Asset Managers – Page 274
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PIMCO boosts its Swiss team
SWITZERLAND – Specialist fixed-income manager PIMCO has appointed Joachim Suter to the position of Swiss head of institutional business development.
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Levensloop for self-employed reconsidered
NETHERLANDS – Dutch Social Affairs minister Aart Jan de Geus is again to look at the possibilities of creating a ‘levensloop’, or life course, scheme for the self-employed.
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KarstadtQuelle denies pension trust report
GERMANY – KarstadtQuelle, Germany’s second-biggest retailer, has denied that it is tapping its own contractual trust arrangement (CTA) for €200m in capital to reduce long-term debt.
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MSIM hires ex-GSAM European equities co-CIO
EUROPE - Hywel George, former co-chief investment officer of European equities at Goldman Sachs Asset Management, has joined rival Morgan Stanley Investment Management.
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UK calls for national pension scheme proposals
UK – UK pensions minister Stephen Timms today challenged the industry to come up with an alternative model to the National Pensions Saving Scheme outlined in last week’s Turner Report.
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PGGM consortium buys €1bn real estate portfolio
NETHERLANDS – Dutch health care fund PGGM is part of a consortium that is buying retailer Vendex KBB’s real estate portfolio in a sale-and-lease-back agreement.
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Dutch experts split over pensions body
NETHERLANDS -- Opinion on the need for a specialised Dutch pensions ministry is sharply divided.
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Lloyd’s scheme opts for Northern Trust
UK – The £365m (€534m) Lloyd’s Superannuation Fund has awarded an exclusive global custody and performance measurement brief to Northern Trust.
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Robeco names consultant relations head
NETHERLANDS – Robeco Asset Management, hit by a “disappointing” asset inflow in the first half, has hired a head of consultant relations.
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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.
