Asset Managers – Page 237
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News
Morgan Stanley AM quarterly profits down 50%
GLOBAL – Morgan Stanley has reported a 50% decline in pre-tax income at its asset management business for the fourth quarter.
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Dutch doctors award €100m European small-caps
NETHERLANDS – The €12bn Dutch Doctors Pension Fund has awarded Munros Capital Management with a €100m European small-cap equities mandate.
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MN Services names commercial director
NETHERLANDS – AXA’s Pieter Kiveron is returning to Dutch pension servicing company MN Services as commercial director, it was announced today.
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AP3 taps Aberdeen for €221m in real estate
SWEDEN – AP3, the SEK196.1bn (€21.7bn) Swedish buffer fund Tredje AP-fonden, has appointed Aberdeen Property Investors to build a European real estate equity fund portfolio worth SEK2bn (€221m).
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Consulting firm Blacket goes into liquidation
UK – Blacket Research, the firm set up to evaluate trustee decisions and investment consultants’ advice to pension funds, has gone into liquidation after heavy losses.
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Capital International institutional assets decline (amended)
EUROPE – Capital International has seen its European (including UK) institutional assets decline 5% since December 2005.
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PGGM confirms asset management-admin split
NETHERLANDS – The €77bn healthcare and social workers’ scheme PGGM, has officially announced the separation of its asset management and administration activities.
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UBS, Aberdeen under review in Waltham revamp
UK – The £430m (€641m) London Borough of Waltham Forest pension fund is completely overhauling its investment strategy in a move from multi-asset to specialist managers.
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Dutch printing scheme contracts out equities
NETHERLANDS - The pension fund for the printing industry says it will contract out most of its equity portfolio to specialized external managers.
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Schroders buys German real estate manager
GERMANY - Schroders says it has agreed to buy German real estate asset manager Aareal Asset Management GmbH for an initial £18.8m (€28m) from Aareal Bank.
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Aegon eyes European expansion
EUROPE – Dutch insurer Aegon, the second largest in the Netherlands, is looking to expand its private pensions operations to Romania, the Ukraine, Italy and Germany.
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Lehman Brothers AM gets $35bn inflow
GLOBAL – Lehman Brothers says it had a net inflow of $35bn (€26.5bn) of assets under management in the year ended November 30, up from $26bn a year before.
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Alternatives chief to chair Dexia AM
EUROPE – Dexia has named Naïm Abou-Jaoudé to succeed Hugo Lasat as chairman of the management board of Dexia Asset Management.
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USS seeks to strengthen UK equities team
UK – The £26bn (€38.5bn) Universities Superannuation Scheme is looking for a UK smaller companies portfolio manager to strengthen its UK equities team.
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Robeco takes 64% stake of SAM Group
EUROPE – Robeco has taken a 64% stake in Swiss-based SRI firm Sustainable Asset Management for an undisclosed sum.
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Capital International marketing chief joins Lehman
UK – Capital International’s Olaf John has joined Lehman Brothers Asset Management as its new head of distribution for Germany and Austria.
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European firms see pension risk – survey
GLOBAL – Nearly a quarter of continental European companies believe their pension plans represent a serious risk to the organisation, a survey by Mercer has found.
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John Lewis awards Japan equities to JP Morgan
UK – The £1.7bn (€2.5bn) John Lewis Partnership pension fund has awarded JP Morgan Asset Management a £50m Japanese active equities mandate.
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Goldman Sachs AM gets $94bn in net inflows
GLOBAL – Goldman Sachs says it had a total of $94bn (€139.5bn) of net asset inflows into its asset management business in 2006.
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Threadneedle hires FERI’s Roll for Germany
GERMANY – Threadneedle Investments has recruited Oliver Roll from German investment consultant FERI as its new head of institutional business for Germany, IPE has learned.
