Asset Managers – Page 234
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Strathclyde seeks property valuer
[17:06 CEST 11/05] UK – The £9.6bn (€14.1bn) The Strathclyde pension fund for Glasgow County Council is looking for a new independent property portfolio valuer.
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Warwickshire makes foray into alternatives
[17:03 CEST 11/05] UK – Warwickshire County Council pension fund has awarded three mandates which allow the £1bn (€1.4bn) fund to invest in the alternatives market.
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DekaBank opens Vienna office
[17:02 CEST 11/05] AUSTRIA – German asset manager DekaBank is opening an office in Vienna targeting pension funds in Austria and Eastern Europe.
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Unions demand pension funds unite on investment
[17:10 CEST] NETHERLANDS - Top-level talks between the pensions sector, insurers and banks are necessary to consolidate the Dutch position on asset management, suggests the largest union FNV.
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NTGA arrival to challenge consultants (amended)
GLOBAL – Asset management houses and consultants are not doing enough to ensure they meet pension funds’ individual investment needs, according to a new head at Northern Trust Global Advisors who intends to take on the firms’ services.
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Edinburgh re-appoints State Street
UK – Edinburgh Council has renewed State Street Global Advisors' contract for a £113m (€180m) Scottish Homes pension fund mandate.
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AP7 in major portfolio overhaul
SWEDEN – In a major revamp of its portfolio the SEK80bn (€8.8bn) Swedish buffer fund AP7, Sjunde AP-fonden, shows more appetite for risk but not for hedge funds.
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Funds select managers past their peak – WM Services
UK – Trustees are often selecting managers at the top of their performance cycle, according to WM Performance Services.
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UK mutual insurers talk merger
UK - Life insurance groups Royal London and Royal Liver Assurance have today announced they are in early talks about a possible merger.
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ABN Amro frees up private equity arm
NETHERLANDS - ABN Amro, the Dutch bank subject to a bidding war from rivals, will transfer the management of most of its private equity business to an affiliate.
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Germany revamps investment law
GERMANY – The government has approved a host of reforms of Germany’s investment law, including easing investment restrictions on open-ended real estate funds and institutional funds and cutting approval periods for new funds.
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Ciba axes BlackRock
UK – The UK pension fund of Swiss pharmaceuticals giant Ciba Speciality Chemicals has axed BlackRock in favour of Insight Investments.
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Union Investment agrees Chinese joint venture
GLOBAL – German asset manager Union Investment has teamed up with Hong Kong-based Bank of East Asia (BEA) to launch a new fund venture for the Chinese market. Financial terms were not disclosed.
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Sal. Oppenheim buys French asset boutique
EUROPE – German private bank Sal. Oppenheim has fully acquired Financière Atlas, a French asset management boutique, in a move which it says will give it a bigger share of France’s institutional market.
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Swedbank grows AUM by €18.5bn
SWEDEN – Swedbank and Folksam have agreed to join their asset management business under the Swedbank trademark which will see SEK170bn (€18.5bn) in pension assets flow to Sweden's largest bank.
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Schroders names new chief financial officer
UK – Asset management firm Schroders has promoted Stephen Brooks to replace Jonathan Asquith as chief financial officer.
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BGI staff twice as profitable as ABN Amro AM
GLOBAL – Barclays Global Investors is twice as profitable per employee as ABN Amro Asset Management, according to company figures.
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Unilever taps JP Morgan for global equities
UK – The €5.6bn (£3.8bn) UK pension fund of household goods giant Unilever has appointed JP Morgan’s asset management arm to run a £440m global equities mandate.
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Four Winds Capital to raise $100m for timber
UK - Four Winds Capital, the alternatives boutique which recently established a London office, is looking for a secondary $100m in equity fundraising for timber fund, Phaunos.
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Siemens files charges against external managers
SWITZERLAND – Siemens’ Swiss arm has filed criminal charges against what it said were “external managers” who had links with Roland Rümmeli, the disgraced former head of investments at its pension fund (Pensionkasse).
