Asset Managers – Page 324
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News
IPE Awards to be held in Zurich in November
EUROPE - IPE has announced the IPE Awards 2004 will be held in Switzerland at Zurich’s Kongresshaus on November 30.
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CIOs see 32% rise in hedge fund assets
EUROPE – The chief investment officers at European and US investment managers expect a 32% rise in hedge fund assets under management in the next year, according to a new survey.
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SSGA wins E542m Philips passive mandate
UK – The three billion-euro Philips UK Pension Fund has awarded State Street Global Advisors a passive equity mandate worth 370 million pounds (542 million euros).
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Covip satisfied with new regulatory proposals
ITALY – Pension regulator Covip has expressed satisfaction with the government’s new plan to set up an authority for the protection of savers and investors that, contrary to previous hints, will not see Covip submerged.
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AP3 fires Schroders from Japanese equity brief
SWEDEN – AP3 has fired Schroder Investment Management from managing around 200 million euros in Japanese equities - though the UK asset manager will remain in the fund's manager pool.
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BoNY names new pension fund relationship head
EUROPE – The Bank of New York has named a new head of relationship management for pension funds in the UK and Europe.
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Invesco buys stake in HVB real estate arm
EUROPE - Invesco Real Estate has bought around a 75% stake in the 3.5 billion-euro institutional real estate investment arm of Germany’s Hypovereinsbank (HVB) in a deal believed to be worth between 30-50 million euros.
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ABN Amro sees “major opportunity” in asset mgmt
NETHERLANDS – ABN Amro says it sees a “major opportunity” in investment management, although profits at its asset management unit fell by more than five percent in 2003.
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Mercer’s Hobart, Bastin transfer to Oliver Wyman
UK – Julia Hobart and Denis Bastin have transferred from Mercer Investment Consulting to sister company Mercer Oliver Wyman.
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SocGen sets up global investor services arm
FRANCE – Société Générale says it has set up a new investor services division headed by former its former global banking chief.
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Henderson, UBS under scrutiny as Warwick revamps
UK - Warwickshire County Council‘s 660 million-pound (966 million-euro) pension scheme is restructuring - looking for new asset managers and a single global custodian.
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UK's Lincoln awards global custody to J P Morgan
UK - The 650 million-pound (952.1 billion-euro) pension fund of Lincolnshire County Council has awarded a global custody mandate to J P Morgan Investor Services.
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Fonchim re-tenders after “insufficient” response
ITALY- The 800 million-euro Italian pension scheme for chemical workers, Fonchim, has re-tendered five mandates.
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CDC says French SRI market grows to E4.4bn
FRANCE – A subsidiary of CDC has found that total assets in the French SRI market have risen to 4.4 billion euros – partly boosted by a 550 million-euro switch into SRI by BNP Paribas Asset Management.
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Russia: independent pension managers shunned
RUSSIA - Only two percent of Russian employees have chosen independent managers for their pension assets, prompting concerns over the country’s pension reform.
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CSAM says Swiss pension assets rise E7.7bn
SWITZERLAND – Credit Suisse Asset Management says its Swiss Pension Fund Index rose more than three percentage points in the fourth quarter, representing a rise in assets of around 12 billion Swiss francs (7.7 billion euros).
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Netherlands: Hermes hires ex-SPF CEO de Koning
NETHERLANDS - London-based pension fund manager Hermes has hired former Dutch railway pension fund executive Peter de Koning.
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Standard Life Investments names acting CEO
UK – Standard Life Investments has named its chief investment officer Keith Skeoch as acting chief executive following Sandy Crombie’s appointment as CEO of the parent company.
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Henderson European equities director Elwes leaves
UK – Ben Elwes, director of European equities at Henderson Global Investors, has left and been replaced by Andrew Koch from HSBC Asset Management.
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Mercer, Putnam revenues rise, says parent Marsh
GLOBAL – Marsh & McLennan says that revenues at its Mercer and Putnam subsidiaries rose by 17% and 18% in the fourth quarter.
