Asset Managers – Page 351
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CoreRatings hires ex-Morley SRI head
UK – Socially responsible investing consultancy CoreRatings, which is part of the same group as Fitch Ratings, has named Anne-Maree O'Connor as its new head of research.
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Europe’s pension market “to grow by 7.5% a year”
EUROPE – European second and third pillar pension markets are expected to grow at an annual rate of 7.5% until 2010 - taking assets to 510 billion euros, says Allianz Dresdner Asset Management (ADAM).
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UK’s Windsor tenders up to e115m equity mandate
UK – The UK borough of Windsor and Maidenhead is putting out to tender a mandate of between 50 million and 80 million pounds (72-115 million euros) to be invested in global equities for its 800 million pound (1.1 million euro) pension fund.
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Unigestion swings to profit, goes private
SWITZERLAND - Swiss alternative investments firm Unigestion – reporting a swing to profit in 2002 - is to take itself into private ownership.
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Attica to run e72m McCain portfolio
UK – The McCain Foods pension and life assurance scheme has appointed multi-manager Attica Asset Management to manage its entire portfolio of around 50 million pounds (72.6 million euros) in assets.
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Fortis hires SocGen bond head
FRANCE – Fortis Investment Management has appointed Emeric Challier as chief investment officer of its Euro fixed income investment centre in France.
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SEI hires UK sales chief from Lombard Odier
UK – US-based asset manager SEI Investments has hired an executive from Swiss private bank Lombard Odier Darier Hentsch as its new head of UK institutional sales.
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Irish managed funds fall 21% - Mercer
IRELAND – Group pension managed funds declined by more than 21% in the year to the end of February, according to data provided by Mercer Investment Consulting.
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ECB rate cut raises pressure on pension funds
EUROPE – The European Central Bank’s quarter-point rate cut today is likely to increase the pressure on pension funds, analysts said.
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Germany to end fund discrimination
GERMANY – German finance minister Hans Eichel announced today that as of 2004 foreign funds will no longer be discriminated against, following pressure from asset managers, organisations and the European Parliament.
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Pioneer to offer hedge funds in UK
UK – Pioneer Investments, UniCredito’s fund management arm, is to offer its range of hedge funds to UK institutional investors.
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HSBC AM hires Schroders’ Rodgers
UK – HSBC Asset Management has hired Chris Rodgers from Schroder Investment Management to be its head of UK equities.
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W. Sussex tenders custody mandate
UK – The southern English county council of West Sussex has tendered a mandate for a global custodian for its 710 million pound (1.03 billion euro) pension fund.
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Dutch pension coverage law under scrutiny
NETHERLANDS – Representatives of Dutch employers and employees have written to the government seeking a change in the law regarding pension fund coverage ratios.
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Credit Suisse hires ex-ABB pension chief
SWITZERLAND – Christoph Schenk, the former chief executive of ABB’s pension fund unit has joined Credit Suisse Asset Management as its new chief investment officer in Switzerland.
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UBS wins top European fund award
LUXEMBOURG – Swiss bank UBS has been named the “best overall” European fund promoter in the second annual European Funds Awards.
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Ex-Watson Wyatt consultant joins Paamco
EUROPE – Stephen Oxley, former senior investment consultant at Watson Wyatt is to head up Pacific Alternative Asset Management Company’s (Paamco) new European hedge fund of funds operations in London.
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TRW investment chief MacDougall leaves
UK – William MacDougall, the managing director of TRW Investment Management Co. Ltd., has left and is being replaced on a temporary basis by Jeremy Brown.
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Spanish occupational pension assets up 12.3%
SPAIN – The assets under management at Spanish occupational pension schemes rose 12.31% to 21.15 billion euros at the end of 2002, according to figures released by Inverco, the Spanish association of institutional investors and pension funds.
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E193m Fondenergia seeks seven managers
ITALY – Fondenergia, the 193 million euro Italian pension fund for energy and power workers, is looking for seven managers to run the entire fund, which will be split into three mandates.
