Asset Managers – Page 188
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European institutional assets surpass €5 trillion
European institutional assets were €5.2trn at end-2009, up 8.3% from previous year (€5.2trn) Total AUM of IPE’s Top 400 Managers 2010 is €29.1trn (€23.4trn in 2009) Increase in overall AUM of 24.3% over 2009 BlackRock accounts for 7.9% of assets in study and is largest ...
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Dutch DC providers still fail on cost transparency – AFM
NETHERLANDS – Insurers still do not provide sufficient clarity about the costs they charge on defined contribution (DC) arrangements, causing overly high retirement expectations among members, according to the Netherlands Authority for the Financial Markets (AFM).
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Swedish roundup: Pioneer, fee structures, Max Matthiessen, Länsförsäkringar Liv
SWEDEN – Mats Langensjö, the head of Nordic institutional business at Pioneer Investments, is leaving the company as a result of a change in focus away from the defined contribution (DC) pension sector.
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Syntrus Achmea cuts 'not linked to client losses'
NETHERLANDS – The sector-wide pension fund (BPF) administration unit of Syntrus Achmea is to undergo an efficiency drive as part of its ongoing merger with Rabobank subsidiary Interpolis.
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Aegon fails to make return as Czech funds post 2.28%
CZECH REPUBLIC – The ten pension funds of the Czech Republic maintained fixed income-heavy portfolios in the first quarter of 2010, posting average returns of 2.28% over the three-month period.
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AMIC to push corporate governance with EU paper
EUROPE – The Asset Management and Investors Council (AMIC) is working on a corporate governance paper in conjunction with the European Union.
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Blue Sky to manage Total pension assets
NETHERLANDS – The €250m Dutch pension fund of energy company Total has contracted out its asset management to pensions provider Blue Sky Group.
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UK roundup: UK target date funds, Energizer, De La Rue, Teeside
UK – HSBC has reported its series of target-date retirement funds have locked in gains of more than 30% in their first year, while the Energizer Trust has appointed a provider for a range of pension services to its pension scheme.
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EDEKT Asset Management given fiduciary role for Greek pensions
GREECE - New laws on social security and pensions will give EDEKT Asset Management, which oversees the assets of Hellenic Telecommunications Pension Fund, a new role as the fiduciary of the country's social security funds.
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Fondo Cometa completes investment manager overhaul
ITALY - Fondo Cometa, Italy’s largest pension fund, has appointed nine managers for its €5.2bn portfolio, following a review of its investments.
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NewsLPFA could start wave of investment in UK housing
UK – The £3.5bn (€4bn) London Pension Fund Authority (LPFA) could be the first in a number of UK pension funds investing in the residential real estate sector.
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NewsAlpInvest in talks to buy RBS private equity
EUROPE – AlpInvest Partners, the private equity manager owned by Dutch pension fund investors APG and PGGM Investments, is understood to be in talks to acquire a €400m private equity portfolio from the Royal Bank of Scotland (RBS).
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Provisum cancels underperforming 'black box' strategy
NETHERLANDS – Provisum, the €1bn Dutch pension fund of retailer C&A, has terminated its global tactical asset allocation (GTAA) due to poor performance and lack of transparency.
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Large asset managers outpace smaller rivals
GLOBAL – Large asset managers outperformed their smaller rivals in business terms in 2009 and look set to do so in the future, according to new research.
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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.
