Asset Managers – Page 315
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Firms back European pension directive – Hewitt
EUROPE – Multinational companies in Europe “would welcome” the opportunity to have a single fund to finance their European Union-based pension obligations, according to a new survey by Hewitt Associates.
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ABN Amro Mellon's Depotbank arm gains assets
NETHERLANDS - ABN Amro Mellon’s Depotbank arm in Germany has won two billion euros in business since its launch in January, the head of German operations said.
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Munsters has cheap E1m mortgage with PGGM
NETHERLANDS – Roderick Munsters, chief investment officer of 53 billion-euro Dutch healthcare fund PGGM, has a discounted mortgage loan of almost one million euros with the fund.
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Norway’s Petroleum Fund grows to E111bn
NORWAY – The Petroleum Fund has grown to 915.3 billion crowns (111.2 billion euros), following a return of 2.9% in the first quarter.
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Dispute over size of French SRI market
FRANCE – A dispute has emerged over the size of the French SRI market, with estimates that the market is worth up to 4.5 billion euros criticised as “Alice in Wonderland”.
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Lancashire awards custody amid wider revamp
UK - The 2.4 billion-pound (3.56 billion-euro) Lancashire County Council Pension Fund says it will appoint ABN Amro Mellon as its custodian.
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Aon names McKinlay head of investment practice
UK – Aon Consulting has named Ian McKinlay as head of its investment practice.
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Mellon names director of global institutional sales
GLOBAL – Mellon Financial has named Drew Pace as executive vice president and director of global institutional sales and marketing.
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S&P names development head for European pensions
EUROPE – Standard & Poor’s has named Alex Weiland as head of business development for its new European pensions business.
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Railpen names Hitchen as chief executive
UK - The 13.6 billion pound (19.5 billion-euro) Railways Pension Trustee Company, Railpen, has confirmed that Chris Hitchen will take over as chief executive from Peter Murray, who is retiring.
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Italy’s Laborfonds taps Franklin Templeton, SGAM
ITALY- The 215 million-euro Laborfonds says it has awarded Franklin Templeton Investments and Societe Generale Asset Management an initial 10 million euros each, in global equities and bonds respectively.
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Italy's Desio taps ABN Amro Mellon for custody
ITALY- Banco Desio has awarded ABN Amro Mellon a non-domestic equities and bonds custody mandate worth in the region of one billion euros.
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DeAM names Lees as head of UK equities
UK – Deutsche Asset Management has named Peter Lees as head of UK equities, to replace John Wood who left earlier this month.
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Schroders loses E5.3bn in institutional outflows
UK – Schroders Plc says it had a net outflow of 3.6 billion pounds (5.3 billion euros) in its institutional business in the first three months of 2004.
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Institutions move away from risk - reports
UK – Institutional investors have moved away from risk, according to new reports from Merrill Lynch and State Street.
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Denmark’s SP to widen asset management options
DENMARK – The Special Savings Pensions Scheme (SP) to which all Danes contribute one percent of earnings will offer wider options as to how the assets can be managed, as from January 1 2005.
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Mellon's Newton names UK institutional head
UK - Mellon Financial's Newton arm has named Mark Scott as head of its institutional business.
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Allianz says it aims to grow AUM by 10%
GERMANY – Allianz says it aims to increase the assets under management at its asset management business by 10% - and that the unit has cut its quarterly loss by around a third.
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ABN Amro outsources E75bn to State Street
NETHERLANDS - ABN Amro Asset Management has agreed to outsource fund administration and investment operations to State Street in a deal comprising 75 billion euros in assets.
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AP3’s Andersson to head Skandia Asset Management
SWEDEN – AP3’s Mats Andersson has been named the new head of Skandia Kapitalförvaltning, Skandia Asset Management, according to Skandia’s web site.
