Asset Managers – Page 313
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Schroders loses E5.9bn in UK balanced mandates
UK – Schroders says it lost four billion pounds (5.9 billion euros) in balanced mandates in the first half as UK clients continued to restructure their portfolios – but added the revenue impact is “limited”.
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Julius Baer gains institutional assets (Correct)
(Corrects euro figure) SWITZERLAND – Julius Baer Group says its first-half income was boosted by a six billion-franc (3.9 billion-euro) rise in institutional assets under management.
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Commission splits internal markets and taxation
EUROPE - New European Commission president José Manuel Baroso has appointed two commissioners to run the internal markets and taxation departments that Frits Bolkestein used to head on his own.
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HSBC AM names global fixed income head
GLOBAL – HSBC Asset Management has named a former Citigroup and Credit Suisse Asset Management executive, Gregg Diliberto, as its new global head of fixed income.
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TKP Pensioen boosts Aegon earnings
NETHERLANDS – Aegon’s first-half earnings have been boosted by its TKP Pensioen pension administration arm.
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Northern Trust hires Leech for planning role
GLOBAL - Northern Trust says it has hired Wilson Leech from State Street to be head of international strategic planning, a new role.
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Dutch funds’ Harcourt in German hedge move
GERMANY - Commerzbank’s Cominvest Asset Management and Dutch pension-fund-owned Harcourt Investment Consulting are planning to launch a fund of hedge funds in the second half of the year.
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Gartmore names institutional chief
UK - Gartmore Investment Management has named Invesco UK’s Angus Woolhouse as head of business development for its global institutional and alternative investments business, spanning the US, Europe and Japan.
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Medical society taps State Street for custody
UK - The Medical Protection Society Ltd. has awarded State Street a custody and transition management services brief and has retained its asset management arm for its 460 million-pound (688.7 million-euro) portfolio.
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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.
