Asset Managers – Page 245
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Hampshire appoints seven new managers, looks into hedge funds
UK – The £2.5bn (€3.7bn) Hampshire County Council Pension Fund has completely overhauled its management structure. In a move from multi-asset to specialist managers it has re-appointed three of the old managers and awarded mandates to seven new managers.
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Fund managers now using cash - Merrill survey
GLOBAL - Investors are putting their cash back to work, following the 25% fall in the oil price, said Merrill Lynch’s David Bowers when presenting the findings of the firm’s October fund manager survey.
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Deutsche names successor to fund head Benkner
GERMANY – Deutsche Bank has appointed Klaus Kaldemorgen to succeed Axel Benkner as head of its retail fund arm DWS and as such, the de-facto number-two in the bank’s global asset management business.
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Allianz to launch pan-European pensions
EUROPE – Allianz will launch a new pan-European pension fund offering later this year, the German insurer and financial service provider announced today.
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RREEF nabs Coca-Cola UK real estate brief
REAL ESTATE - RREEF will run the real estate element of the Coca-Cola Enterprises Pension Scheme.
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Fortis Investments names Rake as COO
BELGIUM – Fortis Investments, the asset management arm of the Fortis group, has nabbed Deutsche Asset Management’s Keith Rake to become its new chief operating officer and member of the executive committee.
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MN Services names fixed income head
NETHERLANDS - Pensions provider MN Services has appointed Hans Copini as head of fixed income.
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French institutional assets rise 39% - study
FRANCE – Fund managers on the French market have seen a rise of 39% to €610bn (£387.8m) in French institutional assets under management, according to a study by consultancy firm Bfinance.
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PGGM mulls new structure to take on insurers
NETHERLANDS - Dutch health care pension fund PGGM is considering restructuring to take on insurance industry competitors, according to reports.
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Allianz merges institutional and retail units
GERMANY – Allianz Global Investors, which had been selling funds to German institutional investors under the dbi brand name, will, from 2007, abolish that brand as well as the dit brand for its retail funds.
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Institutional interest in hedge funds ‘to grow’
GLOBAL – Institutional flow into the hedge fund market will triple by 2010 to reach $1trn (€0.8trn), but only if returns continue to justify fees and higher risks and if managers can provide the quality demanded by institutions, according to new projections.
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CSAM gets new institutional distribution head
EUROPE - Credit Suisse has appointed Lehman Brothers’ John Kremer as its new head of European institutional distribution for asset management.
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SSGA’s UK head Duncombe replaced
UK – State Street Global Advisors’ UK managing director Paul Duncombe is leaving the company to be replaced by European marketing chief Kanesh Lakhani.
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ABP’s Van de Vaart joins Morley
REAL ESTATE – Morley has hired Paul van de Vaart from Stichting Penisoenfonds ABP to lead its real estate securities capability.
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Germany considers private equity crackdown
GERMANY – The German government is considering penalising private equity firms which it believes serve little or no macroeconomic purpose as part of an upcoming private equity law, according to deputy finance minister Barbara Hendricks.
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BP scheme backs Swedish venture fund
EUROPE – The £12bn (€17.4bn) BP Pension Fund has been named as one of the investors in the new InnKap 4 fund of Swedish venture capital firm InnovationsKapital.
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Ireland’s NPRF re-awards €6bn passive mandates
IRELAND – The €17.5bn National Pensions Reserve Fund has re-awarded €6bn in two passive equity mandates to the incumbent managers Bank of Ireland Asset Management/State Street Global Advisors and Barclays Global Investors.
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BGI’s iShares gets Germany head
GERMANY – Andreas Fehrenbach, the former chief executive of German asset manager Activest, has joined iShares, the exchange traded fund unit of Barclays Global Investors, as its new German head, effective immediately.
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Fortis sets up SRI centre in Frankfurt
GERMANY – Asset manager Fortis says it has created a new team in Frankfurt dedicated to socially responsible investing (SRI) amid significant investor demand for SRI in Germany.
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New UK pension buyout firm eyes Europe - FT
EUROPE – The new pensions buyout firm Pension Insurance Corp. has gained £1bn (€1.47bn) in financing and may target deals outside the UK, the Financial Times reported.
