Asset Managers – Page 301
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News
Fidelity set to launch German KAG
GERMANY - Fidelity Investments says it is to launch a German investment company, known as a KAG, from January 2005 to create German-domiciled funds for institutional and retail investors.
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PGGM’s Munsters to succeed ABP’s Frijns
NETHERLANDS – ABP, Europe’s largest pension fund, has named PGGM’s Roderick Munsters to succeed Jean Frijns as chairman of ABP Investments.
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Aegon sets up Slovakia pension fund
NETHERLANDS – Aegon has launched a pension fund company in Slovakia, the life insurer said in a quarterly update.
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Ross Goobey: UK, Dutch governance similar
NETHERLANDS – Alistair Ross Goobey, chairman of Hermes Focus Asset Management and a long-time proponent of corporate governance, has highlighted the similarities between Dutch and UK corporate governance.
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AXA IM in E20bn institutional boost
EUROPE – AXA Investment Managers has gained 20 billion euros in assets under management in the first nine months – mostly driven by institutional inflows.
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DeAM, Schroders lose out at Avon Cosmetics
UK - Deutsche Asset Management and Schroder Investment Management have lost out with the 102 million-pound (146.5 million-euro) pension scheme of Avon Cosmetics switching from a balanced to specialist strategy.
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Mercer retirement revenues flat as MMC cuts jobs
GLOBAL – Mercer’s retirement revenues were flat in the third quarter as its troubled parent firm Marsh McLennan Companies announced it would cut 3,000 jobs globally.
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TKP Pensioen wins Wegener admin deal
NETHERLANDS – TKP Pensioen, a subsidiary of life insurance giant Aegon, has won an administration contract with Dutch publishing house Wegener.
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Call for hedge funds to adopt code of conduct
GLOBAL – Managers dealing in unregistered hedge funds are being invited to adopt a draft code of conduct presented by the CFA Centre for Financial Market Integrity.
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Blood and Gore set up London-based asset manager
UK – Former US Vice President Al Gore and former Goldman Sachs Asset Management CEO David Blood have set up a new London-based asset management firm targeting pension funds.
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PME cites single manager risk for F&C withdrawal
LONDON - PME, the 14 billion-euro Schiphol-based metal workers fund, has switched one billion euros of assets away from F&C Management to new providers.
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Dutch schemes dismayed by new government plans
NETHERLANDS - Dutch pension funds ABP and PGGM have reacted with dismay to plans by the Dutch Ministry of Social Affairs to overhaul the country’s industry pension funds.
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ABP buys stake in UK real estate firm
UK - ABP, the 150 billion-euro Dutch civil service pension fund, has acquired a minority stake in the UK-based student accommodation company Unite Group.
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Pictet senior partner Charles Pictet to leave
SWITZERLAND - Pictet & Cie’s senior partner, Charles Pictet, is leaving the company after 36 years to join the seven-member Swiss Federal Banking Commission (SFBC), the authority that controls the country’s financial sector.
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Dutch schemes face government overhaul
NETHERLANDS - The Dutch Ministry of Social Affairs has proposed overhauling the Dutch industry pension funds along the lines of the models used – and now seemingly discarded - by corporate schemes such as Philips.
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UK fund proposals adopt pension model
UK – New proposals on the governance of collective investment schemes – put together in the wake of the US market timing scandal - have been modelled on some elements of the existing pension disclosure code.
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IPE strengthens Netherlands coverage
NETHERLANDS – Investment & Pensions Europe, the leading magazine for European institutional investors, has strengthened its coverage of the Dutch market with the appointment of Danielle Rossingh as Dutch Editor.
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USS, PGGM group outline broker evaluation
EUROPE - A group of buy-side institutions that includes two of Europe's largest pension schemes, USS and PGGM, has outlined the criteria they will use to evaluate the performance of brokers.
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ING asset management profits rise 40%
EUROPE – ING says its operating profits from asset management rose 40.3% in the first nine months of 2004 - driven by the institutional asset management business.
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CSAM posts lower Q3 revenues and inflows
SWITZERLAND – Credit Suisse Asset Management has posted lower revenues and new asset inflows in the third quarter.
