Asset Managers – Page 369
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Dutch funds' PZH picks Vanguard for e450m mandate
NETHERLANDS- PZH, the body working on behalf of six medium-sized Dutch funds that began co-ordinating their operations earlier this year, has awarded Vanguard Investment a e450m passive mandate.
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Metcalfe joins Hermes as business development head
UK- Hermes, the £46bn investment manager owned by the British Telecom pension fund, has appointed Charlie Metcalfe as head of business development and deputy chief executive.
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Style Research hires Peter Hopkins from Baring AM
UK – London-based equity research and portfolio analysis firm, Style Research has appointed Peter Hopkins as a new partner in its London office.
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Pioneer hires Citigroup for e30bn custody mandate
US/LUXEMBOURG – Global financial services company, Pioneer Investments, has appointed Citigroup Global Securities Services as global custodian to its $30bn (€30.3bn) Luxembourg-domiciled mutual fund business.
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SWIP appoints de Bruijn from Shell pension fund
UK – Edinburgh-based asset management group, Scottish Widows Investment Partnership (SWIP), has appointed Jan de Bruijn as a senior fund manager to its Asia and merging markets team. De Bruijn will join SWIP in August.
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F&C appoints head of Dutch operation
NETHERLANDS- Henk Breukink has been named as head of F&C Management’s operations in the Netherlands as of next month. Breukink has been interim head of the Dutch operation since last November and he takes over the job from chairman of the board Alain Grisay.
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CLAM Spiders authorised for UK market
EUROPE/UK – The SPDR Europe 350 and SPDR Euro exchange traded funds (ETFs), the ETF range launched in a joint venture earlier this year between index provider Standard & Poor’s (S&P) and French investment management group, Crédit Lyonnais Asset Management, have been authorised for sale in the UK.
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Italian fund looks for administration provider
ITALY – The €25m Italian railways workers’ pension fund, Eurofer, is looking to appoint an administration and accounting services provider ahead of issuing a full RFP for the investment management of its assets.
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Pictet names UK/Europe business development head
UK- Specialist investment manager Pictet Asset Management has appointed Jonathan Hayes as head of business development for the UK and Northern Europe.
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Transaction cost analysis saves coal fund e775,000
UK- The e11bn British Coal Staff Superannuation Scheme is in discussions with two of its managers- Schroder Investment Management and Edinburgh Fund Management- as to how they can cut transaction costs after it emerged that Goldman Sachs Asset Management saved the scheme e775,000.
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Gartmore enters hedge fund business
UK – London-based investment management group, Gartmore, has acquired New Jersey-based hedge fund of funds management firm, Riverview International Group, for an undisclosed sum.
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PRICOA rejigs €195m property fund in Europe drive
UK/EUROPE – London-based PRICOA Property Investment Management, the European arm of New Jersey-based Prudential Real Estate Investors (PREI), has restructured its €195m Pan-European Property Unit Trust fund into an open-ended limited partnership as part of its European expansion.
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Morley wrests €1.3bn RBS funds mandate from Newton
UK- London based asset manager, Morley Fund Management has won a £860m (€1.3bn) mandate from the Royal Bank of Scotland (RBS) to run the bank’s bancassurance funds. Morley replaces Newton Investment Management following a beauty parade organised by consultancy firm, Watson Wyatt.
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ill health forces Dunn to step down as BGI CEO
US/UK – Barclays Global Investors (BGI) have announced the appointments of Blake Grossman and Andrew Skirton as Co-Global CEOs following the decision of Patricia Dunn to step down as Global CEO.
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Willis joins forces with ABN Amro and Alfred Berg
DENMARK- Benefit consultant Willis Denmark has signed an agreement with Alfred Berg and ABN Amro Asset Management in a move that gives its unit link clients access to tactical and strategic asset allocation. Willis says the agreement is designed to offer a more comprehensive and sophisticated product.
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Multi manager industry to double to $1trn by 2007
GLOBAL- Investments worldwide in multi-manager products are set to double to over US$1 trillion by 2007 according to proprietary data and analysis from the US research and consultancy firm Cerulli Associates.
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Morley hires ex-Schroders head of UK equities
UK- Morley Fund Management has hired Bill Baker to run a range of UK pooled and segregated pension funds. Baker joins as a senior member of the 11-strong UK equities team in September and will report to Mike Bishop, head of pan European equities.
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Merrill Lynch IM adds to its global equities team
UK- Merrill Lynch Investment Managers has appointed Peter Abbott as a fund manager in its global equities team. Abbot joins next month from Newton Investment Management and will report to Ian Rowley, head of global equities.
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Shropshire council dumps Schroders for F&C
UK- Shropshire County Council’s £630m pension fund has dropped Schroder Investment Management and appointed F&C Management to run a £30m (e47m) global emerging markets equity mandate.
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Investec hires new head of client relations
UK- Investec Asset Management has hired Belinda Morrisey to fill its newly-created position of head of client relations. She reports to Mark Samuelson, global head of institutional business development and Andrew Peake, head of UK client service.
