Asset Managers – Page 264
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Pension funds buy into Clariant bond issue
SWITZERLAND – A significant amount of pension fund money went into Swiss chemical firm Clariant’s new UK-listed seven-year €600m Eurobond.
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Munich Re’s MEAG rolls out new funds
GERMANY – MEAG, the asset management arm of German re-insurance giant Munich Re, has confirmed the rollout of four new “i-shares” - mutual funds targeted exclusively at institutional investors.
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Pensions conference glut claims first victim
EUROPE – An unusual convergence of pensions and investment industry conferences on Tuesday April 25 has claimed its first victim: Credit Suisse.
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Cordares sets up pension product for new union
NETHERLANDS – Cordares is to create a new individual and ‘user-friendly’ pension planning product for the new union for Dutch self-employed people.
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UK’s Co-op seals €7.2bn pension fund merger
UK – The Co-operative Group has decided to shut its final salary scheme and merge its existing schemes into a single roughly £5bn (€7.2bn) career average salary fund.
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Institutions pull €3bn from Robeco
NETHERLANDS – Robeco, the asset management arm of Dutch bank Rabobank, had a €3bn outflow of institutional assets in 2005.
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Schemes may shift to shorter-dated bonds - UBS
GLOBAL – UBS reckons one effect of demographic ageing may be that pension funds will move into bonds – and at shorter maturities - as members get older.
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Pension Commission still getting mixed responses
UK – The ball’s in the government’s court now that the long-running saga of the Pensions Commission – it’s just released its third report – has come to an end.
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Swedish watchdog wants more provider flexibility
SWEDEN - The Swedish Financial Supervisory Authority Finansinspektionen has called for all private pension savers in Sweden to have the right to move their pension savings between pension providers.
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TKP Investments names van Wijk as CIO
NETHERLANDS – TKP Investments has named SNS Asset Management research chief Roelie van Wijk as chief executive, chief investment officer and president of the investment board.
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Waygood to chair UK Social Investment Forum
UK – Steve Waygood, director for investor responsibility at Insight Investment, has been appointed chairman of the UK Social Investment Forum, which promotes SRI among UK investors.
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ABN Amro AM considers “bolt-on” acquisitions
GLOBAL – ABN Amro says it will consider “bolt-on” asset management acquisitions.
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Icelandic schemes not fazed by market 'blip'
ICELAND – Pension funds in Iceland have shrugged off the turbulence affecting domestic financial markets, with one industry commentator calling the situation a “blip on the screen”.
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Norgrove rejects pension-bond yield ‘bubble’
UK – David Norgrove, the chairman of the Pensions Regulator, has rejected the idea that there is a bubble in gilts caused by pension fund demand.
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UN scheme looks to hire chief risk officer
GLOBAL – The in-house investment management firm of the $32bn (€26.5bn) United Nations Joint Staff Pension Fund (UNJSPF) is looking to appoint a chief risk officer, and a senior investment officer to its alternative investment portfolio.
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NBIM gets €150m for running Norway fund
NORWAY – Norges Bank Investment Management is to receive NOK1.2bn (€150m) for running the Government Pension Fund – Global in 2005.
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Ex-AP2 investment chief explains resignation
SWEDEN – Petter Odhnoff has given IPE an account of the events leading up to his decision to quit yesterday as chief investment officer of the SEK190.6bn (€20.5bn) AP2 fund.
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DekaBank sets up €222m pension CTA
GERMANY – DekaBank, the asset management arm of Germany’s state-owned savings banks (Sparkassen), has set up a contractual trust arrangement (CTA) for €222m in pension liabilities.
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Henderson loses out at Barnet, LPFA
UK – Henderson Global Investors has been axed as investment manager by two separate funds in a matter of days, amounting to a total loss of more than £450m (€647m).
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AP2 investment chief resigns in tax probe
SWEDEN – Petter Odhnoff, chief investment officer of the SEK190.6bn (€20.5bn) Second Swedish National Pension Fund or AP2 has quit amidst allegations of tax irregularities following an audit conducted by the Swedish tax authorities.
