Asset Managers – Page 307
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Legg Mason plans European expansion
FRANCE - Legg Mason Investments says it has opened a Paris representative office - to be followed by similar moves in Germany and elsewhere in Europe.
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France: BNP, Dexia vie for top SRI slot - report
FRANCE - BNP Paribas and Dexia are vying for first place in the French socially responsible investing market, consulting firm Novethic said.
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Northern boosts European transition management
EUROPE - Northern Trust Global Investments says it has former Instinet executive Simon Hutchinson as strategist for transition management in Europe.
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ING named as manager fired by SFN (Update)
(Updates with name of manager) NETHERLANDS - Stichting Flexibel Uittreden Nutsbedrijven, the 348 million-euro fund for the Dutch utility sector, has withdrawn a 175 million-euro balanced mandate from ING Investment Managment and handed it to Barclays Global Investors.
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CalPERS buys into German real estate
GERMANY – CalPERS, the largest US pension fund at 166.3 billion dollars (136.8 billion euros), has bought a commercial property in Frankfurt for 14 million dollars.
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Rona replaces Marin as Invesco Spain chief
SPAIN – Invesco Asset Management Spain has named Miguel Rona as its new general director, replacing Juan Marin who is joining Fortis Investments.
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BOE says DB closures adding to property boom
UK – The Bank of England says the closure of defined benefit occupational pension schemes has added to the recent “upward pressure” on house prices in the UK.
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Icelandic bid for Singer likely soon – analyst
UK – Iceland’s Kaupthing bank, which has made a series of European acquisitions since 1998, is likely to make a bid for UK asset management company Singer & Friedlander soon, an Icelandic analyst has said.
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Germany enters “new era” for private pensions
GERMANY – Germany’s old-age law that was passed by parliament in June has marked the ‘dawn of a new era’ for the pension market - according to HVB insurance analyst HVB Lucio di Geronimo.
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CSAM German institutional assets up 16%
GERMANY – Credit Suisse Asset Management’s German institutional assets under management have risen 15.9% to 4.21 billion euros in the first half, compared to the previous year.
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European fund-of-funds growth levels off – report
EUROPE – Growth in the fund-of-funds market in continental Europe has “levelled off”, according to a report from Cerulli Associates.
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Hedge firm Tremont names London investment head
EUROPE - Tremont Capital Management, which produces a hedge fund index with Credit Suisse First Boston and owns TASS Research, has named Jim Mitchell to the new role of head of investment management, Europe.
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BlackRock to buy State Street Research
US – US investment management firm BlackRock is to buy State Street Research, which is not related to its Boston neighbour State Street Corp., from MetLife for 375 million dollars (310 million euros) in cash and stock.
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AP1 may appoint more external managers
SWEDEN – Första AP-fonden, the 148.1 billion-crown (16 billion-euro) first Swedish buffer fund, says it can’t rule out the possibility of hiring more external asset managers – and that it has set up a new external management unit.
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Fortis institutional assets flat in second quarter
EUROPE - Fortis Investments, the asset management arm of the Fortis group, gained no new institutional assets in the second quarter of 2004, according to its latest earnings report.
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Kaupthing says it hires SSGA’s Wardi
NORDIC – Iceland’s Kaupthing, which recently set up a UK asset management business, says it has hired State Street Global Advisors’ Peik Wardi to boost its Northern European institutional business.
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Gartmore creates head of pooled products role
UK – Gartmore Investment Management says it has hired Kevin Scollan from J P Morgan Fleming Asset Management to the new role of head of pooled products.
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Consultant recognition key for Schroders – Fitch
UK – Recognition from investment consultants and improved investment performance are key for Schroder Investment Management, says Fitch Rating Services.
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FEFSI says investment fund assets rise 7.1%
GLOBAL – European investment fund association FEFSI says worldwide investment fund assets worldwide rose 7.1% in the first quarter of 2004 to 11.8 trillion euros.
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HSBC AM hires two European equity managers
UK - HSBC Asset Management has appointed Legal & General’s Simon Sharp and Lazard Asset Management’s Angus Parker as senior European equity portfolio managers in London.
