Asset Managers – Page 332
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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.
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Citigroup’s asset management income falls
GLOBAL – Citigroup says its asset management net income declined 37% to 72 million dollars in the third quarter, compared to the prior-year period, while the division’s revenues slipped two percent.
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LGIM’s new business surges 36%
UK – Legal & General Investment Management’s gained more than four billion pounds (5.7 billion euros) in new business in the third quarter, a 36% rise.
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Pension funds to have large role in SRI - report
EUROPE – Socially responsible investment among European institutional investors is increasing, and pension funds will play a large role in developing the market further, says Eurosif.
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AXA IM names Italy distribution head
ITALY – Marco Fusco has moved from ING Asset Management Italy to head up head of distribution at AXA Investment Managers Italia.
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AXA IM names UK investment chief
UK - AXA Investment Managers has hired Paul Griffiths from Investec Asset Management to be UK chief investment officer.
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French pension system “to take time to develop”
FRANCE – Following its pension reform in August, France now has a third pillar and extended second pillar pensions system – though development will take time, says the head of the French pension fund association.
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Northern Trust’s net income rises 18%
US – Northern Trust’s third-quarter net income rose 18% to 113.8 million dollars (97.4 million euros), up from 96.4 million dollars in the 2002 quarter.
