Asset Managers – Page 237
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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).
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Wednesday people roundup
GLOBAL – Mercer, ABN Amro AM, Invesco, Henderson, Santander AM, BGI, F&C, KAS Bank, ING Real Estate, oekom research.
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Institutions still downbeat – Merrill survey
GLOBAL – Institutional investors are “still fundamentally pessimistic” about the outlook for corporate profit growth, fixed income and credit, a survey by investment bank Merrill Lynch has found.
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UK’s Marathon Club calls for statement of beliefs
UK - Pension trustees should be clear about their investment beliefs as well as focus less on short-term asset manager performance, says the Marathon Club.
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CSAM Germany posts institutional inflows
GERMANY – The German arm of Crédit Suisse Asset Management has reported mixed results for 2006, with its institutional funds posting inflows and its mutual funds hit by outflows.
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Assets surge at US custody banks
GLOBAL – Three of the largest US-based custody banks have reported a surge in assets under management and custody in the first quarter.
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Regulators probe Dutch institutional real estate
NETHERLANDS – Dutch regulators are probing institutional investors’ real estate investment activities to detect corruption.
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Fidelity eyes Dutch fiduciary market
NETHERLANDS – Asset manager Fidelity International is the latest to enter the popular Dutch fiduciary and LDI market, with further plans expand internationally.
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Fiduciary model set to grow - Watson Wyatt
EUROPE - The Dutch fiduciary management model for running pension assets is set to grow - with banks and consultants increasingly in competition, says Watson Wyatt.
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West Sussex reviews real estate
REAL ESTATE – The £1.5bn (€2.2bn) West Sussex County Council Pension Fund is reviewing its property mandate with Cushman & Wakefield Investors due to contract expiry.
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Link manager pay to data skills – study
GLOBAL – A new academic study has suggested that investment managers’ pay should be tied to their skills in using information.
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Allianz merges hedge fund units
EUROPE – German insurance giant Allianz has merged two hedge fund subsidiaries to create a new Paris-based provider following the departures of three founders of one of the units two weeks ago.
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Investment banks set up longevity group
GLOBAL – A group of leading investment banks including Goldman Sachs, Credit Suisse and UBS have formed a trade association focused on the mortality and longevity market.
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Horeca’s new admin system still not functional
NETHERLANDS – PH&C, the €2bn pension fund for the Horeca Dutch hotel and catering sector, says its administrative arrangement with the Dutch Tax Department and Employees’ Insurance Institute (UWV) is still not functioning.
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SEI Investments plans UK DC launch
UK – US asset management firm SEI Investments is planning to launch a defined contribution (DC) offering in the UK, IPE has learnt.
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PGGM backs giant real estate merger
REAL ESTATE – Dutch healthcare pension fund PGGM has backed a proposed €11bn merger between Dutch real estate fund group Rodamco Europe and French developer Unibail.
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SPF Beheer in fiduciary talks with three funds
NETHERLANDS – SPF Beheer says it is in talks with three pension funds to take on their asset management and pension administration.
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Dutch pension giants shun land mines
NETHERLANDS – Dutch pension giants ABP and PGGM, who together have nearly €300bn in assets, have stopped investing in firms that produce landmines.
