Asset Managers – Page 373
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UBS Foundation enters multi-manager market
SWITZERLAND – UBS Global Asset Management has launched three new multi-manager sub-funds, the BVG range, in the SFr10.9bn (€7.5bn) UBS Foundation, the group’s investment foundation for the assets of its pesnion fund clients.
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CIE names replacements for AIB on e1.2bn mandate
IRELAND – The €1.2bn pension fund of the Irish state public transport company, Coras Iompair Eireann (CIE) has appointed Irish Life, Capital International and Bank Of Ireland Asset Management to each run a €400m global balanced mandate.
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UBS and LSE launch 5 year pension research project
UK / EUROPE – UBS Global Asset Management and the London School of Economics (LSE) have launched a new research programme to assess the state of the savings and pensions industries across Europe. UBS will provide financial backing for the five-year project.
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Scottish Widows appoints head of US business
UK/US- Edinburgh-based asset management company, Scottish Widows Investment Partnership (SWIP) has appointed John Griffith as head if its North American business as part of the firm’s strategy to expand its business in the region.
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Fortis appoints Dexia's Rigoulet
FRANCE – Fortis Investment Management in Paris has appointed Thierry Rigoulet as head of institutional clients for France as part of its strategy to centralise asset management operations in Paris.
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Two thirds of UK DB providers rule out DC by 2007
UK- More than two thirds of the UK’s largest final-salary pension scheme providers have said they will not move to a defined contribution (DC) pension scheme in the next five years according to research by JPMorgan Fleming Asset Management.
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US managers want more transparency from analysts
US – Almost half of US portfolio managers want to direct more of their business to brokers that don’t have a conflict of interest between their research and investment banking operations, according to Connecticut-based consulting firm, Greenwich Associates.
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Hermes invests in new Osprey property fund
UK – Hermes Property Asset Management and Bank of Scotland Corporate Banking are among the investors in the newly-established Osprey Limited Partnership, a high-yielding, commercial property fund with a target size of £300m (€485m). The fund starts life with an initial investment of £12m but the amount invested by Hermes ...
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Six Dutch pension schemes to merge activities
NETHERLANDS- Six of the Netherlands’ medium-sized funds have announced they are to co-operate and to bring together every aspect of running the schemes including investment management, custody, administration and IT systems.
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Mellon hires Threadneedle's marketing director
UK- Mellon Global Investments (MGI), the distribution subsidiary of Mellon Financial Corporation, has appointed Threadneedle’s Alan Mearns as head of global marketing.
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New Star launches Dublin umbrella fund
IRELAND- New Star International is launching six actively managed funds offering three currency classes of share. The Dublin based OEIC, New Star global investment funds, will give investors access to New Star's fund managers.
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Frank Russell adds Suffolk to multi manager roster
UK- Frank Russell Company has added New York-based Suffolk Capital Management to its roster of investment managers. The multi manager hired Suffolk to work on the Dublin and Cayman-domiciled US equity funds worth a respective $1.3bn and $420m.
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Yorkshire hands e900m to Schroders and Western
UK – The £865m (€1,407m) Yorkshire Electricity Group pension scheme has carried out a strategic asset allocation review that has led to the appointment of Schroders and Western Asset Management to run two new £280m (€455m) sterling fixed income mandates.
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Punter Southall hires Forest-Jones from Aon
UK – Consulting actuaries firm, Punter Southall has appointed Graham Forest-Jones as group marketing director to its London office. The move follows the recent appointment of Graeme Muir as head of the group’s public sector pensions department.
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AXA IM promotes Moreau to CEO
UK- AXA Investment Managers, one of Europe's largest fund managers, has announced the appointment of Nicolas Moreau as chief executive.
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JP Morgan's Lowrie joins Newton IM
UK – London-based Newton Investment Management has appointed Audrey Lowrie as a fund manager with responsibility for UK institutional equities and global multi-asset portfolios.
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Investec adds to London-based institutional team
UK - Investec Asset Management has won three new mandates worth £218m (€355m) and announced two new senior appointments to its London-based institutional marketing team.
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Reform to Italy's closed pensions hits trouble
ITALY - The pensions reform package to the closed pensions market in Italy has run into trouble and is unlikely to be passed, warns Roberto Casanova at Milan-based financial consultants IAMA Consulting. Were the package passed, IAMA predicts assets under management in the closed pension fund industry will grow ...
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Stamford opens multi manager to UK market
GUERNSEY/UK- Stamford Asset Management is opening up its Guernsey-based collective investment scheme, the multi-manager investment programme (MMIP), to the UK institutional market.
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NTMA announces seven managers for final e2bn
IRELAND- Ireland’s National Treasury Management Agency (NTMA) has announced the final seven managers to run the unallocated e2bn of the National Pensions Reserve Fund’s e8bn in assets.
