Asset Managers – Page 278
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News
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”.
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IXIS Asset Management names Leroux as CIO
FRANCE – IXIS Asset Management has named SCOR Asset Management’s Véronique Leroux as its new chief investment officer.
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MN Services’ Rademaker quits to join Kempen
NETHERLANDS – MN Services’ managing director of asset management, Hans Rademaker, is leaving to become managing director of fiduciary management at Kempen & Co.
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Foreign managers gain in Dutch pension market
NETHERLANDS - Foreign asset managers have gained in the €528bn Dutch pensions market, according to consulting firm Bureau Bosch.
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Helaba rules out German multi-manager fund
GERMANY - Helaba Northern Trust, the asset management venture between German Landesbank Helaba and US bank Northern Trust, has, for the time being, ruled out launching a multi-manager fund for the German institutional market.
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Coats awards €2.2bn actuarial brief to Mercer
GLOBAL – Textile firm Coats has named Mercer Human Resource Consulting as global actuary covering £1.5bn (€2.2bn) of pension assets.
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IPE-QUEST: Four new searches on system
GLOBAL – Four new searches, from pension funds in Switzerland, Denmark and Europe, have been tendered via IPE-QUEST.
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Workers ‘losing out’ in Irish building scheme
IRELAND – A report by consulting firm Mercer has found that workers in the Irish construction industry are losing out on benefits due to a loophole.
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IXIS AM set to name new CIO
FRANCE – IXIS Asset Management is set to announce the appointment of a new chief investment officer and general secretary next week, IPE has learnt.
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Study queries pension fund-low yield link
GLOBAL – A new academic study has questioned the notion that pension funds shifting into bonds will inevitably lead to long-term low bond yields.
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AP4 follows AP2 in rejecting Skandia bid
SWEDEN – The SEK138bn (€14.7bn) Fjärde AP-fonden, the Fourth Swedish National Pension Fund or AP4, has followed its sister fund AP2 in rejecting Old Mutual’s bid for insurance firm Skandia.
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UK: exodus at DeAM as Aberdeen deal closes
UK – Senior staff have already left or are set to leave Deutsche Bank’s former UK asset management operation this Friday following its acquisition by Aberdeen Asset Management.
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ABN Amro names European consultant head
EUROPE - ABN Amro Asset Management has named Henderson's Deborah Harris to the new role of European head of consultant relationships.
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AP2 says Skandia needs “peace and quiet”
SWEDEN – Andra AP-fonden, the Second Swedish National Pension/AP2, has waded into the bid for Skandia by Old Mutual, saying the Swedish insurer needs a period of “peace and quiet”.
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Barclays Global Investors ousts co-CEO Skirton
UK – Andrew Skirton, co-chief executive of Barclays Global Investors, has been ousted in a management shake-up.
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DeAM unveils German multi-manager funds
GERMANY - Deutsche Asset Management has rolled out the first of two multi-manager funds for the German-speaking institutional market, yet no longer believes demand for the funds will be as robust as previously estimated.
