Asset Managers – Page 210
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News
UK regulator fines Credit Suisse over 'rogue traders'
[17:00 CEST 13-08] UK – Credit Suisse has been hit with a £5.6m (€7m) fine from the UK’s Financial Services Authority for failing to keep an eye on activity inside its business which led to the “mis-marking and mis-pricing” of some of its asset-backed securities.
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Swedish financial system faces 'significant challenges'
[16:50 CEST 13-08] SWEDEN - The Finansinpektionen (FI) has warned while the Swedish financial system has "fared well" in the current market environment, there is "no guarantee" the firms it supervises will not suffer difficulties.
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Operational change at €5.9bn German church fund
GERMANY – The €5.9bn German pension fund for church employees in Rhineland and Westphalia has announced it will restructure its investment operations, while pushing for more alternatives and diversity through indirect real estate.
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Ethos warms to 'positive' UBS moves, but S&P is hesitant
[16:15 CEST 13-08] SWITZERLAND – The Swiss Ethosfund has welcomed new appointments to the UBS board but ratings agency S&P is still questioning whether the Swiss-based firm can improve its position in the short-term.
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TIAA-CREF hunts real estate via London office
[16:00 CEST 12-08] US/UK – The New York-based Teachers Insurance and Annuities Association-College Retirement Equities Fund (TIAA-CREF), the second-largest retirement plan in the US with assets of $420bn (€281bn), has launched its first overseas office in London.
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UBS moves for a three-way split
[15:45 CEST 12-08] SWITZERLAND – Crisis-ridden Swiss bank UBS has decided to change its structure from a “one firm” business model to a group with three autonomous business divisions, in the wake of yet more losses at the firm.
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More bad news for Danske Capital
[16:50 CEST 08-08] DENMARK – Danske Bank’s asset management business, Danske Capital, saw its assets under management decline by 11% to DKr572bn (€76.67bn) at the end of the first half of this year.
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Skandia's int'l arm to unveil new Swedish pension
[16:45 CEST 08-08] SWEDEN – Skandia International will unveil a new pension plan for the Swedish pensions market later this month allowing employers to give executives access to a wider range of pensions investments, but which will is not part of the Skandia Liv offering.
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News
Fortis still waiting for Ping An
[16:55 CEST 07-08] NETHERLANDS – Fortis is still waiting for approval from the Chinese regulators to complete its €2.15bn joint venture with Chinese insurer Ping An, the Belgian Dutch financials firm confirmed today.
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Allianz increases inflows with help of bonds
[16:40 CEST 07-08] EUROPE – German financial group Allianz managed to grow its net inflows in the asset management business to €33bn in the first half of 2008.
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Capacity of buyout providers in doubt
[14:15 CEST 06-08] UK – Consultancy firm Aon has warned pension buyout providers are buckling under the weight of current buyout demand and are struggling to cope with requests.
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News
£864m Devonport scheme taps BlueBay
[14:45 CEST 06-08] UK – The £864m (€1.1bn) pension scheme of ship repair company Devonport Royal Dockyard, now part of the Babcock group, has appointed BlueBay to manage a corporate bond mandate.
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News
Passive LDI gives fake security – Pimco
[14:10 CEST 06-08] EUROPE – Structuring liability-driven investing (LDI) as passive mandates can create a false sense of security as some pension funds think they are risk-free, bond fund manager Pimco has warned.
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News
Welsh fund taps Newton for global equities
[16:40 CEST 05-08] UK – Rhondda Cynon Taff County Council has awarded Newton Investment Management a £221m (€278m) active global equity mandate.
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NewsNorthern Rock pension talks reach impasse
[16:10 CEST 05-08] UK – Sir David Chapman, chairman of the trustees of the £350m (€441m) Northern Rock final salary scheme, has announced talks with the company have come to a halt over “fundamental differences” on investment strategy.
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NewsPPF tenders £100m global equity portfolio
[16:35 CEST 04-08] UK – The Pension Protection Fund (PPF) is seeking a new global equities manager to run a portfolio expected to reach £100m (€126m) in the first year of the contract.
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NewsDeficits near 2007 levels as schemes wise up
[16:50 CEST 01-08] UK – Deficits of the 200 largest UK final salary schemes improved by £8bn (€10bn) during July, as pension funds increased and adopted more sophisticated investment activity during the second quarter of this year, suggests research from Aon Consulting.
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Cambridgeshire awards global equity mandate
[16:10 CEST 01-08] UK – The £1.4bn (€1.8bn) pension fund of UK local authority Cambridgeshire county council has tapped RCM to manage a £140m global equity mandate.
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News
£1.2bn Trafalgar House fund replaces Hewitt (amended)
[15:00 CEST 30-07] UK - The £1.2bn (€1.5bn) pension fund of the former UK property conglomerate Trafalgar House has appointed Dutch consultant Cardano as its new investment adviser, replacing Hewitt.
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News
ING takes AZL's fiduciary offering abroad
[12:30 CEST 29-07] NETHERLANDS – ING Investment Management, which has been offering fiduciary management to medium-sized Dutch pension funds since its acquisition of pension fund manager AZL last year, plans to launch a fiduciary proposition abroad.
