer Fortis for "misleading investors", which it claims led to combined losses of €2bn.
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AGI warns on German Bunds
EUROPE – Allianz Global Investors (AGI) has cautioned against exposure to German Bunds, arguing that the European Union’s bailout package means the country will further lose its status as a investment safe haven.
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NewsUK DB funds will post 13% returns for 2010, says State Street
UK – Defined benefit schemes returned around 13% in 2010, with the equity market largely contributing to this recovery, according to State Street.
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Mn Services wins £450m fiduciary management mandate in UK
UK – The €69bn asset manager Mn Services has been awarded a fiduciary management mandate in the UK, worth £450m (€523m).
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Two-thirds of ETF assets held in top 100 vehicles, says BlackRock as US breaks $1trn
GLOBAL – Almost two-thirds of all assets in exchange-traded funds (ETFs) are held in the 100 biggest vehicles, new data by BlackRock has revealed.
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NewsNEST to tender SRI mandate, confirms ethical investment option
UK – The National Employment Savings Trust (NEST) is tendering for a global equity socially-responsible investment (SRI) manager after confirming members will be offered an SRI fund as one of several investment options.
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NewsUK PPF appoints LaSalle, CB Richard Ellis to global real estate mandates
UK – The UK Pension Protection Fund (PPF) has appointed La Salle Investment Management and CBRE Investors to develop its global real estate strategy.
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NewsPGGM appointed by Dutch culture fund, buys former provider
NETHERLANDS – The €400m pension fund for workers in the arts and culture sector, Pensioenfonds Cultuur, has appointed PGGM as its pension provider.
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NewsGartmore in speculation on Henderson bid
UK – The share price of investment manager Gartmore this morning slumped 9.3% from its Friday close following speculation that Henderson Global Investors would bid 95p per share to acquire the beleaguered manager before the end of the year.
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NewsF&C chairman criticises Sherborne attempt to oust him
UK – F&C Investments is facing a shareholder revolt to oust its chairman and one of its non-executive directors, according to reports.
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Pimco allows equity investments in shake up of Total Return bond fund
GLOBAL – Pimco’s US$ 250bn (€160bn) Total Return fund, the world’s largest bond fund, has expanded its investment remit to include up to 10% of its total assets in preferred stock, convertible securities and other equity-related securities.
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NewsMn Services to sue RBS in UK over sub-prime losses
EUROPE – The €69bn Dutch asset manager and pensions provider Mn Services says it will file a lawsuit against the Royal Bank of Scotland (RBS) for damages in wake of the sub-prime montage crash.
