Asset Managers – Page 219
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News
Ospel quits UBS amid further write-downs
[15:00 CEST 01-04] SWITZERLAND – Crisis-ridden Swiss bank UBS has announced another capital increase to balance out further write downs of $19bn (€12bn) on subprime related assets.
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Pension funds shun UK equity
[16:50 CET 31-03] UK – Pension funds have never invested less in UK equities, according to BNY Mellon Asset Servicing, as its own an asset allocation study has found weightings in the asset class slumped to 28.7% in 2007.
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Capita Hartshead moves into investment advice
[16:40 CEST 31-03] UK – Capita Hartshead has launched a new investment consultancy service that aims to provide a range of advice services for both defined benefit (DB) and defined contribution (DC) schemes.
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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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News
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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News
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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News
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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News
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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News
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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News
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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News
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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News
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.
