Asset Managers – Page 241
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SEI’s institutional sales head leaves
UK – Francis Ellison, head of institutional sales at multi-manager SEI Investments’ London office, has left according to the firm’s head of institutional business Patrick Disney.
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€5bn in Italian TFR money looking for managers
ITALY – Under the new law on the severance pay (TFR) an estimated €5bn is to flow into private pension funds.
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New Nestlé pension arm takes over
EUROPE – The newly created Nestlé Capital Management (NCM) is to take over from Nestlé UK Pension Trust Ltd or Fonds de Pensions Complementaire Nestlé as investment manager for the company’s in-house Robusta funds.
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Goldman Sachs AM Germany chief exits
GERMANY – James Dilworth has quit as managing director of Goldman Sachs Asset Management in Germany.
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Investment Management Association gets new chair
UK – The UK’s Investment Management Association, the asset management trade body, has named Robert Jenkins as its new chairman.
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Interpolis asset management head leaves
NETHERLANDS – Interpolis’ head of asset management Herman Bril has left the Dutch insurer to join Aegon where he will lead the firm’s treasury and capital management activities.
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Robeco names international chief
GLOBAL – Robeco, the asset management arm of Rabobank, has named former ABN Amro Asset Management executive Frank Kusse to head up its international expansion.
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European institutions ‘uneasy’ about bond trading
EUROPE – European institutions are becoming uneasy about developments in the fixed-income market – fearing hedge funds are taking too much of dealers’ attention, according to Greenwich Associates.
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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.
