Asset Managers – Page 302
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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.
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State Street’s Princeton arm opens Amsterdam office
NETHERLANDS - Princeton Financial Systems, a wholly owned subsidiary of financial services giant State Street, has opened an office in Amsterdam.
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EU to review fund industry amid pension timebomb
EUROPE – Calling the current framework for investment funds “an old banger”, Europe’s new internal market commissioner Charlie McCreevy says he will review the asset management industry in a bid to help defuse the pensions timebomb.
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Benkner named head of DeAM in Europe
EUROPE - Deutsche Bank is to relocate Deutsche Asset Management’s headquarters to Frankfurt from London amid a revamp that has seen Paul Manduca replaced by Axel Benkner as DeAM’s European chief executive.
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Skandia’s Nammack sets up own firm
SWEDEN - Kristian Nammack, the head of external asset management at Stockholm-based Skandia Liv Kapitalförvaltning, has left the group to set up his own company.
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Pension funds to save “millions” in ITG-EXN deal
EUROPE – Pension funds could be set to save millions of pounds as a result of Posit operator ITG Europe’s plans to buy E-Crossnet, or EXN, the equities crossing network that is owned by asset management firms.
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Germany: F&C to offer SRI option next year
GERMANY – F&C aims to offer institutional clients a socially responsible investing option next year, according to Claus Heidrich, co-head of F&C’s German branch.
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Goldbrunner to head Allianz’s AGI in Europe
EUROPE - Johann Goldbrunner, head of dbi, Allianz’s institutional fund business in Germany, will be appointed head of Europe for Allianz Global Investors (AGI), effective January 1, IPE has learned.
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Harrigan voted out as CalPERS president
US – Sean Harrigan has been ousted as president of the California Public Employees’ Retirement System, or CalPERS.
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Axa hires Nutbrown for new tactical asset allocation division
Axa Investment Managers has hired Kieron Nutbrown to take the new role of head of tactical asset allocation (TAA) under his old boss, Paul Griffiths.
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Martin Currie sees big mandate wins but denies sale rumour
UK - Martin Currie Investment Management has won significant new mandates in its latest financial year but has denied speculation that its latest appointment signifies its planned sale.
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(Correct) BA pension scheme seeks manager
(Clarifies not a mandate) UK – The British Airways Pension Investment Management Ltd is looking for a new fixed interest manager.
