Asset Managers – Page 304
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DeAM absorbs DB Advisors hedge fund arm
GLOBAL – Deutsche Asset Management is understood to have absorbed DB Advisors, Deutsche Bank’s in-house structured trading business following the resignation of the unit’s head Roger Ehrenberg.
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EU says no single market for asset management
EUROPE – The European Commission has said the single market is “not a reality” for asset management and clearing and settlement.
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Fonditel among winners at Spanish awards bash
SPAIN - Fonditel, the investment house that began life as the Telefonica pension fund, was among the main winners last night at the Spanish pensions industry awards on a good night for the domestic managers.
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AP2 awards eight fixed income mandates
SWEDEN – Andra-AP fonden, the Second Swedish National Pension Fund or AP2, has awarded fixed income mandates to eight external managers.
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RMB in Austrian institutional tie-up
AUSTRIA - Alternative investments specialist Absolute Return Consulting GmbH has started a partnership with London-based RMB International to represent the asset manager on the Austrian institutional market.
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DeAM unfazed by E4.3bn UK mandate losses
EUROPE – Deutsche Asset Management has said a total of three billion pounds (4.3 billion euros) in recent pension fund mandate losses is not such a “big shock”.
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Ex-Belgian pensions minister joins consultant
BELGIUM – Former Belgian pensions minister Freddy Willockx has joined the new full-service consulting firm Akkermans Stroobants & Partners.
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Hewitt global investment head Fitzpatrick to retire
GLOBAL – Nick Fitzpatrick is to retire as head of global investment consulting at Hewitt Associates and be replaced by former Schroders investment head Nicola Ralston.
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T. Rowe Price revamps London research team
EUROPE – T. Rowe Price has revamped its London-based non-US equity research team with the appointment of former Goldman Sachs research executive Kamran Baig.
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Diageo transfers shares to cut E1.1bn deficit
UK – Drinks firm Diageo has transferred four million shares in US cereal maker General Mills to its UK pension plan to help cut the scheme’s 750 million-pound (1.1 billion-euro) deficit.
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UK’s Dorset allocates to hedge funds in revamp
UK - The 900 million-pound (1.3 billion-euro) Dorset County Pension Fund has allocated five percent of its portfolio to hedge funds investments as part of a review of investment strategy.
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ING IM names new risk management head
NETHERLANDS – Luciano de Almeida has been named as head of risk management at ING Investment Management Europe to replace Remco van Eeuwijk, who has joined Wilshire Associates.
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Sweden takes step to IORP implementation
SWEDEN - The government’s insurance corporation overhaul committee has today presented its proposal for the implementation of the EU pension fund directive to deputy minister of Finance Gunnar Lund, Alex Inkapool writes.
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New Swiss asset management firm launched
SWITZERLAND – Dutch bank Oyens & van Eeghen has launched an asset management company in Switzerland called Altis Investment Management in partnership with two former Morgan Stanley executives.
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OppenheimerFunds hires from BGI for Europe push
UK - US investment manager OppenheimerFunds Inc. has hired Adrian Gordon from Barclays Global Investors to spearhead a push into the European institutional market.
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UK pension fund disclosures this week
UK – The following are UK pension funds’ holdings in companies that have been disclosed this week under the Financial Services Authority’s stock market listing rules.
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UK's Havering taps State Street for custody
UK - State Street says it has been awarded a 250 million-pound (364 million-euro) custody brief by the London Borough of Havering Pension Fund.
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AP3 equities chief Eriksson leaves
SWEDEN – The 16.6 billion-euro Third Swedish National Pension Fund, Tredje AP-fonden or AP3, says Magnus Eriksson - head of equities management - is leaving the fund.
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Credit Suisse AM opens Dutch office
NETHERLANDS - Credit Suisse Asset Management has decided to open an office in Amsterdam targeting institutional clients.
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Mercer says Austrian reform disappointing
AUSTRIA - Kurt Bednar, managing director of Mercer Austria, has called for finance minister Karl-Heinz Grasser to show more courage in reforming the pension fund law, or PKG.
