Asset Managers – Page 241
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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.
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BHF’s Frankfurt-Trust names new institutional chief
GERMANY – Frankfurt-Trust, the asset manager of private bank BHF-Bank, has named Gerhard Engler as its new managing director for institutional funds and corporate pension solutions. The appointment is effective from January 1.
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CSAM names new Germany head
GERMANY - Credit Suisse has named BNP Paribas’ Axel Grosskreutz as the new head of Asset Management in Germany as of January 2.
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IPE AWARDS: Full list of winners
IPE AWARDS – Below is the full list of winners of the 2006 IPE Awards, held today in Paris:
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IPE AWARDS: Ilmarinen named Best European Fund
IPE AWARDS – Finland’s Ilmarinen was named Best European Pension Fund 2006 at the sixth annual IPE Awards ceremony in Paris today.
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IPE AWARDS: Build stronger portfolios, schemes told
EUROPE - Pension funds should build stronger portfolios to brace themselves for worst-case scenarios rather than just researching them, the annual IPE Awards Seminar in Paris was told today.
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Irish schemes shun alternatives - IAPF
IRELAND – Alternative assets such as hedge funds, private equity and currency are “generally unpopular” with the trustees of defined benefit pension funds in Ireland, says the Irish Association of Pension Funds.
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Merrill Lynch pension solutions MD to leave
UK – Anthony Simpson, managing director at Merrill Lynch’s Insurance and Pension Solutions unit, is to leave to join Ramius HVB, IPE has found.
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Aberdeen goes to Luxembourg
EUROPE – Aberdeen Asset Managers is opening an institutional business development and client servicing office in Luxembourg.
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Henderson makes European appointments
EUROPE – Henderson Global Investors has made a series of appointments in Zurich and Amsterdam.
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Nordea asset head to take over as CEO
EUROPE - Christian Clausen, Nordea’s head of asset management and life, is to take over from Lars Nordström as president and group chief executive.
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Barclays Global Investors’ Europe CEO to leave
GLOBAL – Nigel Williams, chief executive of Europe and Asia (excluding Japan) at Barclays Global Investors, is to retire in mid-2007 and be replaced by David Semaya.
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Cambridge University names CIO for €1.8bn
UK – The University of Cambridge has named Man Global Strategies’ Nick Cavalla as its first chief investment officer - to oversee more than £1.2bn (€1.8bn).
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Warning over €58bn of univested buyout funds
EUROPE – There was a warning today from mezzanine finance specialist Intermediate Capital Group that the European private equity buyout market, with some €58bn of uninvested funds, is overheating.
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Management accountants warn on LDI risk
UK – The Chartered Institute of Management Accountants has warned that adopting a Liability Driven Investing strategy could mean missing out on excess return.
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Schroders, BBC keep mum on mandate report
UK – Both the BBC and Schroders have declined to comment on a newspaper report that the broadcaster has axed the asset manager from running a pension fund mandate.
