Asset Managers – Page 341
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LPFA on prowl for global custodian
UK – The 2.5 billion pound (3.6 billion euro) London Pension Fund Authority (LPFA) has put out a tender for a global custodian.
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Aegon to cut up to 450 jobs in revamp
NETHERLANDS – Aegon is to cut up to 450 jobs in a consolidation of its business units...
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ABN AMRO Mellon wins E7.9bn Newton custody deal
UK – Newton Fund Managers, the UK asset management subsidiary of Mellon Financial Corp., has appointed ABN AMRO Mellon Global Securities Services as custodian for its exempt and private investment management fund ranges.
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T. Rowe Price hires former ADAM CIO
UK – Laurence Linklater, former chief investment officer at Allianz Dresdner Asset Management, has been appointed by T. Rowe Price International.
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BAE names Northern Trust as pension custodian
UK – Defence group BAE Systems has appointed Northern Trust as global custodian for its pension funds...
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F&C to outsource institutional admin to Mellon
UK – F&C has announced it is in exclusive discussions to outsource the administration of its 60 billion-euro institutional business to Mellon Global Securities Services...
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FERI launches European fund data product
EUROPE - Fund groups in Europe no longer have to work blind as a result of a new data product, claims Rodney Williams, managing director of London-based FERI FMI...
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Portuguese pension funds net buyers of equities
PORTUGAL – Pension funds in Portugal were net buyers of equities in the first quarter, according to new data from Watson Wyatt.
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Pioneer Alternatives opens London office
EUROPE - Pioneer Alternative Investments has opened a London office as part of an ambitious expansion plan.
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State Street says 3,100 take voluntary redundancy
US – State Street Corp. says that 3,100 of its employees have opted to take voluntary redundancy – more than it expected. A spokesman said the cuts would all be in the US.
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LGIM is largest UK pension fund manager - report
UK – Legal & General Investment Management is now the largest manager of pension fund assets in the UK, with 60.4 billion pounds (87 billion euros) under management, according to Hymans Robertson.
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ADAM names Luxembourg operating chief
LUXEMBOURG – Allianz Dresdner Asset Management Luxembourg’s new chief operating officer is Jean-Christoph Arntz.
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Staffordshire taps Goldman for asset allocation
UK – Staffordshire County Council has appointed Goldman Sachs Asset Management to run a 970 million pound (1.4 billion euro) asset allocation mandate for its pension fund. The total fund size is 1.3 billion pounds (1.9 billion euros).
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Credit Lyonnais AM to launch SRI subsidiary
FRANCE - Crédit Lyonnais Asset Management is to make a full-scale sortie into the arena of socially responsible investment with the launch of a new subsidiary called Integral Development Asset Management, or IDEAM.
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Baring AM’s Mantel leaves to start hedge fund
UK - European pensions expert Jan Mantel has left Baring Asset Management, where he was head of the UK and European equity team, to start his own hedge fund.
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European institutions shun consultants - poll
EUROPE – A new poll has found that 67% of European institutional investors do not employ the services of an external investment consultant.
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DeAM sets up transition management team
UK – Following demand from institutions, Deutsche Asset Management has set up a team dedicated to transition management.
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Cardiff tenders two mandates worth E158m
UK – Cardiff County Council in Wales is tendering two mandates for its pension fund valued at 109 million pounds (158.6 million euros).
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Credit Suisse AM UK bond director leaves
UK – Credit Suisse Asset Management’s director of UK fixed income, Kevin Adams, is to rejoin Henderson Global Investors.
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Edinburgh Fund Managers in bid talks
UK - Edinburgh Fund Managers has confirmed that it is reviewing its options and that it is in bid talks.
