Asset Managers – Page 312
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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.
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Germany: Sihler’s DeAM bond team joins UBS
GERMANY – Joerg Sihler, head of fixed income at Deutsche Asset Management in Frankfurt, and his team have moved to UBS Global Asset Management.
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UK coal scheme aligns with BTPS on governance
UK – The 10 billion-pound (14.9 billion-euro) British Coal Staff Superannuation Scheme has aligned with the BT Pension Scheme on governance issues, with an outsourcing deal with Hermes.
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France’s FRR awards transition management brief
FRANCE – The French reserve fund, the Fonds de réserve pour les retraites, has awarded a transition management mandate to Goldman Sachs International for three years.
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CLAM name disappears in merger
EUROPE – The Crédit Lyonnais Asset Management names is set to disappear with the regulatory approval of the merger between Crédit Agricole Asset Management and CLAM.
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Petroleum Fund resumes foreign currency buying
NORWAY – Higher oil prices have led Norges Bank to resume the purchase of foreign currency for the 915.3 billion-crown (111.2 billion-euros) Petroleum Fund from next month.
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ABN Amro Mellon names European sales head
UK - ABN Amro Mellon has appointed Peter Adams to head its European sales division which targets the pensions, asset management, charities and local authority markets.
