Asset Managers – Page 272
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Bond switch could cut UK profits – consultant
UK – A wholesale shift by pension funds away from equities to bonds prompted by liability-driven investing could cut UK corporate profits by billions of pounds, according to consulting firm Pension Advisor Review.
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Former Watson partner Hill joins Investit
UK - Former Watson Wyatt partner Brian Hill has joined fund management consultancy Investit as a specialist.
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Allianz “won’t stand still” in asset management
GERMANY – Allianz says it “won’t stand still” in asset management and is targeting a 10% increase in profit in the area.
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Nestlé seeks pensions risk manager
UK – Nestlé is looking for a risk manager with experience in hedge funds to offer services, including the management of assets and liabilities, to its pension funds.
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ING’s Central Europe pension assets surge
EUROPE – Dutch banking group ING’s pension fund assets in Central Europe have risen by more than 32% to almost €7bn.
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Schroders appoints new deputy CFO
UK – Schroder Investment Management has appointed Dresdner Kleinwort Wasserstein finance head Stephen Brooks as group financial controller and deputy CFO.
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BGI looking for equity CIO as Annable exits
GLOBAL – Matthew Annable, European chief investment officer for active equities at Barclays Global Investors, is to leave next year in a “lifestyle change” – but his successor has not yet been chosen.
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€24bn UN pension fund ‘reviewing strategy’
GLOBAL – The $29bn (€24.7bn) United Nations pension fund may be reviewing its investment strategy to bring it more in line with the body’s humanitarian-based mission and objectives.
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Fortis Investments names Poland sales head
POLAND – Fortis Investments has named Grzegorz Swietlik as its new head of sales for Poland.
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Aegon’s Lommen joins Dutch supervisor DNB
NETHERLANDS - Former Aegon pensions co-ordinator Jacqueline Lommen has joined De Nederlandsche Bank, the central bank which supervises pensions.
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Buckingham cuts Capital mandate in revamp
UK – The £874m (€1.3bn) Buckinghamshire Pension Fund has cut Capital International’s equities mandate by just over 20% due to poor performance results, and appointed five new fund managers.
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Activism at work as VNU reviews IMS deal
NETHERLANDS – Shareholder activism by pension funds appears to be a factor in VNU’s decision today to review its planned $6.3bn (€5.2bn) merger with IMS health.
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EFRP welcomes two new Italian members
EUROPE – Italy’s industry-wide occupational pension fund association, Assofondipensione, and the Italian asset management association, Assogestioni, will join the European Federation for Retirement Provision (EFRP) as full members on 1 January 2006.
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New Study assesses cross-border value
EUROPE - European and US asset managers view the establishment of local marketing offices in other countries as an expensive but effective option for cross-border selling, according to a new study.
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Double defection blow for PGGM
NETHERLANDS – In a double blow for Dutch healthcare fund PGGM, two senior executives are defecting to Merchant Bank NIBCapital on 1 January 2006.
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JPMorgan AM names new institutional head
EUROPE – JPMorgan Asset Management (JPMAM) has named Jens Schmitt as head of institutional business in Europe, replacing Peter Schwicht.
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BHW Invest sold to Postbank
GERMANY - BHW Invest, a German institutional fund administrator, has confirmed that it is now partially owned by retail banking giant Postbank.
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UBS institutional invested assets surge 24%
GLOBAL – UBS’ third-quarter results reported an annual 24% surge in institutional invested assets under global asset management to CHF425bn (€290.9bn).
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F&C ends outsourcing project with Mellon
UK – London-based F&C Asset Management has discontinued its project to outsource the former ISIS Asset Management operational functions to Mellon Financial Services. This followed a failure to agree “satisfactory contractual terms”, a statement said.
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Hermes chooses Ortec ALM system
NETHERLANDS -- Hermes Investment Management has chosen consultancy and software developer Ortec as supplier of its asset liability management system, the Dutch company has announced.
