Asset Managers – Page 218
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Right issue too costly, says UBS
[16:45 CET 22-01] SWITZERLAND – Swiss bank UBS has angered smaller shareholders by planning an exclusive capital increase with the help of two Asian institutional investors.
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Watson Wyatt 'nervous' over 130/30 funds
[14:00 CET 22-01] UK - Watson Wyatt has cautioned pension funds against quantitative managers following the "strong tailwind" the sector has experienced over the past five years.
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IPE Quest: Scandinavian fund seeks alpha
[13:00 CET 22-01] EUROPE – A Scandinavian pension fund has put out a search for a global alpha asset manager, investing in a €100m concentrated core global portfolio.
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Old Lady extends Northern Rock finance to March
[16:55 CET 21-01] UK – HM Treasury and the Bank of England is to extend the lending facilities to Northern Rock until 17 March under proposals for a new financing structure.
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SNS plans Swiss Life Belgium sale
[16:00 CET 21-01] NETHERLANDS - Even before the acquisition of Swiss Life Belgium has been completed, new owner SNS Reaal has agreed to sell the company to Delta Lloyd Group.
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PGGM disinvests on PetroChina because of human rights
[15:50 CET 18-01] NETHERLANDS - The €88bn health care pension fund PGGM is withdrawing its €37m investments in oil company PetroChina, because of the firm’s human rights violations in Sudan.
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Nestlé's German fund mulls return from Dublin (Update)
[13:10 CET 18-01] GERMANY/IRELAND – Peter Hadasch, member of the board of the Nestlé's €1.2bn German Pensionskasse is considering swapping Dublin for Germany as the domicile for his fund's assets.(updated with new quotes from Hadasch)
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Norway to review PFG's ethical guidelines
[16:45 CET 16-01] NORWAY – The Norwegian Government is re-evaluating the ethical guidelines currently in place for the Norwegian Pension Fund Global to ensure "they function as intended".
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Merrill Lynch aid spotlights sovereign funds
[16:00 CET 16-01] GLOBAL – Investment giant Merrill Lynch is the latest firm to have turned to sovereign wealth funds (SWFs) for financial support and has signed a deal with seven financial institutions in total to sell convertible preference shares worth $6.6bn (€5bn).
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Luxembourg turns heads
[14:30 CET 16-01] EUROPE – Luxembourg, which in 2007 was the number one fund domicile in Europe, will continue to attract the most investments also in 2008, says Walter Koop of KPMG.
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Paternoster starts year with four new buyouts
[16:40 CET 15-01] UK – UK pension buyout firm Paternoster added another four pension schemes to its business in the first weeks of the year, bringing its total number of schemes to 33, IPE has learnt.
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Allianz bundles German pension divisions
[16:50 CET 15-01] GERMANY – Allianz Global Investors Kapitalanlagegesellschaft, the German investment arm of insurance giant Allianz, today said it has combined its pension advisory and product design operations in a new business.
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Robeco finds multimanager in PME’s Van Gent
[15:45 CET 14-01] EUROPE – Dutch financial group Robeco has ventured into multi-management with the launch of Switzerland-based Corestone Investment Managers, set up by former Altis man Martin Mlynár.
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Pioneer Austria loses €600m in institutional assets
[15:45 CET 11-01] AUSTRIA – Over the last year 2007 Pioneer Investments Austria (PIA) saw outflows of €600m in its institutional business.
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Kas Bank in merger talks with UK institution
[15:30 CET 11-01] NETHERLANDS – Laurens Vis, managing director of the London branch of Dutch securities custody bank Kas Bank, has said the company is in ‘serious talks’ with a UK based institution over a possible joint venture.
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2007 sees Partners’ AuM grow by 41%
[15:45 CET 10-01] SWITZERLAND – Partners Group, the Swiss alternative assets manager, has reported a 41% increase in assets under management (AuM) at the end of 2007.
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SWIP forays into FoFs
[16:55 CET 07-01] UK – Scottish Widows Investment Partnership (SWIP) has launched two absolute return funds, making its first foray into the UK fund-of-funds market.
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Randstad goes fiduciary with Kempen
[16:00 CET 21-12] THE NETHERLANDS – The Dutch temping agency company Randstad has appointed the Dutch asset manager Kempen Capital Management (KCM) to manage its €390m pension fund.
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'Rebalancing' nations will prevent global recession - Principal
[11:00 CET 21-12] GLOBAL – Though a global recession is unlikely, developed nations may experience a rebalancing of financial power, a US economist has suggested.
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ABP and Cordares take first steps to merger (amended)
[15:30 CET 20-12] NETHERLANDS – The Dutch €220bn ABP fund, the industry-wide pension fund for the building industry and the fund for building corporations have effectively announced the first step to a merger by signing a declaration of intent of cooperation.
