Asset Managers – Page 187
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Short-selling ban ‘red herring’ for wider euro-zone problems – ATP
EUROPE – Following widespread criticism from fund managers of Germany’s short selling ban, Danish pensions giant ATP has questioned whether it was really to blame for the subsequent currency and stock market falls.
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Deutsche Post employs niche active managers for Pensionfonds
GERMANY – Deutsche Post’s recently established Pensionsfonds has employed active managers for its small-cap equities and commodities investments, but has so far shied away from alternative investments, according to group pensions director Benedikt Köster.
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EU ministers back AIFM after ECON revises rules (amended)
EUROPE – European Union finance ministers have backed proposals to regulate hedge funds and private equity funds just hours after the European Parliament's Economic and Monetary Affairs Committee (ECON) adopted a revised position on the Alternative Investment Fund Managers (AIFM) Directive on Monday.
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NewsMan Group enters long-only market with GLG acquisition
UK – Hedge fund manager Man Group has acquired GLG Partners in a transaction valued at $1.6bn (€1.3bn) that will give Man Group its first access to the long-only market.
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UWV scheme eyes Allianz GI as co-ordinating manager
NETHERLANDS - The €3.8bn pension fund of the Dutch employment and benefits agency UWV says it intends to conclude a risk and asset management contract with Allianz Global Investors (AGI). The deal falls short of a full fiduciary mandate.
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NewsEU Parliament postpones AIFM vote
EUROPE – The Economic and Monetary Affairs Committee (ECON) has agreed to postpone a vote on the Alternative Investment Fund Managers (AIFM) Directive for one week to allow time to consider legal opinions.
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GE Pension Trust’s active commodities strategy unlocked
GLOBAL - An actively managed commodities strategy run for the General Electric Pension Trust in the US has been made available to other institutional investors.
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Dutch funds too dependent on individual players – Avida
NETHERLANDS - Pension funds are often too dependent on one dominant adviser or asset manager, whose interests are rarely aligned, according to Avida International.
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JURI votes unanimously in favour of AIFM amendments
EUROPE – The European Parliament’s Legal Affairs Committee, otherwise known as JURI, has voted unanimously in favour of proposed amendments to the EU’s controversial Alternative Investment Fund Managers (AIFM) Directive.
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PGGM to increase direct engagement projects
NETHERLANDS – PGGM, the €90.8bn pension asset manager for the care and welfare sector, intends to increase its direct engagement with companies despite initiating more than 80 direct engagement projects on environmental, social and governance (ESG) factors in 2009.
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Barclays targets EU investors with volatility ETNs
EUROPE – Pension funds and other institutional investors are being targeted by Barclays Bank, with the European launch of 12 exchange traded notes (ETNs) including three based on volatility, of which one specifically uses a European index that could be useful in relation to Solvency II.
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BlackRock figures highlight move to passive strategies
GLOBAL – BlackRock has reported net outflows by institutional investors of $39.6bn (€29.9bn) and inflows of $8.9bn, as the global equity rally and tightening credit spreads have caused investors to reconsider investment strategies and shift from active to passive investments.
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UK roundup: F&C, JP Morgan custody, GKN, DB closures
UK – F&C Asset Management has announced plans to acquire specialist investment firm Thames River Capital, while JP Morgan Worldwide Securities Services has been awarded two custody mandates.
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JURI to vote on AIFM amendments
EUROPE - Further changes to the EU’s Alternative Investment Fund Managers (AIFM) Directive are today being aired in Brussels by the Legal Affairs Committee in the European Parliament.
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Manager search activity surged in 2009
EUROPE – Institutional investors in Europe regained their confidence in 2009, as global investment manager search activity increased by almost a quarter over 2008 levels, according to Mercer.
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NewsSSgA streamlining offloads Swiss bond business
SWITZERLAND – State Street Global Advisors (SSgA) has signed an agreement transferring its Swiss institutional fixed income business to banking group SYZ & Co as part of its review of its European business operations.
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NewsRobeco to refocus its energies on pensions
NETHERLANDS - Pure play asset manager Robeco plans to increase its focus on the pensions industry from approximately 50% of current institutional investor business to 60% within the next five years, but will scale back its attention on UK and Italian business.
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Crastes is among senior staff to leave Amundi London
FRANCE/UK – Bruno Crastes, the CEO of Amundi UK, and two other key London managers have resigned their posts at the asset manager created through the merger of Credit Agricole Asset Management and Société Générale.
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SPMS considers APG and BlackRock as new providers
NETHERLANDS - The €5bn pension fund for Dutch medical consultants, SPMS, is planning to swap its present pension provider and asset manager Doctors Pension Funds Services (DPFS) for two larger players.
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LD Invest is upbeat despite €5.2bn LD Pension tender
DENMARK - Henrik Parkhøi, managing director at the DKK67bn (€9bn) Copenhagen-based asset manager LD Invest, remains bullish about his firm’s prospects even though more than 55% of its assets under management are under threat following a call for tenders by LD Pension, its biggest client and majority shareholder.
