Asset Managers – Page 253
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Stouthamer boosts European team
REAL ESTATE - Composition Capital – the investment management firm set up by former MN Services real estate chief Erwin Stouthamer last year – is close to hiring an investment manager for its Composition Capital Europe fund.
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PPF to appoint specialist fund managers
UK – The Pension Protection Fund will appoint specialist fund managers from next year, according to its new three- year strategic plan.
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Unilever UK scheme taps Mercer for advice
UK – Unilever’s roughly £4.3bn (€6.3bn) UK pension scheme has axed Russell Investment Group as investment consultant in favour of Mercer, scheme chief investment officer Wendy Mayall confirmed today.
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North Yorkshire axes JP Morgan from €1.7bn
UK – The roughly £1.15bn (€1.7bn) North Yorkshire Pension Fund has axed JP Morgan as global custodian, a scheme official confirmed today.
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Former FIM Group chief executive faces jail
FINLAND – The former chief executive of Finnish broking and asset management group FIM, Seppo Sairanen, has been sentenced to jail by the District Court of Helsinki for alleged fraud.
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Fortis names global LDI head
NETHERLANDS – Fortis Investments has appointed Alexander Van Aken to the new position as global head of liability driven investment.
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UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
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GSAM nabs HSBC’s Cheetham for institutional role
UK - Goldman Sachs Asset Management has hired HSBC Asset Management’s Geoff Cheetham to boost its UK Institutional sales team.
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Mcube, Avida in portfolio software partnership
GLOBAL – Dutch-based consulting firm Avida International has entered into a partnership with Texas-based Mcube Investment Technologies with regards to Mcube’s web-based software product AlphaEngine.
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PensionDanmark starts real estate project
DENMARK – PensionDanmark today began building apartments in Måløv, near Copenhagen, that will be ready for occupation at the end of 2007.
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European asset managers now run €30trn
EUROPE - Asset managers in the European market saw the assets they manage surge last year to more than €30trn, according to IPE’s calculations, up from last year’s estimate of €26trn when the increase on the year was only €2trn.
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GSAM gets €11.9bn net inflows
GLOBAL – Goldman Sachs Asset Management gained $15bn (€11.9bn) of net inflows in the second quarter.
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Hewitt considers raising stake in German venture
GERMANY – Hewitt Associates is considering raising its minority stake in the BodeHewitt joint venture it launched almost a year ago with Bode Grabner Beye.
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Italy’s Prevedi seeking asset managers
ITALY - Prevedi, the complementary pension fund for employees in the industrial and building companies is looking for up to four asset managers to manage its €24m portfolio.
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Lupus alpha hedge fund specialist to leave
GERMANY – Kay-Peter Tönnes, hedge fund specialist at Frankfurt asset management boutique Lupus alpha, is to leave to start his own business.
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Citigroup, LGIM in pooling tie for Dutch schemes
EUROPE – Citigroup’s Global Transaction Services arm has created a pension pooling structure using an Irish common contractual fund vehicle for the Dutch pension fund clients of Legal & General Investment Management.
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Shell may pool international pension assets
NETHERLANDS – Oil giant Shell is looking at pooling the assets of some of its main international pension funds under the Netherlands’ new tax-transparent asset pooling vehicle ‘Fonds voor Gemene Rekening’.
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Nordrheinische doctors fund taps GSAM for GTAA
GERMANY – Nordrheinische Ärtzeversorgung (NAEV), a €7.5bn pension fund for physicians, has awarded Goldman Sachs Asset Management a global tactical asset allocation mandate worth €60m.
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France’s new Natixis to be €534bn heavyweight
FRANCE - After two and half months of discussion, Caisse d’Epargne and Banque Populaire yesterday signed an agreement to merge their investment subsidiaries Natexis and Ixis - creating France’s second largest funds management company with assets of €534bn.
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Norwegian government fund excludes Wal-Mart
NORWAY – US retailer Wal-Mart is being excluded from the Norwegian Government Pension Fund – Global’s investment universe because of alleged serious and systemic human rights violations.
