Asset Managers – Page 319
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Mercer changes approach in Petroleum Fund report
NORWAY – Mercer Investment Consulting has not made qualitative comments in its latest annual report into Norway’s 845.3 billion-crown (97.9 billion-euro) Petroleum Fund.
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Ex-API chief Reid in Smedvig real estate link
UK - Iain Reid, former chief executive of Aberdeen Property Investors, has announced his return to the real estate arena.
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Iceland's No. 2 fund awards custody to BBH
ICELAND - Iceland's second-largest pension fund, the 133 billion-crown (1.5 billion-euro) Lifeyrissjodur Verzlunarmanna or Pension Fund of Commerce, has awarded custody to Brown Brothers Harriman.
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Investec names pension fund service head
UK - Investec Asset Management has named Marketta Sellers as head of pension fund client service.
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Mercer says it's cooperating with US SEC
US – Mercer Investment Consulting is “fully cooperating” with the Securities and Exchange Commission’s investigation into the pay arrangements of pension fund consultants in the US.
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Robeco CEO quits after losing board support
NETHERLANDS – Robeco says chief executive Géry Daeninck has resigned as of June 30 and will be replaced by former Euronext executive George Möller.
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Flintshire taps T. Rowe Price for US equities
UK - Flintshire County Council has awarded a 42 million-pound (62.8 million-euro) US risk-controlled equity mandate on behalf of the 550 million-pound Clwyd Pension Fund to T. Rowe Price.
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Poschadel replaced as CEO at UBS’s GAM
GLOBAL – UBS’s GAM alternative investments unit has named David Solo as its new chief executive, replacing incumbent Burkhard Poschadel.
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Italy’s Cometa tenders entire E2bn portfolio
ITALY - The Cometa engineering workers’ pension fund, which is expected to be worth two billion euros by the end of 2004, has tendered its entire portfolio.
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UK makes “market-based” soft commission proposal
UK – The UK’s financial services regulator has made a “market-based” proposal to deal with the issue of soft commissions.
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Hermes names real estate investment head
UK - Hermes Pensions Management has named Fiona Sweeney as its head of real estate investment management.
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US-based Watson Wyatt’s headcount falls 6%
US – Staff numbers at US consulting firm Watson Wyatt & Co. have fallen by 260, or 6.3%, in the past year, according to its latest earnings release.
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Experts suggest EU asset management overhaul
EUROPE – A group of experts has suggested a far-reaching overhaul of asset management legislation in the European Union – possibly involving a “stand-alone asset management pillar” in EU rules.
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AXA asset management revenues rise 25%
FRANCE – Revenues at AXA’s asset management businesses rose by 25.5% to 743 million euros in the first quarter.
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BNP Paribas unveils new pension plan
FRANCE - BNP Paribas is to launch it an individual pension plan, Plan d’Erpargne Retraite des Particuliers, which will be available from May 10 at its branches.
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Allianz takes entrepreneurial approach to ageing
GERMANY – Allianz’s top executive says the group will be “entrepreneurial” in taking advantage of the ageing society.
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DeAM names European real estate securities head
EUROPE - Deutsche Asset Management has hired John Hammond from Schroders as head of European real estate securities - a new business area for the group’s London property division.
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J P Morgan real estate nabs Deutsche's Tyrell
EUROPE - J P Morgan Fleming Asset Management has hired Nick Tyrell as head of European research and strategy for its real estate business.
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IPE launches IPE Netherlands
UK & Netherlands - Investment & Pensions Europe is delighted to announce the launch of IPE Netherlands. The first edition of the new quarterly publication is being dispatched to IPE readers today.
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ABP-State Street’s AIP passes $1bn AUM
GLOBAL – Advanced Investment Partners, a fund manager that is part of ABP and State Street’s venturing alliance, has gone past one billion dollars (843 million euros) under management.
