Asset Managers – Page 286
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Sweden’s AP funds to meet government
SWEDEN – The six Swedish state pension buffer funds are to meet local government and financial markets minister Sven-Erik Österberg to discuss a government report on their structure.
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Agricole buys Intesa fund arm for €850m
ITALY – Italian banking group Banca Intesa and Crédit Agricole have agreed to a 12-year deal that sees their asset management arms merging into an entity which would be second in the Italian market.
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Credit Agricole AM London chief leaves
UK – Ian McEvatt, chief executive of the London branch of Crédit Agricole Asset Management is to leave and be replaced by investment chief Bruno Crastes.
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Morley to manage €145.3m for Kelda
UK - Morley Fund Management says it has been awarded a £50m (€72.6m) fixed income mandate and a £50m indirect property mandate by Kelda Group Pension Plan.
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Mellon loses $105m in sale of consulting arm
GLOBAL – Mellon Financial Corp. is selling its human resource-consulting arm for $40m (€31.9m) less than expected – resulting in a loss of more than $100m on the deal.
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Alfred Berg’s Finland MD Koskimies quits
FINLAND – Mikko Koskimies, managing director at ABN Amro’s Alfred Berg Asset Management arm in Finland, has quit with his deputy to join insurance group Pohjola.
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PensionDanmark to build apartments for rent
DENMARK - Danish industry-wide pension fund PensionDanmark is moving into residential property with a three-year programme to build apartments in three areas of Copenhagen.
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Davies to chair UK asset management association
UK – Simon Davies, chief executive of Threadneedle Asset Management, is to take over from Lindsay Tomlinson as chairman of the Investment Management Association.
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Breedon’s promotion leaves gap at LGIM
UK – Tim Breedon, group director of investments at Legal & General Investment Management, is to take over from L&G group chief executive David Prosser.
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Robeco to assist schemes in voting
NETHERLANDS - Robeco is to offer to assist its larger customers such as pension funds to influence listed companies to meet socially responsible investment criteria.
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McAlpine taps SEI for equities
UK –Alfred McAlpine Pension Trustees has awarded SEI Investments a £45.6m (€66.3m) global developed markets equity mandate.
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SGAM gains €4bn in assets
FRANCE - Société Générale’s asset management arm SGAM had net inflows of €4bn in the first quarter of 2005.
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Fortis gets OK for Luxembourg pooled LDI funds
LUXEMBOURG - Fortis Investments says it has received approval for pooled liability-driven investment funds from Luxembourg.
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Northern Trust in new pension pooling move
GLOBAL – Northern Trust says it has boosted its pension pooling offering by developing a product that allows multinational companies to “commingle” US pension assets with non-US assets.
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Citigroup fund exec joins Threadneedle
EUROPE - Peter Lindqvist, a director at Citigroup Asset Management, has joined Threadneedle Investments as head of strategic alliances.
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Equities forgotten as UK schemes shift €58bn
UK – Equities are becoming the “forgotten asset class” as UK pension schemes shifted £40bn (€58.3bn) out of stocks into bonds last year.
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Pensions directive at risk amid German vote
GERMANY - Germany could miss the deadline for transposing the directive on occupational pensions if early elections take place, pension experts say.
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GSAM names Curtis head of sub-advisory
UK - Goldman Sachs Asset Management has appointed Merrill Lynch’s David Curtis to the new role of head of sub-advisory.
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Watson Wyatt names German investment head
GERMANY - Watson Wyatt’s Munich office has hired a senior manager from investment consulting firm FERI to head its German investment consulting team. (Updates with Watson comment.)
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Deutsche CEO hails pension fund investors
GERMANY – Josef Ackermann, chief executive of Deutsche Bank, has highlighted the role played by the bank’s owners such as pension funds.
