Asset Managers – Page 235
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News
Norwegian fund seeks real estate tax advice
NORWAY – The Norwegian finance ministry has issued a tender for a company to draft a report on tax issues relating to investments in real estate and infrastructure in 32 markets outside Norway.
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XS Investments targets Dutch fiduciary
NETHERLANDS – The Dutch investment manager XS Investments intends to set up a fiduciary management solution in the near future. “We are in talks with various parties, but it is early days,” Oscar Pesch a director at XS, told IPE.
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Robeco takes full control of Transtrend
NETHERLANDS - Asset manager Robeco has fully acquired the managed futures trader Transtrend, it announced.
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PGGM adds voice to ABN Amro’s critics
NETHERLANDS – Beleaguered Dutch bank, ABN Amro said it was happy to talk with shareholders as they mount pressure to break up the bank.
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USS expands SRI team
UK – The £29bn (€43bn) Universities Superannuation Scheme (USS) has made two new hires to extend its responsible investment team.
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Hedge fund urges ABN Amro break-up
UK/NETHERLANDS - British hedge fund, TCI has demanded Dutch banking group, ABN Amro put itself up for sale or to break up in order to increase the value of the company.
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F&C takes LDI funds to market
EUROPE – F&C is now marketing its pooled liability driven investment (LDI) solution, which aims to optimise European pension funds’ exposure to return generating assets.
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AP1 to review active Japan strategy
SWEDEN – Martin Currie, Nomura and Marathon have been placed under review as the largest Swedish buffer fund, the SEK188bn (€20.4bn) Första AP-fonden (AP1), reviews its Japanese equity strategy.
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Experts urge funds to diversify, not protect portfolios
GLOBAL – Long-term investors such as pension funds should diversify rather than protect portfolios against short-term losses, according to a new study by ABN Amro and the London Business School.
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Ex-Philips chief rails against LDI
NETHERLANDS - The former head of one of the Netherlands largest corporate pension funds has criticised the “rigid” application of LDI strategies by pension funds in the Netherlands.
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State Street to buy Investors Financial Services for €3.5bn
GLOBAL – State Street Corporation will acquire Investors Financial Services Corporation for $4.5bn (€3.5bn) to bring its assets under custody over the $14trn mark.
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Close Brothers buy Aon Asset Management
UK – Close Investments has acquired Aon Asset Management, Aon Consulting’s UK-based multi-manager arm for an undisclosed sum.
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BNP Paribas jumps on to the GTAA train
EUROPE – BNP Paribas has launched its first global tactical asset allocation (GTAA) fund for institutional investors.
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Nordea/SEB merger rumours leave funds untroubled
SWEDEN – Swedish pension funds are unfazed by renewed merger rumours between Nordea, the Nordic region’s largest financial services group, and third-largest SEB AB.
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T Rowe Price’s results boosted by international expansion (amended)
GLOBAL - Growth of European assets under management helped boost the total assets of US manager T Rowe Price to $334.7bn (€260bn) at close of 2006, up 24.2% from $269.5bn end 2005.
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Worldwide pensions assets hit €18trn
GLOBAL - Equities out-performance and widespread diversification into alternatives doubled pension fund assets over a 10-year period to $23.2trn(€17.8trn) at the end of 2006, according to investment consultants Watson Wyatt.
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Aberdeen targets €5bn in Germany
GERMANY – Aberdeen Asset Management is aiming to win up to €5bn from Germany’s institutional market in the mid-term.
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Julius Baer sells JBIL offshoot in UK to management
UK/SWITZERLAND – Swiss private bank Julius Baer will sell its UK-based fixed income and currency asset management subsidiary Julius Baer Investments Ltd (JBIL), with CHF11bn (€6.82bn) in assets, to its management.
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KAS Bank to expand operations to German institutions
GERMANY – KAS Bank, the Dutch securities services bank, will expand its institutional market with a German office in the second half of 2007, the firm’s chairman Albert Röell has announced.
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Syndicate moves into institutional market with EPIC buy
UK – Syndicate Asset Management (SAM) buys EPIC Investment Partners (EIP) to make its first major step into institutional asset management. The £17.7m deal brings (SAM) £2.5bn (€3.9bn) worth of institutional assets under management.
