Asset Managers – Page 373
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T Rowe launches global equity fund in Europe
EUROPE – Baltimore-based global investment management firm, T. Rowe Price has launched the T. Rowe Price global equity fund which is now available to investors in Luxembourg, Germany, Denmark, Norway and Sweden.
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Kirschenhofer is new Siemens asset management head
GERMANY- Klaus Kirschenhofer has joined Siemens’ corporate finance treasury in Munich after over seven years with Wacker-Chemie as a pensions investment manager and member of the board.
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Zurich completes Deutsche deal in Italy and Iberia
SWITZERLAND/GERMANY – Zurich Financial Services has closed on the acquisition of Deutsche Bank’s life insurance operations in Italy, Spain and Portugal as well as the sale of its asset management operations in Germany and Italy to Deutsche Bank.
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Multi manager SEI goes it alone in France
FRANCE- Multi manager SEI Investments has bought Crédit Commercial de France’s 50% share of their two-year-old joint venture, CCF-SEI Investments.
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SwissAir names five sub-fund managers for e600m
SWITZERLAND- SwissAir has announced the names of managers appointed to run e600m in five sub-funds belonging to the recently restructured pension scheme. The fund has appointed managers to five mandates, each valued at approximately e120m.
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SGAM poaches senior UK equity managers from UBS
UK- UBS Global Asset Management has suffered the departure of two senior investment managers to Société Générale Asset Management, the fund manager co-founded by Nicola Horlick.
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France's épargne market to rise 300% by 2017
FRANCE – The growth in the épargne salariale company savings scheme market in France could see assets under management grow from their current level of €60bn to €200bn in the next ten to fifteen years, says Pierre Schereck, retail director of company savings at Crédit Lyonnais Asset Management (CLAM) speaking ...
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Davis appointed to review pensions regulator Opra
UK- Occupational pensions regulator Opra is to undergo a review of its functions, role and management. The department for work and pensions has appointed former CEO of Nationwide Building society Brian Davis to lead a performance review.
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SWIP enters Italian agreement with Cofiri Sim
UK / ITALY – Edinburgh-based Scottish Widows Investment Partnership (SWIP) has entered into a cooperation agreement with Italian investment bank, Cofiri Sim, to pursue new business opportunities in the segregated institutional asset management market in Italy.
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Meijer builds back office for European schemes
NETHERLANDS- Former Shell pension fund treasurer Robert Meijer is launching an integrated back office system for pension funds in Europe. Meijer, now an independent consultant, along with an IT company, an accountancy firm and a software house began developing the system two months ago.
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Pension funds may have to insure group risk
UK – Insurance companies are currently looking at their minimum aggregate exposure levels to group life insurance with a view to setting it at £100m (€161m) per event or geographical location, according to Mercer Human Resource Consulting.
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Dresdner RCM promotes Doyle to consultant role
UK – Dresdner RCM Global Investors has promoted Frank Doyle as head of global consultant relations, with Eilish O’Hagan taking over Doyle’s previous position as head of institutional sales, UK and Ireland.
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Van Bakel to replace Huibrechtse at SFB
NETHERLANDS – Jan van Bakel has been named as the new director of investments with the e18.4bn Amsterdam based SFB Vermogensbeheer group, the third party asset management outfit created by the Dutch industry-wide pension fund for building workers.
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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.
