Asset Managers – Page 292
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News
Horeca taps T. Rowe, Acadian for equities
NETHERLANDS - The €1.8bn Pensioenfonds Horeca & Catering has selected T. Rowe Price Global Investment Services and Acadian Asset Management for its €400m global equity portfolio that is currently solely managed by F&C Netherlands B.V.
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Schroders nabs ex-BGI exec to head UK DC
UK - Schroder Investment Management has appointed Michael MacDonald-Smith as head of its UK defined contribution business in a bid to concentrate on this increasingly popular pension arrangement.
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Julius Baer says it’s not a takeover candidate
SWITZERLAND – Julius Baer Group says its new share structure does not mean it’s a takeover candidate - and that it could be on the lookout for acquisitions.
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Universal unveils CTA for pensions
GERMANY - German fund administrator Universal-Investment plans to introduce contractual trust arrangements, which let firms create an external fund to finance their pension liabilities.
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London pension authority eyes climate change
UK – Knowing the consequences of climate change is becoming a “respectable” long-term investment issue among investors, according to the chief executive of the London Pensions Fund Authority.
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Germany plans boost to Pensionsfonds system
GERMANY - The German government intends to radically boost the competitiveness of Pensionsfonds, the equity-oriented corporate pensions vehicle created in 2001, according to a senior official in the social affairs ministry.
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Italy’s Cooperlavoro seeks managers after revamp
ITALY - The €64m Cooperlavoro is looking for up to six asset managers after a switch from a single- portfolio to a three-portfolio investment strategy.
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Finland: Kaupthing nabs Carnegie research head
FINLAND - Kaupthing Bank Oyj Asset Management says it has hired Carnegie’s Finland research head Kim Nummelin.
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Royal London deputy CEO made redundant
UK - David Hughson, deputy chief executive of Royal London Asset Management, has been made redundant.
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‘Convexity’ key as Dutch schemes buy long bonds
NETHERLANDS – Convexity, or the sensitivity of bonds to interest rates, is an important factor as Dutch pension schemes move into longer dated bonds amid the new FTK regulations – according to a market analysis firm.
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Ousted Babcock CEO ‘misrepresented assets’
GERMANY - The surprise dismissal of Günter Schulze as chief executive of Babcock Pensionskasse followed his misrepresentation of the pension fund’s investments, sources say.
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Danish party calls for SP payments to end
DENMARK - Denmark’s right-wing populist Dansk Folkeparti has called for an end to payments into the special pension arrangement, the Særlige Pensions ordning (SP).
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SSGA says German assets rise 43%
GERMANY - Asset management group State Street Global Advisors says its institutional assets under management in Germany and Austria rose 43% last year to total €10.1bn.
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Wegener names KAS as global custodian
NETHERLANDS – The €635m pension fund of Dutch media group Wegener has awarded a global custody and administration mandate to KAS Bank.
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Mercer’s UK revenues decline, says MMC
UK – Revenues at Mercer Human Resource Consulting in the UK and the US declined by an unspecified amount in 2004, says embattled parent firm Marsh & McLennan.
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Aon AM taps Bank of NY for $1.5bn custody
UK – The Bank of New York says it has been appointed by Aon Asset Management to provide custody for $1.5bn (€1.13bn) in assets.
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Law Debenture trustee profit rises 52%
UK – Law Debenture Corp., the London-based trustee services and investment trust group, has posted a 52.2% increase in pre-tax profits at its trustee services division.
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Allianz’s European asset chief Goldbrunner exits
GERMANY - Johann Goldbrunner, head of Europe for Allianz Global Investors, has decided to resign on April 1 – just three months after taking on the role.
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Germany’s Babcock Pensionskasse removes CEO
GERMANY - Babcock Pensionskasse, the €460m pension fund of failed engineering firm Babcock, has stripped chief executive Günter Schulze of his responsibilities, sources say.
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DeAM now confirms Hawkpoint exploring options
UK/GERMANY - Deutsche Asset Management in the UK has today confirmed that the investment bank Hawkpoint has been hired to explore its “strategic options”.
