Asset Managers – Page 310
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Germany’s Spezialfonds market up 5% - BVI
GERMANY - The German investment fund industry association says said the volume of funds reserved to institutional investors, Spezialfonds, has grown about five percent since last year, boosted by positive markets.
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Alternatives 71% of new UBS institutional assets
GLOBAL – More than 70% of the new institutional assets at UBS’s asset management arm in the second quarter were inflows into its alternative and quantitative business.
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Fortis hires fund exec from Ernst & Young
EUROPE - Fortis Bank has appointed Ernst &Young’s Jimmy Donnelly as senior business development manager at its Prime Fund Solutions arm.
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Punter Southall names Batting as chief executive
UK – Actuarial consultancy Punter Southall & Co. has named John Batting as chief executive and Elizabeth Battams as managing director.
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Italy’s Enel fund tenders entire portfolio
ITALY - The pension fund of the partly privatised state energy and gas producer Enel has tendered its entire portfolio, expected be worth 360 million euros by the end of the year.
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IPE publishes Top 400 European asset managers
EUROPE - IPE has today published its 2004 ranking of the Top 400 asset managers active in the multi trillion-euro European marketplace, with Allianz, Fidelity and State Street Global Advisors retaining their top three places.
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CSAM gains E845m in assets under management
SWITZERLAND – Credit Suisse Asset Management gained 1.3 billion Swiss francs (845 million euros) in new assets under management in the second quarter – compared to a 1.9 billion-franc outflow a year before.
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Icelandic pension funds in $2bn merger talks
ICELAND - Two of Iceland’s leading pension funds, Framsyn and Sjomanna, are in the process of negotiating a merger - the merged entity would have two billion dollars in assets.
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MLIM makes German institutional hire
GERMANY - Merrill Lynch Investment Managers has hired former J P Morgan sales executive Kai Volkmann to boost is German sales institutional team.
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US SEC acts in hedge fund fraud case
US – The Securities and Exchange Commission has acted against alleged fraud at a Pennsylvania-based hedge fund called Fountainhead.
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Swiss pension funds boost alternatives - CSAM
SWITZERLAND – Swiss pension funds have raised their allocation to alternative assets to 1.8%, Credit Swiss Asset Management says.
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Nestlé “very seriously” considering Irish CCF
GLOBAL - Multinational food group Nestlé, which has a 6.2 billion-Swiss franc (3.8 billion-euro) pension fund says it is “very seriously” considering Ireland’s tax-transparent pension vehicle Common Contractual Fund, or CCF.
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Asset manager hires pension fund
UK – Asset management firm AXA has tapped pension scheme-owned Hermes to run a set of passive funds.
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ABN Amro's institutional AUM fall
EUROPE – Institutional assets under management at ABN Amro’s asset management arm have fallen to around 86.3 billion euros at the second quarter from almost 88 billion euros at the first quarter of 2004.
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FEFSI rejects legal action on pension directive
EUROPE – European investment fund association FEFSI says it doesn’t intend to take legal action over the European pension directive – despite earlier saying the directive is discriminatory.
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Mellon to buy currency management firm Pareto
GLOBAL – Mellon Financial Corp. is to buy the 70% of currency management firm Pareto Partners that it does not already own for an undisclosed sum.
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Mercer’s strength offsets weak Putnam - MMC
GLOBAL – Marsh & McLennan says strength in its Mercer consulting arm and Marsh insurance unit offset weakness at asset management division Putnam in the second quarter.
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Brambles awards consulting brief to Aon
UK – The Australian-headquartered Brambles group, which provides support services globally, has chosen Aon Consulting to provide pensions and actuarial consulting services to its UK subsidiaries.
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Singer & Friedlander’s Kunzer joins CSAM
UK – Richard Kunzer has left Singer & Friedlander Investment Management in the UK and re-joined Credit Suisse Asset Management.
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Pension directive impedes single market – FEFSI
EUROPE – The European investment fund association FEFSI says the European pension directive represents a “serious impediment” to the single market for financial services.
