Asset Managers – Page 218
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News
Ethos and Profond fail with UBS motions
[16:30 CET 28-02] SWITZERLAND – Swiss bank UBS will increase its capital without the help of ordinary shareholders and there will be no special audit on subprime losses, it was decided at an EGM yesterday, but insiders claim “shareholders sent a message to the board”.
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Performance vs transparency in ETFs
[16:00 CET 28-02] EUROPE – Performance and transparency are battling it out with each other as exchange-traded funds (ETFs) push for more European institutional money, experts debated today.
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APN rebrands in push for cross-border business
[16:20 CET 27-02] NETHERLANDS – Aegon Pension Network (APN), the European group pension arm of Dutch insurer Aegon, will is rebranded as Aegon Global Pensions.
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Ashmore survives market turmoil
[16:15 CET 26-02] UK – Asset manager Ashmore saw its assets under management (AuM) rise 16% to US$36.5bn (€24.5bn) between June 30 and the end of December last year, the company announced today.
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ASIP finds median performance at 1.8%
[12:15 CET 26-02] SWITZERLAND – The Swiss pension fund association ASIP calculated a median performance of 1.8% with emerging markets equity and real estate contributing most positively.
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Market dropout sparks Hungarian consolidation
[15:45 CET 25-02] HUNGARY – Austrian insurance group UNIQA has sold its Hungarian pension asset management to Dutch financial group AEGON because it felt the pressure of consolidation.
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German blue-chip invests in insurer’s cover fund
[15:15 CET 25-02] GERMANY – The Pensionsfonds of Europe’s third largest truck maker, Man AG will has invested €220m of its assets in German insurer Allianz Leben’s cover fund.
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SAM powered by global warming to eco funds
[11:00 CET 25-02] SWITZERLAND – Sustainable Asset Managment (SAM) saw its assets under management double over the last year as interest in eco-related investments increased.
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Allianz launches German 'fiduciary' service
[16:10 CET 20-02] GERMANY – Allianz Global Investors Deutschland and its life insurance cousin, Allianz Lebensversicherungs AG, have founded a joint subsidiary Allianz Treuhand, to serve its corporate pension clients as trustee.
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News
Lewisham allocates £20m to fund of hedge funds
[16:45 CET 19-02] UK – The London Borough of Lewisham Pension Fund is seeking a hedge fund of fund manager and a global equity manager following a restructure of the pension scheme.
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Credit Suisse suspends traders after debt 'mismarking'
[16:15 CET 19-02] SWITZERLAND – Credit Cuisse Group has suspended traders responsible for some of its structured credit facility after the firm discovered positions were overpriced to the tune of $2.85bn (€1.93bn).
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Pension funds cautious about GTAA
[15:45 CET 18-02] GLOBAL – Adding a global tactical asset allocation (GTAA) mandate to a portfolio is still a question of money, belief and regulation, according to pension funds.
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Germans depart from equities and bonds in 2007
[13:30 CET 18-02] GERMANY – The German association of investment and asset management said Germany’s investment management businesses grew by €60bn to €1.7trn in 2007, despite outflows from equity and bond funds.
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NewsQuant strategies helped "intensify" financial crisis
[12:00 CET 15-02] UK/GLOBAL – Quantitative strategies are "partly guilty" of market distortion as "sudden de-levering" helped intensify equity market corrections, Barclays Capital has revealed.
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NewsBelgian minister creates confusion over 'pan-European' pension for Nestlé
[17:00 CET 14-02] BELGIUM/SWITZERLAND – The Belgian finance ministry has created confusion about the status of Nestlé's pension funds after announcing the firm is transferring its pensions assets to a pan-European OFP.
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NewsWheel and tyre scheme selects Mn Services
[14:30 CET 14-02] NETHERLANDS - The €150m pension fund for the wheel and tyre industry has chosen pension provider MN Services as fiduciary manager for its assets.
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Midas and Iimia MitonOptimal in £100m merger
[11:30 CET 13-02] UK – Midas Capital Partners and iimia MitonOptimal have agreed terms for a merger, which would create a multi-asset fund management company with more than £2.9bn (€3.9bn) assets under management.
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Absolute returns needs lower fees - Watson Wyatt
[11:00 CET 13-02] EUROPE – Pension funds and asset owners who want to generate alpha from absolute return investments need to toughen up their "procurement skills" and push asset managers to cut costs, according to consultancy Watson Wyatt.
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Bavaria chooses "Fed" for pension fund
[16:00 CET 12-02] GERMANY – The German Federal Bank “Bundesbank” will manage the assets of the now established pension fund for Bavarian civil servants.
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‘Stop internal rivalry’ – Holland Financial Centre
[12:00 CET 12-02] NETHERLANDS – Holland Financial Centre (HFC) is set to publish a business plan pleading for a departure from "internal competition" in the Dutch pension sector.
