Asset Managers – Page 311
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News
DB Real Estate in E1.4bn Italian deal
ITALY – Deutsche Bank’s DB Real Estate arm has bought New Real, the property company of the Italian energy group Enel.
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CSAM’s Parker predicts performance fees
GLOBAL - A senior figure on the global asset management industry predicts that performance fees will replace flat fees within two years.
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Citigroup asset management income slips 16%
GLOBAL – Citigroup’s asset management net income, which includes Retirement Services, fell 16% to 69 million dollars in the second quarter, from 82 million dollars a year before.
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ChevronTexaco scheme taps BIAM for equities
NETHERLANDS- The Bank of Ireland Asset Management has been awarded a mandate from the US energy group ChevronTexaco to manage global equities for its 240 million-euro pension fund in the Netherlands.
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New appointments at HVB and Chemiefonds schemes
GERMANY- HypoVereinsbank, HVB, has made two new appointments within the supervisory board of its own pension fund and at the chemical industry scheme, Chemie Pensionsfonds, which it manages.
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MLIM’s institutional assets decline to E190bn
GLOBAL – Merrill Lynch Investment Managers’ institutional assets under management have fallen to 235 billion dollars (190 billion euros) from 239 billion dollars a year ago.
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SSGA launches absolute return currency fund
GLOBAL - State Street Global Advisors has launched its first absolute return currency fund for institutional investors.
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State Street CEO sees revenue pressure
GLOBAL - State Street Corp. says it expects "downward pressure" on revenues in the short term - and costs related to its European outsourcing business.
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Dutch doctors’ fund considers changing status
NETHERLANDS - Stichting Gemeenschappelijk Beheer & Administratie Beroepspensioenfondsen Artsen (SBA), the Dutch medical pension fund, is in the process of transforming into a common management company.
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Pensions grow to 41% of asset management - report
GLOBAL - Pension fund assets have risen to 41% of the asset management industry's client assets in Benelux, France, Germany and Italy, up from 41%.
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Fund Forum: difficulties managing managers
FRANCE – The issue of managing investment managers has been raised at the Fund Forum event in Monaco – with one senior industry figure likening it to ‘herding cats’.
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Merchant Navy scheme CEO retires after revamp
UK - Geoffrey Henry, the chief executive of the 2.7 billion-pound (4.03 billion-euro) Merchant Navy Pensions Administration Ltd. Merchant Navy Officers Pensions Fund, MNOPF, has retired.
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F&C names director of sales for Germany
GERMANY - F&C Management has named Andreas Steinmeier, formerly head of institutional marketing and sales at Commerzbank’s Cominvest Asset Management, as director of sales and client service for Germany.
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BNP Paribas in Italian hedge fund move
ITALY- BNP Paribas Group has partnered with Mediobanca and Mediolanum’s Duemme Hedge to launch a fund of hedge funds targeting small pension funds and individual investors.
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SEI names Harris as France asset mgmt head
FRANCE - SEI Investments has appointed Damian Harris as new head of asset management in France after Jean-Yves Foucat left the company to become an independent consultant.
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Former HVB pension head Eckert joins Allianz
GERMANY - Carsten Eckert, former chief executive of Pension Consult, the consulting arm of HypoVereinsbank, has joined Allianz.
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French reserve fund allocates final E1.88bn
FRANCE – The 16 billion-euro French reserve fund, the Fonds de réserve pour les retraites, has allocated its final 1.88 billion euros in assets to managers in four lots.
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Railpen names Johnson as finance director
UK - The 14 billion-pound (20.8 billion-euro) Railways Pension Trustee Co. has appointed Frank Johnson as finance director following the retirement of Malcolm Gray.
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Swedish pension market in midst of restructure
SWEDEN - The crisis in the Swedish mutual life insurance market is leading to a shake-up in the pensions industry, Alex Inkapool writes.
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Jobs to go as ISIS buys F&C Management
EUROPE – An unspecified number of jobs are set to go with the acquisition by Friends Provident’s ISIS Asset Management of F&C Management from Eureko, which values the deal at more than a billion euros.
