Asset Managers – Page 261
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Legg Mason names Hirschmann as president
GLOBAL - James Hirschmann, chief executive of Legg Mason’s Western Asset Management arm, has been named president of Legg Mason itself.
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OECD wants derivatives rules for pension funds
GLOBAL – The Organisation for Economic Cooperation and Development has called for strict limits, if not outright prohibition, on pension funds’ use of derivatives with the potential for unlimited commitments.
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Germany’s MAN awards pension custody brief
GERMANY – MAN has hired BNP Paribas as the global custodian for its contractual trust arrangement (CTA) – an external fund the engineering group set up last summer to finance pension liabilities.
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Allianz’s Faber critical of investment banks
GLOBAL – Joachim Faber, chief executive of Allianz Global Investors, has hit out at investment banks targeting pension fund trustees.
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Irish regulator pulls plug on hedge fund
IRELAND – The Irish financial watchdog has ordered Dublin-domiciled hedge fund group Broadstone Fund Management to cease due to “serious regulatory issues”.
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Ex-Robeco CIO Vriezen to run C&A assets
NETHERLANDS - The former chief investment officer of Robeco, Marnix Vriezen, has taken over the management of the €1bn assets of the pension fund of C&A Nederland, the Dutch arm of the international clothes retailer.
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MEPs reject UCITS for pension directive
EUROPE – Members of the European Parliament’s economic and monetary affairs committee have voted against proposals to bring UCITS investment funds within the scope of the directive on occupational pension funds.
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De Eendragt scheme becomes life insurer
NETHERLANDS – Dutch corporate pension fund Stichting Pensioenfonds De Eendragt has changed to a life insurance company called De Eendragt Pensioen NV with more than €950m in total assets under management.
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IPE-QUEST: Three new searches on system
GLOBAL – There are three new searches - for large-cap core equities, developed markets large or all-cap equities and EAFE large-cap or all-cap value – on IPE-Quest.
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PGGM puts €500m into de Mol TMT fund
NETHERLANDS – Dutch healthcare pension fund PGGM has invested €500m in a technology, media and telecoms fund linked with Big Brother TV magnate John de Mol.
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Robeco nabs Achmea’s van den Broek
NETHERLANDS – Robeco Asset Management has appointed Achmea’s Reinoud van den Broek as institutional sales chief from May 1.
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OECD to unveil pension management principles
GLOBAL – The Organisation for Economic Cooperation and Development is set to unveil a five-point guideline for pension fund asset management tomorrow (March 21).
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Mellon names analytical solutions global director
GLOBAL – Mellon Financial Corp. has named Bruce Feibel as global director of Mellon Analytical Solutions, the former Russell/Mellon joint venture.
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Dutch metals fund PMT in real estate purchase
NETHERLANDS – MN Services has bought 29 apartments in Rotterdam on behalf of its owner, the €20bn metalworkers’ scheme Pensioenfonds Metaal en Techniek.
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German boutique Lupus opens Vienna office
AUSTRIA – Lupus alpha, a Frankfurt-based asset management boutique, has opened a new sales office in Vienna as part of a push into the Austrian institutional market.
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PGGM in investment management software move
NETHERLANDS – PGGM, the €70bn Dutch health care pension fund, has signed a contract to use investment management software from Denmark’s SimCorp.
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Allianz hails pension, asset management demand
EUROPE – Insurance giant Allianz has attributed continued strong demand for its pension and asset management products for a double-digit increase in earnings during 2005.
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T. Rowe names Kennedy CEO as Roche retires
US – Asset management firm T. Rowe Price Group has named equities chief James Kennedy to be its new president and chief executive when George Roche retires.
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Merrill European pension group head moves on
EUROPE – Dawid Konotey-Ahulu, head of Merrill Lynch’s European pensions and insurance group, is to set up his own firm.
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Call for UCITS to come under pension directive
EUROPE – Othmar Karas, the Austrian MEP who was the rapporteur for the occupational pension fund directive, has proposed bringing UCITS investment funds within the directive’s scope.
