Asset Managers – Page 355
-
News
Italy’s Generali to develop asset management
ITALY – The Generali Group plans to develop its asset management business despite reporting first time losses for 2002 and plans to cut 2,800 jobs over the next three years.
-
News
Ex-Invesco CEO joins CSTIM board
UK – The former chief executive of Invesco UK, Hugh Ward, has joined the board of CSTIM, or Consulting Services to Investment Managers, as a non-executive director.
-
News
Switzerland’s Partners in venture with Sauerborn
GERMANY/SWITZERLAND – Swiss alternative asset manager Partners Group and German private asset manager and financial service provider Sauerborn Trust AG (formerly FERI Family Office AG) have launched a joint venture in Switzerland aimed at high net worth individuals.
-
News
RLAM names institutional sales manager
UK – Royal London Asset Management has named Barclays Global Investors’ client director Mark Willmott as its new institutional sales manager.
-
News
Credit Suisse Asset Management boosts UK team
UK – Credit Suisse Asset Management is boosting its UK fixed income team with the appointment of Fidelity’s Richard White as a portfolio manager.
-
News
UK: Higgs governance proposals welcomed
UK – A new set of proposals aimed at reforming the role of non-executive directors in UK companies has been broadly welcomed by the industry, though some say institutional shareholders will have to do their bit as well.
-
News
Germany to amend capital gains tax proposals
GERMANY – Proposals to apply a new capital gains tax to both profits that funds make on investments and gains investors make on the funds are to be amended.
-
News
Pensions on agenda at World Economic Forum
SWITZERLAND – The impact of pensions on government finances and financial markets is on the agenda at the World Economic Forum’s annual meeting in Davos, Switzerland this week.
-
News
Third of European asset managers to post losses
EUROPE – Thirty-six percent of Europe’s asset managers will report negative profitability for 2002, projects management consultant McKinsey & Co. in its 2002 asset management economics survey.
-
News
Swiss Life in outsourcing deal with State Street
BELIGUM – Swiss Life Asset Management’s Belgian operation has signed a letter of intent to outsource its back office functions to State Street, though the structure and fees of the deal are not yet finalised.
-
News
HVB’s Activest makes management changes
GERMANY - The Activest group, Germany’s sixth largest fund manager and the investment arm of HVB, has made changes at senior level following the departure of two of its executives.
-
News
Pru-Bache buys UK’s T&G investment advice arm
UK – UK stockbroker Teather & Greenwood has agreed to sell part of its investment management business to Prudential-Bache Ltd., the UK-based investment advisory business of Prudential-Bache International, for up to 3.65 million pounds.
-
News
Martin Currie wins e190m Edinburgh mandate
UK – The 1.7 billion pound City of Edinburgh Lothian Pension Fund has replaced Deutsche Asset Management and ISIS with Martin Currie as manager of a 125 million pound (189.7 million euro) specialist UK equity mandate.
-
News
AIMA names chairman as membership surges
UK – The Alternative Investment Management Association has named Christopher Fawcett as its new chairman, following a 34% growth in its membership.
-
News
AP2 appoints 13 external managers
SWEDEN - The 13.6 billion euro second Swedish national pension fund, AP2, has appointed what it calls a “network” of 13 external investment managers in 14 separate equity sectors – though no agreements about size of mandates has yet been reached.
-
News
Dutch pension funds slam PVK requirements
NETHERLANDS – The three main Dutch pension fund bodies have rejected pension fund regulator PVK’s requirements on cover ratios, calling them “unnecessary” and “bad for the economy”.
-
News
Watson says global pension assets decline 12%
GLOBAL – Watson Wyatt says global institutional pension fund assets fell by 12% to 1.4 trillion dollars in 2002, leaving many pension funds in the “difficult predicament” of facing pressure to get their balance sheets back in shape.
-
News
Edinburgh tenders e84m emerging market mandate
UK – The City of Edinburgh Lothian’s 1.7 billion pound (2.6 billion euro) pension fund, has put out to tender a specialist emerging market equity mandate for 55 million pounds (83.7 million euros).
-
News
Former MLIM managers launch UK fund firm
UK – A group of former fund managers at Merrill Lynch Investment Managers have launched a new specialist fund management company, Majedie Asset Management, to focus on the management of UK equities for pension funds and charities.
-
News
Germany’s BVI in pensions savings tax plea
GERMANY – Capital gains tax on long-term savings will discourage citizens that are preparing for an independent old-age pension, says Stefan Seip, head of the German investment fund association Bundesverband Investment und Asset Management (BVI).
