Asset Managers – Page 249
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Germany’s BVI seeking consultant transparency
GERMANY – Claiming inadequate transparency among investment consultants, German fund industry association BVI has prepared a questionnaire seeking detailed information about their business, IPE has learned.
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Icelandic pension funds buy into financial group
ICELAND – Nine Icelandic pension funds have bought more than six percent of financial services group Exista from Kaupthing Bank.
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LGIM names global fixed income head
GLOBAL - Legal & General Investment Management has named Gartmore's Roger Bartley as its new global head of fixed income.
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Deutsche asset mgmt division assets down €33bn
GLOBAL – Invested assets at Deutsche Bank’s asset management division have slipped by €33bn amid an unspecified amount of net institutional asset outflows.
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ABN Amro AM profits fall amid €1.8bn outflow
GLOBAL – ABN Amro has disclosed €1.8bn in net outflows and a fall in profits at its asset management business unit in the second quarter of 2006.
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Germany's Westfalen-Lippe fund backs Hermes
GERMANY - The €6.85bn Westfalen-Lippe doctors' pension fund has put €25m into the Hermes European Focus Fund.
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Mercer takes over at €2.4bn Allied Domecq scheme
EUROPE – Mercer Human Resource Consulting has taken over the running of the €2.4bn pension fund of drinks firm Allied Domecq.
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State Street CEO eyes hedge fund acquisitions
GLOBAL – State Street chief executive Ron Logue has indicated that the bank sees opportunities to make acquisitions in the areas of asset management, institutional books of business and - possibly - hedge funds.
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Williams exits Railpen Investments after a year
UK – Griff Williams, senior investment manager at Railpen Investments, has left after just over a year to join Pioneer Investments.
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L&G eyes longevity risk products for big schemes
UK – Legal & General says it sees “significant” growth opportunities in new products offering longevity products to larger pension schemes.
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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Myners joins Land Securities as chairman
UK – Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government, is to join real estate firm Land Securities as chairman.
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SSGA Nordic chief de Greef joins Acadian
EUROPE - Laurent de Greef, head of marketing and business development for Nordic and Southern Europe at State Street Global Advisors, has joined Acadian Asset Management to run its new London office.
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Belgium legislates for pan-European funds
BELGIUM - The Belgian government has passed legislation enabling pan-European pension funds to operate in and from the country.
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Russell hires Mercer Global Investments chief
GLOBAL - Russell Investment Group has hired Mercer Global Investment’s US president Barry McInerney as director of client service.
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Legg Mason axes 410 jobs as clients pull $7bn
US – Legg Mason says it has axed 410 jobs following its acquisition last year of Citigroup Asset Management and the Permal Group.
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Forbo scheme names MN as investment manager
NETHERLANDS - The company pension fund of linoleum producer Forbo has selected MN Services as its new investment manager, MN has announced.
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Eureko to sue Polish govt as row escalates
NETHERLANDS – Eureko, the Dutch insurer which owns pensions firm Achmea, is to sue the Polish State Treasury for an infringement of its personal rights.
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Bromley hands CAAM €58.5m in absolute returns
UK – The £320m (€468m) London Borough of Bromley Pension Fund has awarded Crédit Agricole Asset Management a £40m (58.5m) absolute return mandate.
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Oppenheim asset chief Borgmeier quits for rival
GERMANY – Bernd Borgmeier, co-head of Sal. Oppenheim’s asset management arm, has stepped down to join rival M.M. Warburg.
