Asset Managers – Page 298
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News
Siemens pension chief Miller departs
UK – Tony Miller, general manager of the £1.2bn pension (E1.75bn) scheme of Siemens Shared Services Ltd., has left the fund following a review of the schemes’ structure.
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Metzler in German institutional asset boost
GERMANY - Citing robust investor demand for so-called “master funds,” Germany’s Metzler Asset Management says its institutional assets under management (AUM) have increased by almost one-third this year.
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Northern Trust: ‘bond fundamentals remain strong’
UNITED STATES – Chicago-based banking giant Northern Trust sounded an upbeat note on the bond market, saying fundamental averages of bonds remained “strong”.
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US IT giant EDS to buy Germany’s BHW Invest
GERMANY -- BHW Invest, a German asset manager specialising in the so-called master fund concept, is to be sold to US information technology giant EDS.
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HPM to break chair link with BTPS
UK – Hermes Pensions Management (HPM), the asset management arm of the British Telecom Pension Scheme (BTPS), has announced that from next month it will separate the roles of its chairman and that of chairman of BTPS, which owns 100% of HPM.
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Lancashire CC Pension Fund allocates mandates
UK – The £2.5bn (€3.56bn) Lancashire County Council Pension Fund has appointed two new asset managers and retained two of his previous managers in a revamping of its portfolio. The changes followed an investment strategy review earlier this year.
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Dorset County PF names new hedge fund manager
UK -- Dorset County Pension Fund has appointed London and New York-based fund of hedge funds manager International Asset Management (IAM) to manage a diversified portfolio of hedge funds.
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UK managers unveil new hedge and cash funds
UK -- Threadneedle Asset Management is to launch its Threadneedle Global Crescendo Fund towards the end of the first quarter of next year.
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Italy’s Pegaso switches investment strategy
ITALY - The €103m pension scheme for the employees of the gas and electricity industries is looking for seven asset managers as it changes its investment strategy to cater for its members’ different attitudes to risk.
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Citigroup consultant head Duffain joins Pioneer
EUROPE - Pioneer Investments says it has hired Kerry Duffain from Citigroup Asset Management to be head of investment consultant relations in Europe.
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F&C unveils inflation-linked bond fund
EUROPE - F&C Asset Management has launched a euro-denominated inflation-linked bond fund aimed at pension funds and insurance companies struggling with liabilities.
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UK voluntary schemes in 'last chance saloon'
UNITED KINGDOM – The current voluntary approach to pensions in Britain is in the ‘last chance saloon’, a taskforce has warned.
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Pen-Sam completes DKK6bn mandate switch
DENMARK -- Denmark's DKK47.0bn Pen-Sam Pensionfund has completed a restructuring of some DKK4.5bn of its DKK8bn equity portfolio with the awarding of a DKK1.1bn US equities index mandate to Nordea Investment Management ad a DKK1bn US all-cap equity mandate to T. Rowe Price.
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Dutch schemes go into bonds – statistics office
NETHERLANDS - Insurance companies and pension funds in the Netherlands have significantly increased their investments in foreign bonds, Statistics Netherlands has said.
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UBS GAM says it gets German pension boost
GERMANY - Citing strong demand for the management of German pension assets, UBS Global Asset Management says it has posted a “double-digit” rise in total assets under management in Germany this year.
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ABN Amro names global institutional sales chief
GLOBAL – ABN Amro Asset Management has named Frank Goasguen as its new head of global institutional sales.
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RCP sees E47bn demand for German hedge funds
GERMANY - Investor demand for German-domiciled hedge funds, which made their debut at the start of 2004, should grow to an average of 47 billion euros four years from now, according to a study by RCP & Partners.
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AXA IM transfers 217 staff to State Street
EUROPE – AXA Investment Managers says it has completed the previously announced 300 billion-euro outsourcing of its investment operations, with an initial 217 staff transferring to State Street.
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CS sees heavy demand for Swiss real estate fund
SWITZERLAND – Credit Suisse says institutional investors and banks have shown great interest in a new Swiss real estate fund.
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AP3 names hedge fund exec as equities head
SWEDEN - The 152 billion-crown (17 billion-euro) Third Swedish National Pension Fund, Tredje AP-fonden or AP3, has appointed a hedge fund manager from Nordea as its new head of equities.
