Asset Managers – Page 267
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JP Morgan shuts German master fund
GERMANY – US bank JP Morgan has confirmed that it is closing down its German ‘master fund’ business more than three years after launching it.
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Rauser Towers Perrin advises DZ Bank
GERMANY – Consulting firm Rauser Towers Perrin is advising Germany’s DZ Bank on the construction of an external fund, known as a contractual trust arrangement (CTA), for €1bn in pension liabilities, industry sources say.
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Investec appoints Hau in German sales
GERMANY – Investec Asset Management has appointed former Bank of Ireland Asset Management Europe head Robert Hau as senior salesperson in Germany.
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Goldmans launching 35 new UCITS III funds
UK/LUXEMBOURG – Thirty-five new investment funds have been announced by Goldman Sachs Asset Management (GSAM). Fourteen of the funds will be launched in the next three months, with the rest “subject to client demand”.
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SVM expands into Europe
UK – SVM Asset Management, the boutique Edinburgh based independent fund management group, is looking to increase its European institutional business following a year of strong performance in European equities.
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IMA back office rules to reduce processing costs
UK - New IMA fund processing guidelines have been published to help UK investment management firms reduce risk and cost.
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ABN Amro appoints EAFE chief
UK – ABN Amro Asset Management has appointed Andrew King as the new head of Europe, Australasia and Far East (EAFE) portfolio management and head of North American equities.
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Harcourt Partners changes name
SWITZERLAND – Harcourt Partners SA, a Geneva-based fund of hedge funds boutique, has changed its name to Peak Partners.
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Zurhorst joins SWIP from DrKW
EUROPE – Scottish Widows Investment Partnership (SWIP), the asset management arm of the Lloyds TSB group, has named Peter Zurhorst as head of its business in northern Europe with specific responsibility for expanding institutional business in Germany.
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SAM names chief executive
UK - Syndicate Asset Management (SAM), the £1.3bn (€1.9bn) AIM-quoted fund specialist group, has appointed Michael Campbell-Birkett as group chief executive officer with immediate effect.
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KAS pockets €9m from exchange appreciations
NETHERLANDS – KAS Bank’s shareholdings in the London Stock Exchange, Euronext and Deutsche Börse appreciated more than €9m in the second half of 2005 to reach €25m at year end.
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Lincolnshire County scheme tenders equities
UK – The £1.1bn (€1.6bn) Lincolnshire County Council Pension Fund has launched a tender process for a global active equity manager, putting incumbent manager Bank of Ireland Asset Management under the spotlight.
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HFR’s Europe chief Godden leaves
EUROPE – John Godden, managing director of Hedge Fund Research’s European asset management arm, has left the company.
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Dutch schemes sue Shell over reserves
NETHERLANDS – Stichting Pensioenfonds ABP, the Dutch civil service fund, is leading a group of 26 funds in a class action lawsuit against Royal Dutch Shell over the oil giant’s reserves scandal.
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UK asset management jobs set to rise - CBI
UK – Bullish expectations mean employment numbers across the fund management industry look set to increase even further in the next quarter, according to the CBI and PricewaterhouseCoopers quarterly Financial Services Survey.
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MN Services names Mutsaers to board
NETHERLANDS – Dutch fiduciary manager MN Services has appointed Walter Mutsaers to its management board from 1 February 2006.
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Nobel laureate Merton says LDI “ill-conceived”
GLOBAL – Nobel Prize-winning economist Robert Merton has said immunizing pension obligations through liability driven investment strategies is “ill-conceived”.
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Nestlé fund axes Capital International
IRELAND – Robusta, the vehicle for Nestlé’s small to medium sized investments, has replaced investment managers Capital International and Dresdner RCM Global Investors Asia with Alliance Capital Management.
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Managers, strategy under scrutiny at Co-Op
UK – The Co-operative Group’s decision to shut its final salary scheme and create a single £4.7bn (€6.8bn) career-average salary fund will put both investment strategy and fund managers under review if trustees formally approve the change.
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NIB Capital’s Tielman joins Cordares
NETHERLANDS – Jeroen Tielman, the founder of FundPartners and the current director of pension business development at NIBC Bank, is to join pension management firm Cordares in a senior role.
