Asset Managers – Page 188
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Fund managers hope to taste Goldilocks scenario
GLOBAL - Signs of a Goldilocks scenario were promised today for Europe by a monthly survey of fund managers, despite a third of respondents stating they remained underweight the eurozone for the second consecutive month.
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USS assigns managed account ahead of new strategy focus
UK – The £29bn (€32.9bn) Universities Superannuation Scheme (USS) has awarded a hedge fund-related $1bn (€740m) advisory managed account (MAC) mandate to Man Group.
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Hermes GPE private equity arm eyes mid-size pensions
UK – Hermes Fund Managers Limited and Gartmore Investment Management Limited have combined their private equity fund of fund businesses into a new company Hermes GPE LLP, which will have strong focus on responsible investing.
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LDI growth strengthens profits for LGIM
UK – Strong new business growth in its LDI business has helped boost profits for Legal & General Investment Management (LGIM), which has just unveiled its 2009 results.
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EFAMA calls for action on long-term savings
EUROPE – The European Fund and Asset Management Association (EFAMA)has set out a blueprint for action on long-term savings and retail product distribution within the EU.
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Three in 10 fund managers see European equities as undervalued
GLOBAL - European equity markets are currently seen as "cheap", according to a new survey polling over 200 investors globally.
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Achmea faces shake-up after losing business
NETHERLANDS - Insurance group Eureko is planning a shake-up at its Dutch asset manager and pensions provider Syntrus Achmea, after it lost significant market share in 2009.
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UBS reports net institutional outflows
SWITZERLAND – Swiss bank UBS saw institutional net outflows of CHF12.7bn (€8.72bn) last year while former managers received bonus payments, partly in form of additional pension fund contributions.
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Austrian severance pay fund finally gains licence
AUSTRIA – After a two year’s wait the tenth severance pay fund fair-finance could announce its licensing today.
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APG staff sacked for running parallel trades
NETHERLANDS - Asset manager APG has sacked two investment employees for breaching the firm’s code of conduct and parallel trading.
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UK pensions allocate $300m to Bermudan catastrophe risk hedge fund
UK - Eleven UK pension funds allocated a total of $340m (€373m) to a $2.6bn catastrophe reinsurance strategy run by Bermuda-based Nephila Capital in the second half of 2009.
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AllianceBernstein considers target date income drawdown
UK – Alliance Bernstein is investigating the development of income drawdown in retirement, which might follow a target date investment approach so investors continue to make gains on their holdings.
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Competition forces Delta Lloyd to withdraw from German pensions market
GERMANY/NETHERLANDS – The German life insurance and Pensionskassen business of Dutch Delta Lloyd will not be taking on any new clients.
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UK roundup: E.on, ITV, Fujitsu, Warwickshire, Bedford, Hertfordshire, Newham
UK – The £5bn (€5.5bn) E.on UK pension scheme has appointed Cardano as its investment adviser, while ITV has reported its pension deficit more than doubled to £436m in the last year.
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Franklin Templeton to manage listed Romanian compensation fund
ROMANIA - Franklin Templeton has been appointed as the investment manager for a €2.4bn property compensation fund, set up by the Romanian government, to compensate people who lost their homes during former Communist rule.
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Pension fund trust in external management 'has returned'
AUSTRIA/GERMANY – Asset managers saw major outflows from institutional investors in 2008, but some pension funds are now expected to increase the share of externally-managed assets in their portfolios.
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Solvency II to spark search for asset management alternatives
FRANCE - Asset managers will have to offer alternatives to equities if they are to guarantee the best possible return for their investors under the likely constraints of Solvency II, the author of a recent survey of French institutional investors claims.
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PGGM appointed to manage culture and arts pension
NETHERLANDS - The €315m pension fund for workers in the arts and culture sector has appointed pensions provider PGGM as its asset manager.
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Performance fees lift Allianz GI's growth
GLOBAL - A fivefold increase in performance fees helped to boost Allianz Global Investors’ revenue growth by 28% in 2009, and raise its total revenue to €3.599bn last year.
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PNO Media to launch its own provider
NETHERLANDS - The €2.9bn pension fund PNO Media is planning to spin off its services into a separate pension provider, so it can offer its members more than pension products.
