Asset Managers – Page 360
-
News
MLIM says it’s still winning European mandates
UK – Merrill Lynch Investment Managers says it is still winning “significant levels" of new mandates across Europe, despite a series of recent losses from UK local authority pension funds and its loss of the Merrill Lynch UK Investment Trust mandate.
-
News
Sweden’s AP3 taps CoreRatings for SRI
SWEDEN – The 13.9 billion euro AP Fonden 3 Swedish pension fund says it has hired consultancy firm CoreRatings to provide socially-responsible investing advice, adding that it will take an active role in the companies in which it invests.
-
News
Threadneedle to run e155m Russell equity mandate
UK - Threadneedle Asset Management has been appointed to run a 100 million pound (155 million euro) UK equity mandate for Frank Russell Co.
-
News
French bank merger “won’t be easy” – source
FRANCE – Credit Agricole’s 19.5 billion euro bid for Credit Lyonnais would create an entity with a combined 5.6 billion euros in European pension assets under management – though a source close to the deal says a merger won’t be easy because of the banks' different cultures.
-
News
Russell sees “substantial” European growth
SPAIN – Multi-manager specialist Frank Russell Co. says it has seen “substantial growth in Europe this year” - adding that it has been awarded 30 new institutional client mandates across Europe for its multi-manager funds so far in 2002.
-
News
Deutsche segregates e3.6bn in pension obligations
GERMANY - Deutsche Bank has segregated 3.6 billion euros of its German employee pension obligations, removing them from the balance sheet and creating a separate fund that will be managed by Deutsche Asset Management.
-
News
Merrill Lynch loses $543m Calpers bond mandate
US – The 128 billion dollar California Public Employees' Retirement System, Calpers, has dropped Merrill Lynch Investment Managers from its international fixed income manager line-up. MLIM had been managing a 543 million dollar portfolio, accounting for 8.73% of Calpers’ entire fixed income portfolio.
-
News
Downturn forces Nordea IM to cut 15% of staff
SWEDEN – Nordea Investment Management, the fourteenth largest manager of European pension fund assets, says it will cut its payroll by 55 or 15% due to the “continued unfavourable business environment”.
-
News
UK’s IMA seeks European policy analyst
UK – The UK-based Investment Management Association, a trade body for the asset management industry, says it is looking to hire a European policy analyst as it takes on a greater role in Europe.
-
News
AP4 awards e384m Japan mandate to Martin Currie
SWEDEN – Fjarde AP-Fonden, the 13.4 billion euro Swedish state pension fund, has named three managers for Japan and Asia-Pacific equities mandates – Martin Currie, Capital and APS.
-
News
Mellon the winner in HVB multi-manager launch
GERMANY – Mellon Financial Corp. is the biggest winner in HVB Group’s decision to launch the first ever German multi-manager programme for institutional clients, by winning seven of the 24 asset management slots available as well as other business, including custody.
-
News
Britannic Asset Mgmt to cut one in eight jobs
UK – Glasgow-based Britannic Asset Management is to lose 12.5% of its staff in a bid to cut costs. Cuts will be across the board, with estimates of 40 redundancies in total.
-
News
Norway’s Storebrand rejigs management
NORWAY – Insurer and pensions provider Storebrand says it is to revamp its management following the merger with private bank Finansbanken.
-
News
Mutual funds are best channel for Italy - Cerulli
ITALY – The Italian mutual fund advisory programme market is the most effective way to penetrate the Italian asset management market, says Boston-based asset management research and consulting firm, Cerulli Associates.
-
News
UK: Schroder Property wins Tower Hamlets mandate
UK – UK local authority Tower Hamlets’ pension fund is to switch its 40 million pound (62.6 million euro) property allocation to a property unit trust run by Schroder Property Investment Management.
-
News
Netherlands’ Gamma awards Russell e175m mandate
NETHERLANDS – Dutch textiles company Gamma Holding has appointed multi-manager specialist Frank Russell to manage a 175 million euro equity and bond portfolio for its 340 million euro pension fund.
-
News
AXA, Societe Generale in French custody pact
FRANCE – The French arms of AXA Investment Managers and Societe Generale Asset Management have formed a joint venture to provide custody services for the two associations’ employee company savings accounts (epargne salariale).
-
News
Mellon unveils UK custody operation
UK – Financial services company Mellon Financial Corp. says it plans to launch a UK custody operation towards the end of the first quarter of 2003, ending its two-year relationship with sub-custodian Clydesdale Bank.
-
News
HBOS names managers at Rothschild Asset Management
UK – HBOS’s investment arm, Insight Investment Management, has announced its new senior management structure following the acquisition of Rothschild Asset Management this week.
-
News
HBOS confirms e98m acquisition of Rothschild AM
UK – Rothschild’s asset management arm has officially been sold to HBOS’s fund management arm, Insight Investment Management, for 61 million pounds (95.8 million euros).
