Asset Managers – Page 353
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Baillie Gifford to run $1bn for Vanguard
US/UK – Baillie Gifford has been appointed to run approximately one billon dollars in assets for the 5.4 billion dollar Vanguard International Growth Fund.
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ABP hails “very rewarding” tie with SSgA
NETHERLANDS – Stichting Pensioen Fonds ABP, Europe’s largest pension fund, says its two-year partnership with State Street Corp. in the State Street Global Alliance has proved “very rewarding”.
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Deutsche buys Swiss asset manager
GERMANY/SWITZERLAND – Deutsche Bank has announced that it will be wholly acquiring Swiss private bank and asset manager, Rued, Blass et Cie. from its parent company Zurich Financial Services.
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Edinburgh Fund Managers names new chairman
UK – Edinburgh Fund Managers has appointed Charles Nunneley as non-executive chairman following a board shake-up at the end of 2002 when four non-executive directors resigned and the chief executive was removed.
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Nordea Swedish pensions head to leave
SWEDEN – The head of Nordea’s life and pensions division in Sweden, Gunnar Andersson, is to leave on April 1 by “mutual agreement”.
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NAPF hires ex-JPM chief for corporate governance
UK – The National Association of Pension Funds has appointed Geoff Lindey, ex-head of UK institutional investments at JPMorgan Investment Management, as strategic advisor to its corporate governance team.
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New Italian construction fund seeks custodian
ITALY – Prevedi, the new voluntary pension fund for employees in the industrial and building trades, has launched a beauty contest for a custodian and administration services provider.
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Martin Currie hires private equity head
UK – Martin Currie has recruited Paul Murray of Deutsche Capital Partners to head up its private equity team.
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BNP Paribas 2002 profits fall 18%
FRANCE – BNP Paribas has reported an 18% fall in profits for 2002 to 3.295 billion euros from 4.018 billion euros in 2001. Assets under management also fell 6%.
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CDC tops French asset management survey
FRANCE – CDC Ixis Asset Management has been voted the top French asset manager by France’s largest institutional investors, according to a survey conducted by consultants Amadeis.
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New UK pensions consultant Epic spies niche
UK – In the current environment, you might think it would not be advisable to start a new pensions business, but Epic Investment Consulting thinks it’s found a worthwhile niche
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AXA asset management revenues decline 7.2%
FRANCE – AXA Group has reported a 7.2% decline in revenues in 2002 for its asset management businesses, AXA Investment Managers and Alliance Capital.
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Amvescap profits decline by 33% in 2002
US – US-Anglo fund firm Amvescap, the holding company for AIM and Invesco, has reported a 33% fall in pre-tax profit for 2002.
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CDC Ixis Asset Management names France CEO
FRANCE – CDC Ixis Asset Management has reorganised its senior management, and appointed Thierry Dissaux as chief executive officer for France.
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AIMR hosts forum on European investor confidence
EUROPE – The Association for Investment Management Research is to host an online forum on regaining shareholder confidence in the single European market.
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Martin Currie wins e76.3m Skandia equity mandate
UK – Life insurer Skandia has awarded a 50 million pound (76.3 million euro) specialist UK equity mandate to Martin Currie Investment Management.
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State Street “hits ground running” with Deutsche
US/GERMANY – State Street Corp. says it is “hitting the ground running” now that it has completed the “primary closing” of its 1.5 billion dollar acquisition of Deutsche Bank’s securities services business.
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N. Trust to provide custody for new Insight fund
IRELAND – Insight Investment, the asset management arm of HBOS, has launched a sterling liquidity fund with securities services to be provided by Northern Trust.
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Mellon consolidates US fixed income businesses
US – Mellon Financial Corp. is merging three of its 14 institutional asset management businesses to form one of the largest fixed income managers in the US.
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Allianz renames its UK asset management arm
UK – Dresdner RCM Global Investors (UK) Ltd. has been renamed Allianz Dresdner Asset Management (UK) Ltd. with immediate effect.
