Asset Managers – Page 288
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News
Germany’s EnBW to cut managers in €3.8bn revamp
GERMANY - Energie Baden-Württemberg (EnBW), Germany’s third largest energy firm, is planning a sweeping revamp to its €3.8bn in corporate pension assets.
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DeAM declines comment on latest reports
GERMANY - Deutsche Asset Management in the UK has declined comment on a report that the asset management arms of Lloyds TSB, BNP Paribas and Old Mutual have expressed an interest in buying it.
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Corporate governance manual launched
EUROPE – The CFA Institute has launched a 55-page manual on corporate governance for investors.
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Bank of Ireland Asset Management names UK head
UK - Bank of Ireland Asset Management has named Olivier Santamaria as managing director of Bank of Ireland Asset Management (UK) Ltd.
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Pension fund buys Shell power venture
GLOBAL – A Canadian pension fund and a private equity arm of US insurer AIG have teamed up to buy InterGen, a power generating joint venture of Shell and Bechtel, for US$1.75bn (€1.3bn).
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Deutsche announcement on DeAM seen delayed
GERMANY - Deutsche Bank is not expected to announce a decision on the possible sale of Deutsche Asset Management in the UK until early next month.
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Standard Life says 65 staff to join Bank of NY
UK - Around 65 staff at Standard Life Investments could be set to transfer to the Bank of New York in Edinburgh in an outsourcing deal.
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MLIM to run €12bn Philips pension assets
NETHERLANDS – Electronics giant Philips is to outsource the management of its €12bn in Dutch pension assets to Merrill Lynch Investment Management in a move that will see 55 staff transfer to MLIM.
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SSGA’s assets under management rise 11%
GLOBAL – Assets under management at State Street Global Advisors, the asset management arm of State Street Corp, have risen 11%.
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European real estate body INREV names CEO
EUROPE - INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has appointed a new chief executive.
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ABN Amro Mellon gains $6bn in assets
EUROPE – ABN Amro Mellon, the securities services joint venture between the Dutch bank and Mellon Financial Corp., has gained $6bn in assets under custody in the last quarter.
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Watson using psychological tools for managers
GLOBAL – Consulting firm Watson Wyatt has confirmed that it is using “psychological tools” to identify the best investors.
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Wellington raises stake in outsourcer Capita
UK – Asset management firm Wellington Management Co. has increased its stake in Capita Group, which provides pension outsourcing to companies such as utilities firm RWE and supermarket group Safeway.
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Citigroup asset mgmt profit falls (Update)
GLOBAL – Citigroup has reported that first-quarter net income at its asset management business fell 25% to $79m (€61.5m), with revenues at the division down 10% (Updates with comment).
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UK milk industry scheme retains Aon Consulting
UK - The £275m (€398m) multi-employer Milk Pension Fund has retained Aon Consulting as actuarial and investment adviser.
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ABN Amro’s Alfred Berg becomes Societas Europaea
SWEDEN – ABN Amro’s Scandinavian investment group Alfred Berg is to simplify its legal structure by creating a so-called European company, or Societas Europaea.
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DeAM names Germany institutional sales head
GERMANY - Deutsche Asset Management has appointed J P Morgan Fleming’s Peter Kerger to head institutional sales in Germany.
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Six Dutch members’ councils unite
NETHERLANDS - The member councils of six large Dutch pension funds have united in a new national platform, which represents more than 2.5 million employees and pensioners.
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Fortis hires MN’s Coenraads for Dutch real estate
NETHERLANDS - Fortis Investments has hired MN Services’ Bart Coenraads as chief investment officer for Dutch real estate.
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Laurus ousts ING and Robeco in liability move
NETHERLANDS – The €340m pension scheme of Dutch food retailer Laurus has ousted ING and Robeco from running balanced bond and equity mandates worth €170m each.
