Asset Managers – Page 238
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ABP, SSGA expand alliance with $1.1bn
GLOBAL – Stichting Pensioenfonds ABP and State Street Global Advisors have expanded their State Street Global Alliance partnership with an extra $1.1bn (€830m).
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BGI outsourcing with JP Morgan complete
UK – Barclays Global Investors has completed its European investment outsourcing arrangement with JP Morgan Worldwide Securities Services.
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New Dutch flower sellers’ pension fund launched
NETHERLANDS - A new industry-wide pension scheme for the Dutch flower sellers has been established, pensions provider AZL has announced.
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PGGM in loan portfolio deal with ABN Amro
NETHERLANDS – The €80bn Dutch healthcare and social work pension fund PGGM has entered a partnership with ABN AMRO in which both share the risk related to the bank’s loan portfolio.
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Robeco names fund-of-hedge funds CEO
GLOBAL – Robeco, the asset management arm of Rabobank, has named Michael Abbott as chief executive of its fund of hedge funds group Robeco-Sage Capital.
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Nestlé launches pension advisory group
EUROPE – Nestlé, the Swiss food group, has confirmed the January 1 launch of a new pension advisory unit and a new asset management unit to serve its pension schemes worldwide.
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Consultants, clients concerned over BoNY-Mellon
GLOBAL – The merger announced this week by custody providers Bank of New York and Mellon Financial Corp. has been greeted with concern by consultants, pension fund clients and industry insiders.
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Threadneedle names global head of consultants
GLOBAL - Threadneedle Investments has named Morley’s Angus Scrace as global head of consultants and investment specialists, a new role.
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BGI launches UK government bond ETFs
UK - Barclays Global Investors has launched two UK government bond Exchange Traded Funds for UK investors.
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Belgium in talks with European, US funds
BELGIUM – The Belgian Association of Pension Institutions (BVPI) is in "serious talks" with European pension funds and one American fund in a further effort to establish Belgium as a pan-European pension fund domicile.
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Dutch institutions’ raw materials appetite grows
EUROPE – Dutch institutional investors such as pension funds have a growing appetite for raw materials, so far they have invested already around €20bn (£13.5bn) in the asset class reports show.
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Deutsche’s DWS rolls out sixth hedge fund
GERMANY – Deutsche Bank’s retail fund arm DWS is rolling out its sixth single hedge fund domiciled in Germany amid signs of growing investor demand for the products, according to DWS chief executive Klaus Kaldemorgen.
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Mellon, BoNY assessing custody joint ventures
EUROPE – Mellon Financial and the Bank of New York are assessing their respective European custody joint ventures following yesterday’s announcement that they plan to merge.
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SPF Beheer aims to take on six pension clients
NETHERLANDS – SPF Beheer says it aims to take on the asset management of up to six pension funds in the next few years.
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Societe Generale under review at Kent CC
UK – The £2.4bn (€3.6bn) Kent County Council Superannuation Scheme is tendering a £350m UK equities mandate currently held by Societe Generale Asset Management.
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Barings wins €126m Mitsui Babcock brief
UK – The energy company Mitsui Babcock Ltd. has awarded Baring Asset Management an £86m (€126m) segregated multi-asset diversified growth mandate.
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BNP Paribas AM names new German head
GERMANY – The German arm of BNP Paribas Asset Management has named Ilona Wachter as its new institutional business head, effective from last December 1.
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Allianz unveils pan-European pension product
EUROPE – The German insurance company Allianz has revealed details of its pan-European pension product “European CompPension”.
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3,900 jobs go as BoNY, Mellon merge (Update)
GLOBAL - The Bank of New York and Mellon Financial Corp. have announced a definitive agreement to merge into a new entity to be called the Bank of New York Mellon Corp (Updates with reaction comment).
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Shropshire fund moves out of UK property
REAL ESTATE - Shropshire County Council pension fund is seeking an investment manager for a £43m (€63.7m) pan-European real estate portfolio.
