Asset Managers – Page 269
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News
Vanguard committed to Europe despite departures
NETHERLANDS – Vanguard said it remains committed to its European institutional business despite a number of executive departures.
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Dutch governance body Eumedion launches
NETHERLANDS - The corporate governance forum Eumedion – formerly known as SCGOP – has started under its new name with nine new members.
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Sampo consolidates Baltic pension operations
BALTIC – Finland's Sampo group has consolidated its life and pensions operations in the Baltic region.
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Delta Lloyd’s Bostanci wins IPE/AIMSE scholarship
GLOBAL - The 2005 IPE/AIMSE Scholarship has gone to Sibel Bostanci, head of institutional sales at investment management firm Delta Lloyd in Germany.
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F&C puts 2005 asset outflows at €11.5bn
UK - F&C Asset Management expects to post net asset outflows of around £7.8bn (€11.5bn) in 2005 – excluding the previously announced €20bn insurance withdrawals.
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Cordares-ASW merger set for January
NETHERLANDS - The Dutch construction industry pensions providers Cordares and ASW say they will complete their previously announced merger as of January 1.
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Horeca moves into commodities
NETHERLANDS - Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering scheme, has awarded a passive commodities mandate to Western Asset Management.
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Fiduciary Trust in management reshuffle
GLOBAL – Anne Tatlock is to retire as chairman and chief executive at Franklin Resources’ Fiduciary Trust Co. in the autumn of 2006.
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Bank of Ireland buys into alternatives group
IRELAND – The Bank of Ireland has agreed to buy more than 70% of US hedge fund group Guggenheim for €154m.
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Unilever sets up €5bn asset pooling vehicle
EUROPE – Consumer products group Unilever has set up a pension asset pooling vehicle called Univest which could grow to around €3-5bn in size.
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Allianz’s DEGI cuts German real estate holdings
GERMANY – Real estate fund provider DEGI plans to cut the German holdings of its core German fund, after the fund was hit by €271.5m in net outflows in the first 11 months of this year.
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Thomas named president of Morgan Stanley IM
GLOBAL – Owen Thomas has been named as president of Morgan Stanley Investment Management, taking over a role vacated by Mitchell Merin in September.
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Germany’s FERI to expand into Switzerland
GERMANY – FERI Institutional Advisors plans to break into the Swiss institutional market sometime in 2006, according to Arnd Thorn, who took over as FIA’s chief executive last August.
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IPE-QUEST: Nordic bank seeks sub advisor
NORDIC – A Nordic bank has tendered an initial $80m sub- advisory mandate via IPE-Quest.
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Goldman Sachs AM gets $8bn inflow in quarter
GLOBAL – Goldman Sachs Asset Management had a net asset inflow of $8bn (€6.7bn) in the fourth quarter of 2005 – taking its total inflows in the year to $63bn.
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Fidelity setting up multi-manager business
UK – Fidelity Investments is setting up a multi-manager business that will eventually offer manager of managers services.
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EFAMA names UK’s Trenchard as director general
EUROPE – European investment fund association EFAMA has named the UK’s Viscount Hugh Trenchard as its new director general.
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Purchase boosts Morningstar investment consulting
US – Investment research firm Morningstar says its $83m (€69.6m) cash acquisition of asset allocation firm Ibbotson will boost its investment consulting business.
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DeAM, Trinkaus in running for Henkel CTA
GERMANY – Industry sources say Deutsche Asset Management and HSBC’s Trinkhaus Capital Management may be in line to advise chemicals firm Henkel on its planned contractual trust arrangement – an external fund to finance more than €1bn in pension liabilities.
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CalSTRS in $3bn emerging market move
GLOBAL – California teaching pension fund CalSTRS has picked five asset managers to run around $3bn (€2.5bn) of emerging markets assets.
