Asset Managers – Page 271
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20% of UK schemes invest in hedge funds - NAPF
UK – Around one in five large UK pension funds have some exposure to hedge funds, the National Association of Pension Funds says.
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Petroleum Fund funds seven new mandates
NORWAY – The NOK1.28trn (€161.3bn) Petroleum Fund transferred capital into two fixed income and five equity mandates in the third quarter.
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Uncertainty over BaFin real estate stress tests
GERMANY – BaFin, the German financial services regulator, has yet to make a decision on whether to include real estate investments in the so-called “stress tests” that it requires German lifer insurers and insurance-tied pension funds to undergo.
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SEI sees 25% European growth
EUROPE – SEI, the US-based multi-manager fund provider, expects to grow its business in Europe by 25% annually, with nearly all of that growth taking place in the UK, its managing director for Europe says.
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Julius Baer facing client attrition – Moody’s
SWITZERLAND – Bank Julius Baer & Co. could be facing client “attrition” as it seeks to absorb the three Swiss banks and the GAM arm it is buying from UBS, Moody’s Investors Service says.
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Hermes’ Watson to join Witan Investment Trust
UK – Tony Watson, outgoing chief executive at Hermes Pensions Management, is to join the £1.4bn (€2bn) Witan Investment Trust as a non-executive director.
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Allianz Global Investors names top execs
EUROPE - Allianz Global Investors has made some senior appointments as it unveils its new European subsidiary.
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Bank of NY names European pensions head
EUROPE - The Bank of New York has named Robert Darmanin as head of European custody and pensions, taking over from Richard Beaven who has left the company.
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DeAM sees German pension market growth
GERMANY – Deutsche Asset Management has predicted that the German market for occupational and private pensions will expand to around €5trn in 2030 – or five times the current volume.
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Demand for Germany’s Riester pensions surges
GERMANY – Demand for the Riester-Rente, a government-subsidised private pension launched in 2002, has increased dramatically this year, the German finance ministry has reported.
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Dutch employers critical of portability plan
NETHERLANDS – Dutch employers organisation VNO-NCW has criticised the European Commission’s proposed directive on pensions portability – saying it could threaten the Dutch pension system.
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Majedie to develop new fund business
UK – Majedie Investments, the backer of the UK equity boutique Majedie Asset Management founded by former Mercury executives, is looking at developing a new fund management business.
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Oslo Sporveier transfers €250m scheme
NORWAY – Oslo’s municipal public transport provider Oslo Sporveier has transferred its NOK2bn (€253.6m) pension scheme to Storebrand.
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Spezialfonds gain €33bn inflow, BVI says
GERMANY – Investor inflows to German institutional funds (Spezialfonds) totalled €33bn in the year to September 30, bringing the total volume of these funds to €613bn, according to German fund industry association BVI.
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Pictet names Northern Europe sales chief
EUROPE – Gerrit Van Gorp, former senior director and head of credit derivatives at Dow Jones Indexes, has been appointed by Pictet Asset Management to be its new head of business development for Northern Europe.
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CalPERS still searching for permanent CIO
US – CalPERS is still looking for a permanent replacement for Mark Anson, the chief investment officer who is leaving to join Hermes as chief executive.
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IMA says pension pooling at stalemate
UK – The Investment Management Association says pension pooling is stuck in “something of a stalemate”.
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Achmea taps F&C for shareholder engagement
NETHERLANDS - Eureko's Achmea has signed up for F&C's Asset Management's shareholder engagement programme for €1.5bn in assets under management.
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Laurus axes ABN Amro Mellon in revamp
NETHERLANDS – Dutch food retailer Laurus has awarded a €400m custody and transition management mandate to Northern Trust, resulting in a loss for incumbent ABN Amro Mellon.
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Institutions pull €1.8bn from Schroders
UK – Schroders plc says it lost a net £1.2bn (€1.78bn) in institutional assets under management in the three months to the end of September – although asset management profit and revenue were both up.
