Asset Managers – Page 257
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Hymans sees shift to global equities, bonds
UK – The UK’s 50 largest fund managers saw an increased shift from UK equities to fixed income and global equities in 2005, according to an annual survey by Hymans Robertson.
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F&C hit as €5.5bn Vervoer restructures
NETHERLANDS – F&C will no longer be sole asset manager of the roughly €5.5bn Dutch industry-wide transport sector pension fund, Pensioenfonds Vervoer, when the scheme appoints a fiduciary manager later this month.
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Pictet boosts German institutional team
GERMANY – The German arm of Pictet Asset Management has recruited Tanja Traupe from rival Invesco for the new position of director, institutional investors.
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Finland’s FIM starts Russian asset manager
RUSSIA – Finnish investment group FIM says it plans to start a Russian asset management and mutual fund group.
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Watson Wyatt names new Europe investment head
EUROPE - Senior investment consultant Paul Trickett is to take over as European head of investment consulting at Watson Wyatt from Kevin Carter, who will retire.
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IMF to tap external bond managers
GLOBAL – The International Monetary Fund is to set up a $8.7bn (€6.8bn) investment account – putting at least some of the assets with external bond managers.
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Transaction cost analysis product launched
UK - An enhanced transaction cost analysis product aimed at UK pension funds has been launched by TradeShare.
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Morgan Stanley IM names alternatives chief
GLOBAL – Morgan Stanley’s prime broker heavyweight and hedge fund specialist, Stu Bohart, has been appointed chief of alternative investments at Morgan Stanley Investment Management.
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Mn Services names equities director
NETHERLANDS - Dutch fiduciary management firm Mn Services has named Patrick Wierckx as director of equities.
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Leicestershire axes BGI in review
UK – The £2bn (€2.9bn) Leicestershire County Council Pension Fund has axed Barclays Global Investors as manager of a roughly £400m multi-asset class passive portfolio following a review of the scheme structure.
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Hewitt’s consulting income falls 12%
GLOBAL – Hewitt Associates’ consulting income slipped by 12% to $49m ((€38.8m) in the second quarter – due to higher staff pay.
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Swiss schemes still cutting domestic securities
SWITZERLAND – Swiss pension funds have continued to cut their allocation to domestic bonds and equities, according to a report from Credit Suisse.
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External boards key for small schemes - AZL
NETHERLANDS - Small pension funds could extend their board with external professionals, as a way to guarantee their survival as an independent scheme, says Dutch pensions provider and asset manager AZL.
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LPFA under attack in arms investments claims
UK – The roughly £3.5bn (€5bn) London Pension Fund Authority – which manages London mayor Ken Livingstone’s pension scheme – has more than £11m invested in some of the world’s largest arms manufacturers, according to the Campaign Against Arms Trade (CAAT).
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Dutch launch cross-border asset pooling vehicle
NETHERLANDS - The Dutch Finance Department has endorsed a Fund for Joint Account(FJA) as a tax-transparent vehicle for international asset pooling, it has confirmed.
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German schemes welcome Schuldscheine ratings
GERMANY – German pension funds have welcomed an announcement by international rating agency Moody’s that it will begin rating Schuldscheine (non-negotiable loan certificates) issued by German companies.
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Big European funds back UN investment principles
EUROPE – Some of Europe’s largest pension funds have signed up to the United Nations’ new set of six responsible investment principles.
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MEPs adopt asset management report
EUROPE – The European Parliament today adopted the Klinz report on asset management by a “clear majority”.
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AEGON names Pension Network board member
NETHERLANDS – AEGON has appointed Martijn Tans to the management board of the AEGON Pension Network.
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Pension funds buy Austria’s RZB hybrid bond
AUSTRIA – International pension funds were among the buyers in a €500m hybrid bond sale by RZB, an Austrian co-operative bank that has aggressively expanded its business in central- and eastern Europe (CEE).
