Asset Managers – Page 263
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Hewlett in Germany taps GSAM, SSGA
GERMANY – The pension fund for Hewlett-Packard Deutschland has awarded two fixed income mandates to Goldman Sachs Asset Management and one emerging market equity brief to State Street Global Advisors.
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Ex-Watson’s Douse sets up own firm
EUROPE - Former Watson Wyatt partner Sue Douse has opened her own specialist advisory and marketing outfit with institutional funds as its main client base.
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Dexia says it’s winning pension fund mandates
EUROPE – Institutional mandates went up 18.6% at Dexia’s asset management arm in 2005, driven in part by new mandates from pension funds.
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Henderson facing axe at Fife Council
UK – The £950m (€1.4bn) Fife Council Pension Fund has put a roughly £200m global equity mandate out to tender following a review of the scheme’s structure.
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Mercer hires three for Nordic expansion
LONDON – Mercer Investment Consulting has announced the expansion of its Nordic operations following three new senior hires.
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Norway fund beats benchmark by 1.10 points
NORWAY – The Government Pension Fund – Global returned 11.1% in 2005, 1.10 percentage points above benchmark.
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Enhanced indexers ‘still gaining assets’
SPAIN - Enhanced indexing managers are continuing to attract assets, the World Cup of Investment Management conference has been told.
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Xerox scheme taps PIMCO for LDI
UK – The roughly £1.3bn (€1.9bn) Xerox UK Final Salary Pension Scheme has awarded a £260m “cutting edge” liability-driven mandate to fixed income fund management firm, PIMCO.
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MLIM-BlackRock deal a ‘wake-up call’
GLOBAL – The recently announced deal between BlackRock and Merrill Lynch Investment Managers – and the separate Citigroup/Legg Mason tie – represent a wake-up call to the global asset management industry, according to a new report.
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Hewitt launches specialist UK DC team
UK – Hewitt Associates has formed a new consulting team to provide retirement planning and investment strategy for defined contribution pension schemes.
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Pilkington trustees in takeover ‘understanding’
UK - Trustees of the roughly £1.5bn (€2.2bn) Pilkington Superannuation Scheme have reached an ‘understanding’ with new owner Nippon Sheet Glass regarding Pilkington’s obligations to the fund following its acquisition by NSG.
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Brand name not enough – Watson’s Carter
SPAIN – A brand name is not enough to guarantee asset manager performance – it’s people that count – says Watson Wyatt’s European investment consulting head Kevin Carter.
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Lehman nabs Rubenstein for new pensions group
UK – Lehman Brothers has hired Alan Rubenstein, head of Morgan Stanley’s European pensions group, to launch a new pensions group.
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Danish funds plan joint pension service company
DENMARK – Three Danish pension groups are to form a joint company to offer member services, actuarial service, financial services and IT to other Danish labour market pension funds.
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IPE-QUEST: Danish fund tenders $100m in Japan equities
DENMARK – A Danish pension fund has tendered up to $100m (euro) in Japanese all-cap equities via IPE-Quest.
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Hermes to stand trial in Korea
KOREA – Hermes Investment Management, owned by the BT Pension Scheme, says it is to strand trial in Korea following allegations of stock price manipulation.
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DeAM global institutional head named
GLOBAL – Deutsche Bank has appointed Roelfien Kuijpers as global head of Deutsche Asset Management’s institutional business with immediate effect.
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ABP’s Munsters meets EU on clearing & settlement
EUROPE – Roderick Munsters, chief investment officer of Stichting Pensioenfonds ABP, was among a group of top European finance executives that met the European Commission to discuss clearing and settlement yesterday.
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Austrian funds returned 11.4% in 2005 - FVPK
AUSTRIA - Buoyed by strong equity markets, Austrian pension funds finished 2005 with an average return of 11.4% on assets, according to fund association FVPK.
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Ex-Siemens investment head joins Quandt venture (corrected)
GERMANY – Klaus Kirschenhofer, the former investment management head at Siemens, has been appointed managing director of a new asset management outfit for the billionaire Harald Quandt family (corrected).
