Asset Managers – Page 217
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Friends Prov rejects £3.5bn JC Flowers offer
[15:30 CEST 31-03] UK - Friends Provident has confirmed it has rejected an offer from US private equity firm JC Flowers to acquire the firm for 150p a share.
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Vienna Insurance widens doorway to CEE
[16:00 CET 27-03] EUROPE – Vienna Insurance Group (CIG) is aiming to strengthen its CEE life insurance offering, which includes pension products, with the acquisition of Erste Bank's insurance arm.
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BLPK at top end of Swiss performers
[16:30 CET 26-03] SWITZERLAND – The CHF5.2bn (€3.3bn) Basellandschaftliche Pensionskasse generated a 4%return on investments in 2007.
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L&G eyes high-earner pensions in Suffolk Life takeover
[16:35 CET 20-03] UK – Legal & General (L&G) plans to target the UK's "mass affluent" and high-net-worth end of the pensions market, through the £62m (€80m) acquisition of Suffolk Life.
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ERAFP aims to diversify with new consultant
[15:00 CET 20-03] FRANCE – The €4.8bn French public service supplementary pension scheme ERAFP has said it has selected Mercer as its new investment consultant for an extended diversification of its investments.
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Ping An confirms Fortis deal
[16:40 CET 19-03] GLOBAL – The Chinese insurer Ping An is set to buy half of Fortis’ asset management business, which has ballooned since the integration of ABN Amro asset management.
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Schroders buys SwissRe AM
[16:30 CET 19-03] SWITZERLAND – British fund manager Schroders has today announced it will take over the Swiss reinsurer Swiss Re’s asset management unit.
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Subprime hits Luxembourg funds
[11:00 CET 19-03] LUXEMBOURG – Funds registered in Luxembourg have seen a drop in net assets of 5.2% in the year to date, despite the number of funds moving to the country having increased.
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Mn Services to deliver multi-manager for Merchant Navy
[16:55 CET 18-03] NETHERLANDS – PME, the €3.2bn occupational pension fund for the Dutch merchant navy (Bedrijfspensioenfonds voor de Koopvaardij), has appointed fiduciary manager Mn Services to act as a multi-manager and adviser to the fund.
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SNS’ sustainability approach drives growth
[13:00 CET 17-03] NETHERLANDS – The asset management arm of Dutch bank SNS saw its assets under management (AuM) climb 15.2% to €18.9bn in 2007.
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State Street sees German slowdown
[16:10 CET 14-03] GERMANY – US asset management company State Street Global Advisors (SSGA) saw its assets under management in Germany and Austria grow by €800m last year.
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'Tackle weak links' – Ambachtsheer
[15:00 CET 14-03] GLOBAL – Tackling weak links such as herding and poor integration across key functions could help pension funds prevent falling trap to further ‘predictable surprises’, according to pension expert Keith Ambachtsheer.
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Show evidence of active management benefits - Myners
[14:00 CET 11-03] UK – Paul Myners, chairman of the Personal Accounts Delivery Authority, has hit back at criticism of the body’s low-cost accounts regime, and warned officials are unlikely to sway from adopting passive investment strategies.
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NewsAegon splits alpha from beta
[16:15 CET 10-03] NETHERLANDS – The asset management arm of Dutch insurer Aegon has today announced its Dutch business will separate the European and Asian share portfolios into an alpha en a beta part.
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NewsAegon’s UK pension sales drop 8%
[15:30 CET 06-03] NETHERLANDS - Aegon’s pensions sales in the UK dropped by 8% to £227m (€297m) during the fourth quarter, driven by lower sales of both group and individual pensions, the insurer said.
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IPE-QUEST: Global corporate debt mandate
[11:30 CET 06-03] GLOBAL – An investment company in the Middle East is looking for managers for a global corporate debt mandate worth up to $500m, using IPE Quest.
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Schroders sees outflows of £10.6bn
[14:00 CET 05-03] GLOBAL – Schroders has admitted it saw net institutional outflows of £10.6b (€13bn) in 2007, despite winning over 100 new mandates in the UK alone.
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ABP unveils the new face of admin
[11:50 CET 03-03] NETHERLANDS – The €217bn Dutch ABP pension scheme has today presented the name for its newly-established separate administration body, which it launched yesterday.
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EPO seeks admin help for cross-border DC
[16:45 CET 29-02] EUROPE – The European Patent Office (EPO) is seeking an administration provider to help with the establishment of a new cross-border defined contribution scheme.
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News
Lambeth considers ETFs
[13:00 CET 29-02] UK – The £750m (€979m) London Borough of Lambeth pension fund is looking at the option of investing in so called exchange-traded funds (ETFs), IPE has learnt.
