Asset Managers – Page 290
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Swiss schemes ‘invest more in alternatives’
SWITZERLAND – Swiss institutional investors have invested more in alternative asset classes and real estate in 2004 - but their asset allocation “remains prudent” a survey sponsored by Credit Suisse Asset Management suggests.
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Deloitte Dutch scheme extends Aegon contract
NETHERLANDS – The €400m Dutch pension scheme of consulting firm Deloitte has expanding its deal with Aegon for asset management and reinsurance in response to the new FTK rules.
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Vanstone named head of AXA Rosenberg in Europe
EUROPE – AXA Rosenberg has promoted marketing head Simon Vanstone to European chief executive, replacing Will Jump who is returning to the firm’s US headquarters.
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Fiat pension scheme in annuities move
ITALY – The €132.3m pension fund for Fiat’s middle-management, Fondo Pensione Quadri e Capi Fiat, is looking for an established insurance company to provide annuities for its retiring members.
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UK fund managers eye headcount expansion
UK – Fund management firms see improving business sentiment and expect to grow their headcount, according to a new survey.
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Iceland’s Kaupthing in talks to buy UK’s Singer
ICELAND/UK – Icelandic bank Kaupthing, which has made a series of European acquisitions since 1998, is in talks to buy UK asset manager Singer & Friedlander.
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Ex-Mercer president’s final bonus was down 39%
GLOBAL – Peter Coster, the former president of consulting firm Mercer, saw his bonus in his final year at the firm decline by more than 39%.
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CSAM sets up tax-efficient vehicles for schemes
SWITZERLAND - Credit Suisse Asset Management has launched two new tax-efficient investment vehicles for US equities which are exclusively aimed at Swiss pension funds.
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UK schemes to get more disclosure from managers
UK – UK pension funds are to get more disclosure about their asset managers’ trading commissions from next year, under new proposals put together by the industry and the Financial Services Authority.
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BGI launches pooled liability funds
GLOBAL – Barclays Global Investors has launched 20 pooled liability driven investment funds with more than £1bn (€1.45bn) in assets.
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Assets going to fewer managers – Credit Suisse
GLOBAL – Credit Suisse says more new investment flows are going to a small number of fund managers as it becomes more difficult for active managers to outperform.
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Pensions Management Institute names president
UK - The Pensions Management Institute has named Penny Green, chief executive of the Superannuation Arrangements of the University of London, as its new president, taking over from Roger Cobley.
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Schroders' investment chief pockets €5.3m
UK – The head of investments at asset manager Schroders, Richard Horlick, was paid a total of £3.65m (€5.3m) in 2004, according to its annual report.
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Gloucestershire scheme in €65m property move
UK – The £640m Gloucestershire County Council Pension Scheme has put its entire £45m (€65m) property exposure into the Hermes Property Unit Trust, or HPUT.
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Standard Life in property deal for pension fund
UK - Standard Life Investments has bought a central London property on behalf of its Pooled Property Pension Fund for £20m (€28.8m).
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Red tape killing Dutch company schemes - KPMG
NETHERLANDS - Thirty percent of Dutch companies with their own pension schemes are seriously considering abandoning them due to ‘red tape’, says KPMG.
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L&G says pension funds still shifting to bonds
UK – Legal & General reckons pension funds’ shift towards bonds and away from equities has not yet run its course.
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Derbyshire scheme consolidates custody
UK – The £1.45bn (€2.08bn) Derbyshire County Council pension fund has consolidated the custody of its four portfolios under ABN Amro Mellon after UBS Global Asset Management gave up custody of one of them.
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CSAM names finance chief for UK and France
EUROPE - Credit Suisse Asset Management has named Mark Tickle as chief financial officer for the UK, France, eastern Europe and Spain.
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Gloucestershire ousts managers in revamp
UK - Gloucestershire County Council's £600m (€863m) pension fund has appointed Standard Life Investments to manage a segregated specialist £130m UK equity portfolio.
