Asset Managers – Page 346
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Schroders in European property push
EUROPE – Schroders Property Investment Management is making a push into Europe, joining two European property associations, and adding one member to its team.
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European boost for Aon consulting revenue
EUROPE – Aon says its consulting revenue in the first quarter was boosted by good growth in Europe and the UK.
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Amex, Threadneedle decline comment on report
UK – American Express is reported to be close to finalising a deal to buy Threadneedle Investments – though all parties are declining comment.
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State Street to provide custody to Aon
IRELAND – State Street Corp. Dublin has been appointed to provide investment services to Aon Asset Management.
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AXA’s UK pensions arm names Evans CEO
UK – AXA Sun Life, the UK life and pensions arm of the AXA group, has appointed Paul Evans as chief executive, following the departure of Andy Haste.
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UK-US treaty “significant” for pension funds
UK – A new treaty between the UK and US on double taxation has been hailed as a “significant development” for pension funds by HSBC’s actuarial arm.
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Allianz’s PIMCO launches eight funds for Europe
EUROPE – PIMCO has launched eight new specialist pooled fixed income funds aimed at institutional investors across Europe.
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Trustees lift interest in multi-management
UK – Trustees are becoming more interested in multi-manager products, says the head of a multi-manager trade group.
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LGIM wins E4bn of new institutional business
UK – Legal & General Investment Management won 2.8 billion pounds (4.02 billion euros) of new business in the first quarter of 2003, six percent down on the same period in 2002.
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Deutsche says DeAM restructuring is now over
GERMANY – Deutsche Bank says the restructuring of its asset management business is now over.
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Mellon tops new UK fund accounting survey
UK – Mellon European Fund Services has been named top in the UK market for fund accounting and investment administration in the first survey of its kind by London-based R&M Consultants.
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ISIS sees asset management consolidation
EUROPE – “Active managers are competing for a smaller share of the pot”, but specialists and large managers will be the winners, says ISIS’s chief executive, Howard Carter.
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LGIM wins E394m Highland Council mandate
UK – The Scottish Highland Council pension fund has moved 272 million pounds (394.6 million euros) formerly managed by Rothschild Asset Management to Legal & General Investment Management following the acquisition of Rothschild AM by HBOS’s fund management arm, Insight Investment Management.
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Strathclyde in E1.52bn bond, equity tender
UK – The five billion pound Strathclyde pension fund has put out two tenders of up to 1.05 billion pounds (1.52 billion euros) following an asset liability study.
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DeAM plans new activist shareholder stance
GERMANY - Deutsche Asset Management says it plans to take an activist approach to the running of companies in which it owns significant holdings.
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ABN Amro asset management profit falls 26%
NETHERLANDS – Net profit at ABN Amro’s asset management division declined by 26.3% to 14 million euros in the first quarter.
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Pension funds targeted with new SLAM fund
UK – Swiss Life Asset Management UK is targeting pension funds wishing to gain global exposure to equity markets outside the UK with the launch of a new fund.
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Aegon sees benefit from demographic change
NETHERLANDS – Insurance and pensions provider Aegon says that the ageing population continues to “bode well” for its earnings for a long time to come.
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French asset managers increase SRI capability
FRANCE – French investment firms are rapidly expanding their socially responsible investment management capabilities, reveals a study by SRI information provider Novethic and consultant Amadeis
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UK’s BoS restructures e1.73bn pension fund
UK – Edinburgh Fund Managers and Baring Asset Management have lost their mandates for the Bank of Scotland’s 1.2 billion pound (1.73 billion euro) pension scheme as a result of a complete restructuring of the fund.
