Asset Managers – Page 294
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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.
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Commerzbank integrates fund sales and production
GERMANY – Commerzbank says it will integrate investment fund sales and production in a bid to boost return on equity.
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SSGA's UK MD Wightman resigns (Update)
UK – State Street Global Advisors has lost its second senior executive in less than a week, with the resignation of UK managing director Nigel Wightman (updates with more information).
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New NAPF chairman wants Myners rethink
UK – The incoming chairman of the National Association of Pension Funds has called for a rethink of the Myners Principles of institutional investment, saying it was a mis-step.
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Fidelity creates separate US institutional arm
Fidelity Investments is creating a separate institutional arm separate from its retail mutual funds in the US.
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ING Secuties Services’ Cremer leaves
THE NETHERLANDS – Ingrid Cremer, marketing and communication manager for ING Securities Services in The Netherlands, has left the firm.
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UK Treasury to introduce REITs next year
The UK Treasury has committed itself to introducing legislation for a tax-exempt Real Estate Investment Trust (REIT) in 2006.
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UBS asset management arm nearly doubles institutional fund inflows
SWITZERLAND – UBS Global Asset Management said inflows to its institutional business nearly doubled to CHF 23.7bn (€15.3bn) in 2004.
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Riester products 'to make comeback'
GERMANY – The government-subsidised Riester pension products, which were launched in 2001 to encourage pension savings but that have sold poorly, could be “on the brink of a comeback,” according to Allianz Group chairman Michael Diekmann, who declared, for the first time, that his annual pay increased by 3% last ...
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DeAM unveils ambitious multi-manager plans
GERMANY - In a much anticipated move Deutsche Asset Management (DeAM) has unveiled its plans to launch multi-manager funds for the German-speaking institutional market and has ambitious growth targets despite slow sales at rivals.
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Port of London fund to tender DeAM-run brief
UK- Deutsche Asset Management (DeAM), which lost €13bn of institutional assets in the third quarter alone, could lose a further £39m(€56m) equity brief as the Port of London Authority Pension Fund is poised to start a portfolio review in the next 12 months.
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AP7 names central bank’s Ragnartz chief analyst
SWEDEN – The SEK5bn (€550m) seventh Swedish national pension fund, AP7, has appointed fund manager Christian Ragnartz of the Central Bank, Sveriges Riksbank, as chief analyst.
