Asset Managers – Page 331
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Swiss pension funds see asset rise in third quarter
SWITZERLAND - Swiss pension funds, with 400 billion Swiss francs (258 billion euro) under management, reported a SFr 4bn rise in assets during the third quarter of 2003.
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Pensionskasse Post opts for FTSEurofirst index
SWITZERLAND - Pensionskasse Post, the pension fund of the Swiss Postal service has signed up to use the FTSEurofirst 100 index as a tracked for a pan-Eoropean equity mandate.
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State Street’s Logue says winning client trust essential for service providers
GLOBAL – As the trend towards outsourcing continues, service providers will not win business based on products, but rather on reputation and trust, says Ron Logue, president and chief operating officer at State Street.
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EAMA and FEFSI seek modified capital adequacy rules
BELGIUM – The European investment management industry is still pressing the European Commission to modify further its approach for operational risk for investment firms.
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Highland fund opts for three new specialist managers
UK – The Highland Council pension fund in Scotland has appointed Alliance Bernstein, Fidelity Investments and Schroder Investment Managers as Insight Investment loses its 300 million pound (435 million euro) mandate.
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ABP forms real estate venture in US with Prentiss
NETHERLANDS/US – Dutch civil servants pension fund, ABP, has agreed to form a joint venture with US real estate investment trust, Prentiss Properties Trust.
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Renaisssance plays down impact of arrest of Yukos chief
RUSSIA - The arrest of the head of Yukos, Russia’s largest oil company, will not slow the country’s move to a market economy, say Moscow investment analysts.
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UK asset management fees higher, but value better - Mercer
UK – Despite higher fees, the UK asset management industry may offer better value for money now than in the past, according to research by Mercer Investment Consulting.
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Asset managers feel hindered by consultants – PWC
GLOBAL – Investment managers say consultants have hindered their relationships with institutional clients, according to a new survey by PricewaterhouseCoopers.
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CSAM appoints new head of emerging market equities
UK – Credit Suisse Asset Management has appointed a head for its emerging markets equities team.
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German investment funds gain E48bn
GERMANY – German investment funds have seen net inflows of 48.7 billion euros in the first three quarters of 2003, according to the latest statistics from the BVI.
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French reserve fund set to announce manager list
FRANCE – The French pension reserve fund, le fonds de reserve pour les retraites (FRR), has confirmed that it will be announcing the shortlist of fund managers in the second half of next month.
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Robeco AM scraps investment policy committee
NETHERLANDS – Robeco Asset Management has scrapped its investment policy committee amid a revamp of management responsibilities.
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BoNY sees “strong momentum” in global custody
US – The Bank of New York, posting a 37% rise in securities services fees, says it is seeing “strong new business momentum” in global custody.
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CSAM aims to attract wary institutions to hedge funds
Credit Suisse Asset Management (CSAM) has become the latest global asset manager to move into the direct management of hedge funds.
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CSAM names Brumby as corporate governance officer
UK - Credit Suisse Asset Management UK has named Richard Brumby in the role of corporate governance officer.
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Ex-Watson’s van Aalst sets up own consultancy
NETHERLANDS – The former head of Watson Wyatt’s Dutch investment practice, Paul van Aalst, is setting up a new consulting firm called Strategeon Investment Consultancy.
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Mercer’s consulting margin declines to 13.9%
GLOBAL – Mercer’s consulting margin has slipped to 13.9% in the third quarter from 14.3% a year ago, according to parent company Marsh & McLennan.
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Danish regulator under fire for pension stance
DENMARK – Denmark’s financial regulator has come under fire for forcing pension funds to sell shares and miss out on the current recovery in share prices.
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Morley Fund Management names Watson as CFO
UK - Morley Fund Management has named former M&G Group finance director David Watson as its new chief financial officer.
