Asset Managers – Page 273
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News
Ex-Mercer partner appointed Hewitt consultant
UK – Hewitt Associates has hired former Mercer HRC European partner Jonathan Gainsford as consultant at the group’s UK retirement business practice.
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Cominvest gets new chief executive
GERMANY – Commerzbank has created a new management board for its asset management division and named a new chief executive for German fund arm Cominvest in a bid to revive the division’s sagging fortunes.
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Lloyd’s taps AEGON for bond brief
UK – The Lloyd’s Superannuation Fund – part of Lloyd’s of London - has awarded an £185m (€271m) fixed income mandate to AEGON Asset Management UK.
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SSGA assets rise 14% to $1.4trn
GLOBAL - Total assets under management at State Street Global Advisors have risen 14% to $1.4trn (€1.17bn), parent State Street Corp. said.
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Icelandic pension fund consolidation continues
ICELAND - Two regional Icelandic pension funds are close to finalising a €500m merger agreement.
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New Dutch postal fund to be set up
NETHERLANDS - Dutch postal operator TNT is to set up a new career-average pension fund for around 20,000 post deliverers.
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IPE's Hurst wins SSGA fund management award
EUROPE - Martin Hurst, Features Writer at IPE Magazine, has won the Best Fund Management Trade Journalist award at State Street Global Advisors' annual UK institutional press awards.
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Row erupts over German master funds
GERMANY – The head of investments at German insurer VHV has blasted German master funds, saying they haven’t delivered on their promises.
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ABN Amro names new asset management CEO
GLOBAL – ABN Amro has named Sarah Russell, an Australian who joined the bank in 1994, as chief executive of its asset management division.
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Watson Wyatt seeking manager researchers
UK – Consulting firm Watson Wyatt has advertised job vacancies for manager researchers, based in Reigate or London.
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Commission set to present portability directive
EUROPE – The European Commission is set to approve a delayed occupational pensions portability directive on October 20 - yet the document has already drawn fire from Germany’s occupational pensions lobby Aba.
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Watson Wyatt makes three Dutch hires
NETHERLANDS – Watson Wyatt has hired three new staff for its “rapidly expanding” investment consulting team in the Netherlands.
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Mellon Global names Austria, Swiss sales chief
EUROPE – US asset manager Mellon Global Investments has hired Rainer Lenzin from Lehman Brothers in Zurich to be its new vice president for fund sales in Austria and Switzerland.
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European pension funds sue News Corp.
GLOBAL – Major European pension institutions such as ABP, USS and Hermes are among a group of institutional investors which have launched a lawsuit against Rupert Murdoch’s News Corp. over a poison pill arrangement.
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Germany: Aventis scheme in €800m FX move
GERMANY – Aventis Pensionstreuhand, the €1.9bn pension fund for pharmaceuticals giant Sanofi-Aventis, has awarded State Street Global Advisors an €800m currency overlay mandate.
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US-based Principal to open Munich branch
GERMANY – US fixed-income specialist Principal Global Investors plans to open a branch in Munich from January 2006.
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Volvo Dutch scheme outsources to MN Services
NETHERLANDS – Stichting Pensioenfonds Volvo Car BV (VCBV) has agreed to outsource the management of a third of its total investment portfolio (€200m) to MN Services – the fund’s new fiduciary manager.
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Dutch SCGOP changes name and chairman
NETHERLANDS – The Dutch Foundation of Corporate Governance Research for Pension Funds, or SCGOP, has changed its name and plans to widen its membership.
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Robeco names DNB’s Hoogduin as chief economist
NETHERLANDS – Robeco, the asset management arm of Rabobank, has named De Nederlandsche Bank’s Lex Hoogduin to succeed Jaap van Duijn as chief economist.
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Railpen chief resisting flight to bonds
UK – Chris Hitchen, chief executive of the £15.5bn (€23bn) Railways Pension Trustee Co., Railpen, says that pension schemes’ shift to fixed income was an “overreaction”.
