Asset Managers – Page 287
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Deutsche revamps Swiss asset management
SWITZERLAND - Deutsche Bank has revamped the executive team at its Swiss asset management divisions DWS and Deutsche Asset Management.
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ABP-backed fund buys into Dutch utility
NETHERLANDS – Macquarie Bank’s European infrastructure fund, which is backed by institutional investors such as Dutch pension fund ABP, has agreed to buy a 49% stake in utilities group NRE Holding for around €80m.
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Dutch building fund changes name, seeks clients
NETHERLANDS - The Dutch social fund for the building industry, or SFB, has changed its name and says it will intensify its efforts in finding new clients.
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Germany’s DekaBank in pensions consulting tie
GERMANY – Fund manager DekaBank has formed a joint venture with Neuburger & Partner, a Munich-based actuarial and pensions consultancy, to provide pensions consulting to German institutional clients.
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Pension funds pull €1.6bn from Liontrust
UK – Pension funds pulled £1.1bn (€1.6bn) from equity specialist Liontrust Asset Management in the year to the end of March – hit by a move towards hedge funds.
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European personal pension account proposed
EUROPE – Investment fund association EFAMA has proposed a European personal pensions account to ease cross-border portability of pension rights.
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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.
