Asset Managers – Page 366
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Morley beefs up institutional team with two hires
UK- Morley Fund Management has appointed two new heads within its institutional team. In a new role, Alistair Morrison will be heading up institutional business across the UK and Europe, and reporting to him will be Gordon Milne, head of client services. Both join Morley this month.
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Axa Rosenberg fills European CEO position
UK- Axa Rosenberg Investment Management has brought in Will Jump from its US office to take up the position as chief executive for Europe. Jump, who has been with Axa for twelve years most recently as its director of global product strategy, will report to the group’s overall chief executive ...
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Franklin hires Banz in Swiss institutional push
SWITZERLAND- Franklin Templeton Investments (FTI) has appointed Elzbieta Banz as marketing director for Switzerland in a bid to increase the size of its institutional business.
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AP3 completes €390m Far East manager search
SWEDEN – The SKr 130bn (€14bn) Third Swedish National Pension Fund, the AP3, has completed its asset manager search for Japanese and Asia Pacific (ex-Japan) equity mandates worth €390m with the appointment of Capital International, Shroders and JP Morgan Fleming Asset Management (JP Morgan) to its external manager roster.
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Scottish fund searches for specialist bond manager
UK- The Scottish Borders Council pension fund has put out to tender a new £44m (e69m) fixed-income specialist mandate. Between five and ten managers are expected to compete in the beauty contest, with a short-list anticipated by the end of September.
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Allianz hires Utermann as global CIO for equities
UK- Allianz Dresdner Asset Management (ADAM) has announced the appointment of Andreas Utermann who is joining the firm as global chief investment officer for its equity division.
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Baring AM gets approval to market funds in Denmark
DENMARK- Baring Asset Management has received regulatory approval to market 21 Irish-domiciled funds to the Danish institutional market.
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Deutsche AM names new head of Dutch operation
NETHERLANDS- Michel Alofs has replaced Gerard Roelofs as head of Deutsche Asset Management’s operations in the Netherlands after Roelofs left to spend more time with his family.
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Nordea shakes up asset management arrangement
DENMARK- Nordea Asset Management has announced it is centralising its European, US and global equity management in Copenhagen. At the same time it is centralising the management of Norwegian equities in Oslo while bringing its European fixed income operation to Copenhagen.
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ING reorganises asset management into regions
GLOBAL- ING Investment Management is to be introduced in ING’s regional businesses in the Americas, Asia/Pacific and Europe in a move that sees it rearranged along a regional basis.
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Deutsche AM's global CIO steps down
US- Global chief investment officer at Deutsche Asset Management Dean Barr is leaving after only three years with the bank in order to “pursue entrepreneurial opportunities outside the firm.”
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Sweden's AP2 drops 9.3% in six months to June
SWEDEN- Sweden’s second national fund AP2 has announced a first half decline in assets of 9.3% bringing the fund to Sek124.3bn (e13.6bn).
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Holdings in US fixed income up 50% in year to date
US- Holdings in fixed income in the US have already risen by more than 50% this year and now stand at $9.2trn according to a study of the institutional bond market by Greenwich Associates, the US research consultancy.
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Denmark's ATP shifts e2.9bn from equities to bonds
DENMARK- ATP, the DKK212.7bn (e28.7bn) Danish labour market supplementary pension scheme, has reduced its portfolio allocation in equities from 45% to 35% following negative second quarter results. During this period the listed equity portfolio lost 12.3%.
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UK railway fund to increase private equity holding
UK- Railpen, the UK railway £13bn (e20.3bn) pension scheme, is to increase its allocation to private equity from 2% to 5%, taking the level of investment from around £400m (e626m) to £750m (e1.17bn).
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JP Morgan Fleming loses e391m balanced mandate
UK- Cambridgeshire County Council’s pension fund has dropped JP Morgan Fleming Asset Management from a £250m (e391m) balanced portfolio. The scheme is now tendering for a new specialist global equity fund manager to take on £130m of JP Morgan’s old mandate.
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Shake up at US fund sees Rogge lose e611m mandate
US- A complete overhaul of asset allocation at the Illinois teachers’ retirement system (TRS) has thrown two mandates out to tender and led the fund to drop Rogge Global Partners from a $594m (e611m) international fixed income mandate.
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Bureau Bosch publishes Dutch manager rankings
NETHERLANDS- Foreign investment managers will soon overtake their Dutch counterparts in overseeing the country’s pension fund assets according to the 2002 report by consultant Bureau Bosch into the Dutch investment industry. The report covers 78 managers and is seen as a definitive guide to the Dutch pension fund investment market.
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Golman Sachs beefs up cash management team
UK- Goldman Sachs Asset Management has added to its cash management team with the appointment of Richard Norval as executive director with the European cash sales team.
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Greenwich tenders entire e750m fund
UK- The London Borough of Greenwich pension fund has tendered its entire £480m (e749m) portfolio, currently managed by Schroders and Deutsche Asset Management.
