Asset Managers – Page 248
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MLIM nabs Gartmore’s Melvin for strategy role
EUROPE – Sarah Melvin, strategy manager at Gartmore Investment management, has left to join Merrill Lynch Investment Management as director of strategy and business development in Europe, the Middle East and Africa.
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Schroders posts €6.8bn institutional outflow
UK – Schroders had a net outflow of institutional assets of £4.6bn (€6.8bn) and a decline in asset management profit in the first half.
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Aegon posts positive E. Europe pension business
NETHERLANDS – Insurance group Aegon reported positive developments in its fledgling Eastern European pensions business in its first-half results today.
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Fortis Investments gets €7.1bn inflow
EUROPE – Fortis Investments, the asset management arm of the Fortis group, had a net inflow of funds under management of €7.1bn in the first half due to good performance in both institutional and retail markets.
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ING’s assets under management drop €8.9bn
GLOBAL – ING lost a total €8.9bn of assets under management in the second quarter – “shaved” by market declines and currency movements.
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Watson sees “robust” demand from pension clients
GLOBAL – Watson Wyatt Worldwide has reported “robust demand” for investment strategy and fund manager selection services amid an 18% increase in revenues at its investment consulting group.
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SSGA facing loss of $13bn CalPERS index brief
US – California pension giant CalPERS is considering terminating State Street Global Advisors from a $13bn (€10.2bn) international equity index mandate.
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Luxembourg FDC scheme in €4bn tender
LUXEMBOURG – The new fund set up to hold Luxembourg’s excess pension revenues is looking for managers to administer its €4bn in assets, excluding real estate and loans.
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Blue Sky wins €50.8 KLM UK brief
NETHERLANDS – Blue Sky Group, the manager of KLM’s Dutch pension assets, has been appointed to run £34.8m (€50.8m) for the KLM (UK) Pension and Life Assurance Scheme.
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JLT, Northern Trust in manager-of-managers tie
UK – Northern Trust Global Investments is to select and monitor asset managers for Jardine Lloyd Thompson’s UK pension fund clients under a partnership deal announced today.
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Shetland Islands fund seeks specialists
UK – The £275m (€408m) Shetland Islands Council Miscellaneous Fund is tendering £80m of its assets, the council has said.
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Ex-Mn Services’ Dijkhuis sets up own firm
NETHERLANDS - Jan-Willem Dijkhuis, former director of Dutch real estate investments at asset management firm Mn Services, has set up his own consultancy firm for the financial and real estate sector.
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Germany’s MLP axes sales chief
GERMANY – Financial services firm MLP has parted company with its chief sales executive following weak sales of its occupational and private pensions during the second quarter.
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Fortis institutional sales director exits
NETHERLANDS - Robert Lobo, director of institutional sales at Fortis Netherlands, has left the company, Fortis has confirmed.
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ESPS terminates €1.48bn F&C real estate brief
UK – The €27bn Electricity Supply Pension Scheme has terminated its £1bn (€1.48bn) real estate mandate with F&C, the asset manager says.
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ABP, PGGM get double boost from Philips
NETHERLANDS – Dutch pension fund giants have ABP and PGGM have had a double boost from technology firm Royal Philips Electronics recently.
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Germany’s BVV gets WestLB deal
GERMANY – BVV, a €17.7bn pension fund for the German financial services industry, says it will provide a corporate pension to employees at Landesbank WestLB – the fourth Landesbank it has acquired as a client.
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AXA IM, BGI and SGAM post strong asset inflows
EUROPE – The asset management divisions of AXA, Barclays and Societe Generale all posted multi-billion rises in assets under management.
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Hermes’ Biles joins water company board
UK - Hermes Pension Management director John Biles is to join the board of Sutton and East Surrey Water Plc, the UK utility bought last year by Deutsche Bank’s infrastructure investment business.
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ING disbands global retirement department
NETHERLANDS – ING Group, the Dutch banking and insurance group, has abolished its Global Retirement Services department.
