Asset Managers – Page 224
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News
Welsh £50m currency brief awarded
[16:15 CET 31-10] UK – The £1.36bn (€1.9bn) Council of Rhondda Cynon Taf pension fund has hired Record Currency Management for its first foray into currency investment.
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Nordic pensions pass €200m to Dr. Lübke AM
[16:00 CET 31-10] GERMANY/NORDICS – German real estate consultancy Dr. Lübke has started its new asset management operations with €200m in investments from Scandinavian pension funds, the company revealed today.
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Netherlands needs FGRs to become 'pensions champion'
[15:30 CET 310-10] NETHERLANDS - The Dutch financial services sector could stimulate its international pensions position through the creation of cross-border asset-pooling vehicles based on existing mutual funds for joint accounts (FGRs), pension fund experts have argued.
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Moody's predicts cross-border banking consolidation
[16:15 CET 30-10] ITALY – The incorporation of Capitalia into UniCredito was probably the last chance for a major inter-Italian consolidation in the banking sector but mergers are likely to continue cross-border, analyst group Moody's has stated.
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Former minister calls for local pensions ringfence
[16:30 CET 29-10] NETHERLANDS - Dutch pension funds should support the domestic financial services industry by ring-fencing capital for domestic investment managers, former foreign affairs minister Ben Bot has suggested.
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Kaupthing ups ante in SPP takeover
[16:15 CET 29-10] ICELAND – Iceland’s Kaupthing Bank intends to further buy into Storebrand following last week’s shareholders support for the Norwegian life insurers takeover bid of Swedish pension group SPP.
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Morley keeps watch on European diversified launch
[14:00 CET 29-10] UK - Aviva’s asset management arm Morley has launched a multi-asset fund targeted at smaller UK pension funds but which it hopes to be able to roll out across Europe in due course.
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Lærernes to review PFA and Bankinvest
[16:30 CEST 26-10] DENMARK - The DKK24.5bn (€3.3bn) Danish Teachers' Pension and Life (Lærernes Pension) will be reviewing its Danish equity managers.
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M&A-hungry Threadneedle pushes into Italy
[16:30 CEST 26-10] EUROPE – UK-based asset manager Threadneedle Investments is looking to open an Italian office, while actively pursuing mergers and acquisitions (M&A) elsewhere in Europe.
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More institutions target fewer managers – study
[16:25 CEST 26-10] EUROPE – Institutional assets under management (AuM) throughout Europe increased by 14% in 2006, but only few manager consistently win business, according to a study by consultancy firm McKinsey & Company.
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Resolution dumps Friends for marriage with new suitors
[16:00 CEST 26-10] UK – Financial services group Resolution plc has dropped plans to merge with UK life assurance group Friends Provident and has agreed selling the company to Standard Life, but rival Pearl has also come back at the 11th hour with a fresh takeover bid topping Standard’s offer.
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News
AP3 signs enhanced managers
[15:00 CEST 25-10] SWEDEN – The SEK227.7bn (€25bn) third Swedish buffer fund AP3 has selected 13 managers for enhanced indexing briefs.
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Academics find ESG helps performance
[12:30 CEST 25-10] GLOBAL – Applying environmental, social and corporate governance (ESG) to your portfolio has a positive impact on performance, the United Nations and Mercer has found.
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News
Swedish firm eyes fiduciary trail
[14:30 CEST 24-10] NETHERLANDS – The €400m Dutch scheme of the Swedish hygiene goods and paper multinational Svenska Cellulosa Aktiebolaget (SCA) is contemplating fiduciary management, IPE has learned.
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UBS expands in France
[13:00 CEST 24-10] GERMANY/SWITZERLAND – Swiss bank UBS is set to buy German Commerzbank's French asset management arm Caisse Centrale de Réescompte (CCR) for €435m.
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AP1 reviews Pacific mandates
[14:00 CEST 23-10] SWEDEN – The SEK221bn (€24bn) buffer fund AP1 is tendering a $680m (€478m) Pacific ex-Japan equities mandate.
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Kier Group refutes buyout rumours
[15:30 CEST 22-10] UK – The Bedfordshire-based construction company Kier group has confirmed it is not thinking of selling its £540m (€774m) pension fund to a specialist buyer.
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T-Charter labelled as 'too weak'
[15:00 CEST 22-10] GLOBAL – Standards set by the newly-launched charter for best practice in transition management should be raised, State Street, Barclays Global Investors (BGI) and Russell Investments have demanded.
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News
Growth will become scarce - Merrill Lynch
[17:00 CEST 19-10] GLOBAL – Investors expect growth will become increasingly scarce, according to the latest Merrill Lynch fund manager survey.
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State Street reports merger costs of $141m
[17:10 CEST 18-10] US – The acquisition of Boston-based Investors Financial Services cost global custodian State Street $141m (€99.5m) the company revealed in its Q3 report.
