Asset Managers – Page 313
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News
PGGM gives Aegon its largest-ever win with €1bn
NETHERLANDS – The €55bn PGGM pension fund has given Aegon The Netherlands a €1bn mandate for European government bonds, its largest-ever win and a sign of a change within the investment management style of large pension funds.
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Fortis swoops on Barings' small caps team
UK- Fortis Investments has hired a team of four European Small Caps investment managers from ING’s subsidiary Baring Asset Management, as it seeks expertise in the class that it says will “thrive”.
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SEB to buy Denmark's Codan for about €400m
DENMARK – Swedish financial services provider SEB has announced the planned acquisition of Denmark’s fourth largest life and pensions company, Codan, for an estimated €400m.
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Gyllenhammer calls for portable pensions in Europe
EUROPE - Pehr Gyllenhammer, the chairman of the European Financial Services Round Table (EFR) of leading product providers and Aviva, has said pensions is one of the three the“ key areas” on which the European Commission should concentrate to bring about a single market.
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BGI recruits Stan Beckers for active equities
UK - Barclays Global Investors (BGI) has appointed Stan Beckers to the new position of senior investment strategist within its £30bn (€44.8 bn) European active equity business.
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Fortis appoints John Brown for insitutional sales
GLOBAL - Fortis Investments, the €81bn asset management arm of Belgium financial services company Fortis Group, has appointed John Brown director of institutional sales for the US market.
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Italy's Previndai fund to restructure and offer mandates
ITALY- The €2bn pension fund of industrial managers, Fondo Pensione Previndai, is to create two portfolios run by five external equity and bond fund managers as an alternative to its insurance contracts.
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CalPERS earns $98.4m (€81.2m) from stock lending
US – CalPERS has earned $98.4m (€81.2m) from lending out about two-thirds of its securities in one year and is moving further into enhanced index strategies and away from index funds and active managers.
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RBoS puts St David's trust into admin receivership
UK – Royal Bank of Scotland has put the St David’s Investment Trust into administrative receivership after minority shareholders objected to the restructuring proposal.
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Fortis markets its Ucits III status
BELGIUM – Fortis Investments has obtained Ucits III status for its Luxembourg Sicav to allow it to market a wider range of products across Europe, but as the UK funds trade association identified further issues to create a single market.
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Insight makes third structured products hire
UK- Insight Investment Management, the asset management arm of HBOS, has hired Takis Antastassopoulous from consultancy Quant Technology as senior portfolio manager on structured products and index funds.
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GES allows Nestle and Nomura into the ethical fold
SWEDEN – GES Investment Services, a Sweden-based socially responsible investments consultancy with clients managing €60bn of assets, has revised its exclusion list following improvements at Nestlé and Nomura but barred three other companies.
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China welfare fund to grant second lot of mandates
GLOBAL – European fund managers are eyeing the second tranche of mandates worth a fifth of the 132.5 billion yuan (13.2 billion euro) China National Social Security pension fund to be announced later this year.
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Fefsi to lobby EU for equal rights
BELGIUM – The Fédération Européenne des Fonds et Sociétés d’Investissement (Fefsi), the pan-European funds trade association, is to lobby the European Commission and Parliament to gain equal treatment for collective investment schemes with life and pension vehicles to provide retirement provision.
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Sweden's AP1 hires head of external management
SWEDEN- The 140 billion crowns (15.2 billion euros) buffer fund AP Foersta Fonden, the First Swedish National Pension Fund, has appointed SEB Asset Management’s Rikard Kjoerling to the new position of head of external management.
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Industry round table calls for lead supervisor
BELGIUM - A group of Europe's leading banking and insurance companies is calling on the European Commission to advance pan-European co-operation between national asset management regulators, by establishing a lead supervisor that would act as a single point of contact for all reporting schemes.
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BA funds to mull opening to external funds
UK - The £9bn (€13.6bn) internally-managed British Airways pension schemes are considering whether to open to third parties, and Hermes Pensions Management has said it would look at investing in them if this happened.
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IFC backs Raiffeisen growth with €200m
AUSTRIA - The International Finance Corporation, the private sector financing arm of the World Bank, has provided Raiffeisen Zentralbank Osterreich (RZB) with €200m to support its growth in central and eastern Europe.
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Credit Suisse appoints Tochtermann
SWITZERLAND - Credit Suisse Asset Management (CSAM) has appointed Daniel Tochtermann as director and head of international real estate products targeting Swiss institutional investors.
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Petroleum Fund chief explains pay structure
NORWAY – The head of the 915.3 billion-crown (110 billion-euro) Petroleum Fund has outlined how the scheme’s employees who manage investment mandates are compensated – and signalled a move to more external managers.
