Asset Managers – Page 336
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Speculation over HVB asset management arm
GERMANY – HVB’s chief executive Dieter Rampl has re-iterated that the group is to focus on distribution – fuelling talk that its asset management arm may be sold.
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European investment fund assets up 6.9% - Fefsi
EUROPE - The total assets of the European investment fund market rise by 6.9% in the second quarter, and the trend is positive for the future, says investment fund body Fefsi.
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Morley hires fund managers from UBS, Invesco
UK – Morley Fund Management has boosted its pan-European equities team with the addition of David Shapiro and Daniel Roberts.
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Ex-State Street research head Persaud joins GAM
UK – Avinash Persaud, former head of global research at State Street, is to join UBS’s asset management subsidiary GAM next month.
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Schroders sees E3.6bn in institutional outflows
UK – Schroders saw net institutional outflows of 2.5 billion pounds (3.6 billion euros) in the first half of 2003, mostly due to the shift from balanced to specialist mandates.
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UBS the world’s largest asset manager – Watson
GLOBAL – UBS has been named as the largest asset manager in the world in a survey of the top 500 fund managers.
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M&G hires NIB investment chief van Gelderen
NETHERLANDS – Prudential M&G is making a push into the Dutch pensions market, with the appointment of Eduard van Gelderen as director of fixed income.
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UK’s SWIP names Phillips as chief executive
UK – Scottish Widows Investment Partnership, or SWIP, has appointed Chris Phillips as chief executive.
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Edinburgh Fund Managers “close to sale”
UK – Edinburgh Fund Managers is believed to be nearing an agreement regarding its sale.
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PGGM spends E30m to hedge against inflation
NETHERLANDS – The 48 billion-euro Dutch healthcare pension fund PGGM has spent 30 million euros to hedge its pension commitments against inflation.
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Italy the focus at European pension summit
ITALY – Italy is one of the main topics – alongside the pension fund directive – to be covered at the forthcoming European Pension Schemes Summit in Rome next month.
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Sweden’s AP2 names new head of equities
SWEDEN – Andra AP-fonden, the second Swedish national pension fund, has hired Nordea Investment Management’s Poul Albaek Winslöw as its new head of equities.
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Watson’s Pickering to discuss consultants
UK – Watson Wyatt partner Alan Pickering is to discuss the role of pension consultants at a conference in London in October.
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Fortis Investments hit by institutional outflows
BELGIUM – Asset management profits and revenues at Fortis fell in the first half of this year – hit by net outflows of institutional clients.
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AP4 not satisfied with performance vs. benchmark
SWEDEN – The fourth national pension fund Fjarde AP-fonden, or AP4, says its performance against its benchmark in the first half of the year was “unsatisfactory”.
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Ex-MN Services sales head sets up consultancy
NETHERLANDS – The former head of sales and marketing at MN Services, Marion Verheul, has set up her own pensions consulting firm.
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Russian electric pension fund taps Pallada
RUSSIA – The 1.9 billion-rouble (57.1 million-euro) pension fund of Russia’s electric power industry has awarded an active mandate to Pallada Asset Management.
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Pictet Asset Management hires Gartmore’s Steele
EUROPE – Pictet Asset Management has hired Ann Steele from Gartmore as senior investment manager and head of European equity portfolio construction.
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KBC Asset Management CEO Caldwell to retire
EUROPE – The founder and chief executive of KBC Asset Management, Gavin Caldwell, is to retire and be replaced by Sean Hawkshaw.
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Petroleum Fund gives fixed income custody to Citibank
NORWAY – The Petroleum Fund says it has entered a global custody agreement for fixed income instruments with Citibank.
