Asset Managers – Page 279
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Mellon eyes stake in WestAM – FT
GERMANY – Mellon Financial Corp. is considering taking up to a 50% stake in WestAM, a German institutional fund provider that specialises in fixed income, according to the Financial Times.
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Norway’s Kvaerner embroiled in UK pension row
UK – Norwegian industrial holding group Kvaerner ASA has become embroiled in a row over its relationship to the Kvaerner Pension Fund (KPF), the UK pension plan of the former Trafalgar House.
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Netherlands’ Bouwend awards admin to NN
NETHERLANDS - Construction sector organisation Bouwend Nederland has awarded a pension administration contract to ING Group’s Nationale Nederlanden.
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Achmea looking to boost profits ahead of merger
NETHERLANDS – Pension common management firm Achmea is undergoing a “commercial vitality project” ahead of its merger with Interpolis.
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GSAM says it wins €785m from local authorities
UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.
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Threadneedle names Nordic distribution head
NORDIC – Threadneedle Investments has named Thomas Berglund as head of Nordic distribution, responsible for the developing the firm’s business in Sweden, Norway, Denmark and Finland.
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JP Morgan AM names Switzerland head
SWITZERLAND - JP Morgan Asset Management has appointed BZ Bank’s chief executive, Roland Vogel, as country head for Switzerland.
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Greek pension strikers clash with police
GREECE – Greek bank workers have clashed with police during a strike about pensions, according to a union official.
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Pioneer taps Morley's Yiannakou for institutions
UK - Pioneer Investments has hired Morley Fund Management's Chris Yiannakou as consultant relations manager as it seeks to boost its institutional business.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Skandia hands €500m equities brief to NTGI
SWEDEN – Skandia Liv has handed a €500m passive international equities mandate to Northern Trust Global Investments.
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Schroders has €2.9bn institutional outflow
UK – Schroders has continued to lose institutional assets, with a £2bn (€2.9bn) net outflow in the first half of 2005.
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Dutch experts at odds over average premiums
NETHERLANDS - Abandoning the average pension premiums will threaten rather than improve the Dutch pensions system, says the director of the Association of Industry-wide Pension Funds, or VB.
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Reuters awards custody to Bank of NY in revamp
UK - The £650m (€953m) Reuters Pension Fund, the main UK scheme of the news and data group, has awarded a custody mandate to the Bank of New York after a revamp.
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Florida awards $113bn master custody to Mellon
US – Florida’s State Board of Administration has awarded a $113bn (€91.7bn) master custody mandate to Mellon Global Securities Services.
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Delta Lloyd hit by €240m mandate loss
NETHERLANDS – Delta Lloyd says its flow of new investments “fell back” in the first half – partly due to the withdrawal of a €240m mandate.
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Swiss Capital awards custody to Northern Trust
SWITZERLAND – Swiss Capital, a Zurich-based alternatives firm which manages pension fund assets, has handed a $1.2bn (€1bn) hedge fund custody and administration mandate to Northern Trust.
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ING IM plans European multi-manager launch
EUROPE - ING Investment Management is pushing forward with the launch of its multi-manager programme in Europe, scheduled for later this year.
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Julius Baer institutional assets up €5.8bn
SWITZERLAND - The Julius Baer Group says it gained CHF9bn (€5.8bn) in institutional assets under management in the first half of 2005.
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Allianz says EU pension assets to double
EUROPE – Germany’s Allianz says it is targeting retirement provision and that it expects pension assets in Europe to more than double in the next 10 years.
