Asset Managers – Page 276
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News
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.
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SEB winning new institutional mandates
SWEDEN – Swedish financial services provider SEB has secured several new institutional mandates and achieved “greater market clout” in Germany, its interim report released today revealed.
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Aberdeen AM distributor eyes Libya
EUROPE – A joint venture partner of Aberdeen Asset Management is in dealings with the Gaddafi regime in Libya, it has emerged.
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PIMCO says it wins Irish mandates
IRELAND – Fixed income manager PIMCO Europe says it has been awarded two mandates – one worth €60m – from the Unilever Superannuation Fund and the Allianz Group Pension Scheme.
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Janus names new CEO amid inflows
GLOBAL - Janus Capital has named investment head Gary Black to take over from chief executive Steve Scheid amid a recovery in asset inflows.
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SAM appoints new global marketing head
SWITZERLAND – Swiss sustainable asset management company SAM has appointed Eric Gelfgren as global head of marketing and sales.
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GSAM consultant chief named as MD
EUROPE – Goldman Sachs Asset Management’s European consultant relations head Paul Richards has been promoted to managing director level at the firm.
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Universal sees slow demand for multi-management
GERMANY - Demand for multi-manager funds in Germany remains sluggish, partly because institutions want to influence the way their assets are invested, says Universal-Investment.
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UK pension buy-out growth inevitable – regulator
UK – More competition in the UK pension buy-out market is inevitable, says the Pensions Regulator.
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Mn Services eyes European, UK expansion
EUROPE – Dutch pension group Mn Services is considering expanding out of its home market – possibly into the UK and elsewhere in Europe.
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Schering puts extra €450m into external fund
GERMANY – Pharmaceuticals company Schering has removed another €450m in pension liabilities from its balance sheet so that they can be financed by its contractural trust arrangement (CTA).
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T. Rowe's vice chairman Riepe to retire
GLOBAL - Jim Riepe is to retire as vice chairman of asset management firm T. Rowe Price - with his responsibilities shifting to Edward Bernard.
