Asset Managers – Page 338
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Danish investment fund assets rise by E605m
DENMARK – Net assets in Danish investment funds increased by 4.5 billion Danish crowns (605 million euros) in the month to the end of July, according to data from the Federation of Danish Investment Associations.
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Swiss unions protest at pension “robbery” by insurers
SWITZERLAND – Members of the Swiss industrial and building union, SIB, have protested against plans by Winterthur to lower pension conversion rates and hike premiums - with one official likening the matter to robbery.
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Russell/Mellon CAPS hires ex-DeAM marketer Jasani
UK – Russell/Mellon CAPS has bolstered its marketing team with addition of Bella Jasani and Tony Novo.
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UK’s Singer says hit by consultants’ changes
UK – Banking and fund management firm Singer & Friedlander says it has lost several institutional mandates as a result of shifts in strategy by consultants and asset allocation by clients.
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Credit Suisse AM sees asset-allocation role
EUROPE – Institutional investors will increasingly seek asset-allocation advice from their fund managers rather than from their consultant, believes Credit Suisse Asset Management.
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Swedish pension funds and euro set for debate
SWEDEN - There's to be a debate in Stockholm about the possible impact of the forthcoming euro referendum will have on Swedish pension funds.
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Unilever’s missing vote mystery partly solved
UK/NETHERLANDS - US proxy voting agency Institutional Shareholder Services has admitted to being partly responsible for the millions of lost votes at Unilever’s annual meeting.
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Railpen hires ex-ISIS director Watts
UK - Railpen Investments, the investment arm of the UK Railways Pension Trustee Co., has hired Polly Watts, a former director of institutional funds at ISIS Asset Management.
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Watson Wyatt Co. reveals “billing irregularities”
US – The US arm of pension consulting firm Watson Wyatt has postponed its fourth-quarter earnings report after disclosing “billing irregularities”.
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Allianz: still no asset management profits
GERMANY – Allianz Group’s asset management business is still unprofitable, despite increasing its assets by 3.1% over the first half of this year to 1.02 trillion euros.
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Sweden’s SEB posts E287bn profit as AUM rises
SWEDEN – SEB Group has announced net profit of 2.64 billion Swedish crowns (287 million euros), and an increase in assets under management for its fund units.
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UBS GAM says its institutional margins rise
SWITZERLAND – The margins on UBS Global Asset Management’s institutional business rose to 35 basis points in the second quarter, up from 29 basis points in the first quarter of the year.
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Insight multi-managers move to Gartmore
UK – Insight Investment has lost its five-strong multi-manager team to Gartmore Investment Management – though Insight says its multi-manager conviction is “unchanged”.
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SEI expands its institutional team
UK – SEI Investments has expanded its institutional team with the creation of three new roles, including a new appointment.
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Axa Investment Managers’ earnings fall 6%
FRANCE – Axa Investment Managers’ earnings and revenues declined by six percent and 13.7% respectively in the first half, according to Axa Group’s first-half earnings report.
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Institutions lift German spezialfonds investment
GERMANY – Institutional investment into German spezialfonds increased in the second quarter of 2003, according to new statistics from the BVI Bundesverband Investment and Asset Management.
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ISIS dismisses "arbitrary benchmarks"
UK - The chief investment officer at ISIS Asset Management wants the investment industry to rethink its views on benchmarking to an index.
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SWIP hires again from Edinburgh Fund Managers
UK – Beleaguered Scottish fund manager Edinburgh Fund Managers has lost another of its UK equity team to rival Scottish Widows Investment Partnership.
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Pension funds want fixed fees – Watson Wyatt
EUROPE – The head of Watson Wyatt’s European investment practice, Nick Watts, says there is a “strong appetite” among its pension fund clients for fixed investment-management fees.
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Foreign firms top Austrian fund of funds market
AUSTRIA – Foreign providers of funds of funds have increased their share of the Austrian market, with US houses now dominant.
