Asset Managers – Page 339
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News
Aberdeen cancels sale of property arm
UK – Aberdeen Asset Management has announced it will not sell Aberdeen Property Investors to British Land Co. and that it will retaining the business.
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French reserve fund tenders mandates
FRANCE – The Fonds de Reserve pour les Retraites has now put out to tender the mandates for the entire 16 billion-euro retirement reserve fund.
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Hackney seeks actuary and property manager
UK – The London borough of Hackney is looking for an actuarial consultant and a property fund manager for its 340 million-pound (486 million euro) pension fund.
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Higham Black Mountain names senior actuary
UK – Higham Black Mountain is expanding its pension administration and consultancy services with the addition of Paul Jayson.
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Institute blasts failure of German Riester reform
GERMANY – “The Riester reform has failed” and “Germans must save more” – this is the message from the German Institute for Retirement Provision.
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Deutsche to strengthen global asset management
GERMANY – Deutsche Bank says it wants to strengthen its global asset management business, though it is ruling out acquisitions for now.
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Jupiter under scrutiny in Somerset revamp
UK – Somerset County Council’s 600 million pound (855 million euro) pension fund has put out two tenders for a UK bond mandate and a UK property manager of managers mandate following an overhaul of its investment strategy.
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Insight hires Schroders’ European research head
UK - Insight Investment has hired Schroder Investment Management’s head of pan-European research, Nick Anderson, to be its new head of equity research.
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Belgacom names four global equities managers
BELGIUM – The 3.3 billion-euro pension fund for telecoms operator Belgacom has appointed four managers to run a new international equity portfolio.
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AXA asset management revenues slip 12.3%
FRANCE/US – AXA Group’s asset management subsidiaries’ revenues declined by 12.3% over the first half of 2003.
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ISIS hit by shift from balanced mandates
UK - ISIS Asset Management says it has been hit by the trend away from balanced mandates.
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Morley ousts J P Morgan at National Grid fund
UK – The National Grid pension fund has appointed Morley Fund Management to run a 300 million-pound (424 million euro) fixed income mandate, resulting in a loss for J P Morgan Fleming Asset Management.
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Putnam hires J P Morgan bond researcher
EUROPE – Putnam Investments has hired Maria Garcia Lomas from J P Morgan for its European corporate bond research team.
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Mellon GSS hires two for Dublin fund operation
IRELAND – Mellon Financial has made two appointments in its Dublin-based asset servicing arm, Mellon Global Securities Services.
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Northern Trust hires State Street’s Chapman
UK – Northern Trust has appointed Paul Chapman as head of global fund services relationship management.
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Universal-Investment’s former MD Guhr dies
GERMAN Y – The former managing director of German asset manager Universal-Investment, Hans-Martin Guhr, has died at the age of 65.
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T. Rowe says well positioned for institutions
US - T. Rowe Price Group says it is well positioned for institutional investors following a 3.8% rise in profits.
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UBS GAM global investment chief to retire
GLOBAL – The global chief investment officer of UBS Global Asset Management, Jeffrey Diermeier, is to retire.
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LGIM profits rise 8.7% as assets rise
UK – First-half profits at Legal & General Investment Management have risen 8.7% - with assets under management going up to 123 billion pounds (173 billion euros).
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Mercer’s revenues rise 16% to $690m
US – Consulting firm Mercer has seen its quarterly revenues rise by 16% - though sister company Putnam Investments has posted lower revenues.
