Asset Managers – Page 210
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News
Lehman’s asset management sold to private equity
[13:00 CEST 30-09] GLOBAL – The bulk of Lehman Brothers’ asset management business, including the private equity division Neuburger Berman, is being moved into a new independent company carrying the Neuburger name, in a deal won by two private equity firms and its senior management.
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News
Strathclyde and E.On next to suspend stock lending
[16:55 CEST 29-09] UK – The £9bn Strathclyde pension fund, one of the largest local authority pension funds, and the £5bn E.On scheme have suspended stock lending on all shares.
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NewsPension funds keep watch over Fortis
[16:55 CEST 29-09] EUROPE – European pension funds will be keeping a watching brief over Fortis Investments in the coming months after today’s developments at its parent company, as a significant number of the firms either have mandates with the asset management arm or have recently held stocks in the ...
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Investment arm untouched by Fortis rescue
[14:15 CEST 29-09] EUROPE – Fortis Investments is 'unharmed' by the €11.2bn rescue action from the Benelux governments today, though the Belgian-Dutch bankassurer is still waiting for a €2.15bn cash injection from Chinese insurer Ping An.
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News
Dutch institutions shun indirect real estate
[17:15 CEST 26-09] NETHERLANDS – Dutch institutional investments in indirect real estate declined by 17% last year in favour of a growth in direct real estate portfolios, a new report claims.
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NewsGet buyout quotes asap – Vassiliades
[17:00 CEST 26-09] UK – Danny Vassiliades, head of corporate advice at Punter Southall, has warned pension funds who are considering a buyout to de-risk their scheme should get a quote as soon as possible.
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Credit crunch pushes liability hedging, despite Lehman
[17:05 CEST 25-09] UK – UK pension funds are increasingly looking into liability hedging structures, despite the collapse of several banks acting as counterparty, according to Mark Davies, investment director at P-Solve.
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News
Dutch fund seeks fund of hedge funds
[17:00 CEST 25-09] NETHERLANDS – A Dutch pension fund is looking for manager to manage a €10m global fund of hedge funds mandate, using IPE-Quest.
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News
Pension funds limit derivatives default risk
[16:45 CEST 24-09] UK – Pension funds could have suffered huge losses on their derivatives positions last week had they not demanded such tough terms on collateralisation and mark-to-market valuations, according to investment consultant Watson Wyatt.
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News
PGGM ceases stock lending of foreign financials
[15:25 CEST 24-09] NETHERLANDS – Dutch asset manager PGGM has stopped lending securities of all foreign financial institutions, IPE has learnt, following increased Dutch criticism of the practice of stock lending.
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News
Hermes 'not interested' in joint venture
[16:15 CEST 23-09] UK – Fund firm Hermes has stated it is not interested in teaming up with other organisations, after it was revealed joint venture talks with Governance for Owners (GO) have fallen through.
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West Midlands allocates 25% to alternatives
[17:00 CEST 22-09] UK – The £8bn (€10bn) West Midlands Pension Fund has confirmed it is investing appxoximately a quarter of its portfolio in alternative assets.
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News
TI Group agrees second buy-in (Update)
[13:15 CEST 22-09] UK – The £1.3bn (€1.7bn) TI Group Pension Scheme (TIGPS), one of the schemes belonging to the engineering firm Smiths Group, has agreed a second £250m (€312m) partial buy-in deal, this time with Paternoster.
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News
Putnam’s money market fund falls victim
[16:45 CEST 19-09] GLOBAL – Putnam Investments has been forced to close its prime money market institutional fund and return the assets to investors, just as consultants warn money market fund liquidity could be the unintended victims of this week’s market turbulence.
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News
Dutch funds' stances differ on stock lending
[14:00 CEST 19-09] NETHERLANDS – Dutch pension funds today showed mixed views on the practice of lending securities of European and US banks.
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News
Financing to keep AIG afloat for break-up
[17:00 CEST 17-09] GLOBAL – The US Federal Reserve has granted global financing firms and their investors a last-minute rescue package by agreeing to invest up to $85bn (€60bn) in American International Group.
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News
HBOS rescue could marry Insight and SWIP
[16:15 CEST 17-09] EUROPE – Insight Investment and Scottish Widows Investment Partnership (SWIP) could be merged into a £200bn (€250bn) asset management house as Halifax Bank of Scotland (HBOS) is in talks with rival Lloyds TSB following fresh falls in its share price.
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News
Central banks pump money markets as AIG shares spiral (amended)
[17:05 CEST 16-09] GLOBAL – Central banks injected huge sums of money into the capital markets today in a bid to prevent from liquidity from seizing up but turbulence in the markets is still driving the price of equities down and bonds prices up as all eyes are now on ...
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News
BlackRock will stay independent
[16:05 CEST 16-09] GLOBAL – BlackRock, the asset manager half-owned by US investment bank Merrill Lynch, today said it will remain independent even after retail house Bank of America (BoA) has picked up its 50% stake in the operation through its proposed acquisition of Merrill.
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News
Lehman Brothers bankruptcy sparks Monday meltdown
[17:10 CEST 15-09] GLOBAL – Pension funds have moved quickly to assess their financial positions today following the Chapter 11 insolvency investment banking giant Lehman Brothers’ voluntary and Bank of America’s takeover of Merrill Lynch, but many are also being advised the unwinding of financial positions could significantly affect asset ...
