Asset Managers – Page 375
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News
Threadneedle relocates UK property fund to Jersey
JERSEY/UK- Threadneedle Investments has formed the Threadneedle Property Unit Trust by relocating the former Sackville Property Unit Trust from the UK to Jersey. Prior to the switch, the £110m fund was only open to UK pensions and charities. The move to Jersey will open it to a broader range of ...
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Northern Trust names new product development head
UK- Northern Trust Global Investment Europe has appointed Andrew Edgington as director of product management and development. In the new role he will work with chief operating officer Nick Ring and product manager Chris Turpin in developing new investment products as well as overseeing the existing product range.
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S&P to publish 2,200 funds' asset allocation data
GLOBAL- S&P Fund Services has announced it is to publish asset allocation data for more than 2,200 UK unit trusts, OEICs and offshore funds from the end of the month. The data, available on www.funds-sp.com, will show each fund’s top ten securities by name and percentage, portfolio allocations by industry, ...
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Brennen to replace Bolsover as CEO at Baring AM
UK – David Brennan has been appointed chairman and chief executive of London-based Baring Asset Management (BAM) with effect from July. He will replace John Bolsover who is retiring after 27 years with the firm.
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VGZ picks GSAM for e1bn fiduciary role
NETHERLANDS- Zorgverzekeraar VGZ, one of the largest specialised health insurers in the Netherlands, has appointed Goldman Sachs Asset Management as fiduciary manager for its entire investment portfolio worth almost e1bn. VGZ remains responsible for dictating the strategic investment policy but as fiduciary manager, Goldman Sachs will look after asset ...
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Polish pensions and insurance regulators merge
POLAND- Poland has merged its pensions and insurance regulators to create a “one-stop” financial services supervisor.
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Philipp steps down as head of Deutsche AM
UK- Michael Philipp is stepping down as head of Deutsche Asset Management in what is the latest of a series of senior departures at Deutsche Bank. Philipp’s deputy Thomas Hughes is replacing him as head of asset management and, as a result of the reshuffle, becomes a member of Deutsche’s ...
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NTMA names five managers for e8bn reserve fund
IRELAND- Ireland’s National Treasury Management Agency (NTMA) has announced a further five managers to help run part of the e8bn National Pensions Reserve Fund. It has appointed Capital International and Dresdner RCM Global Investors to run two e420m global equity mandates. In addition, Bank of Ireland Asset Management, Blackrock International ...
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FERI Trust enters UK with EFIS joint venture
GERMANY/UK- Germany’s FERI Trust, the independent wealth manager and fund analysis company, is teaming up with European Fund Information Services (EFIS) to launch a new London-based division FERI Fund Market Information (FFMI).
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Avon drops MLIM and Gartmore for underperformance
UK – The £1.5bn (€2.4bn) Avon Pension Fund has dropped Merrill Lynch Investment Managers (MLIM) and Gartmore from mandates worth almost £1bn (€1.6bn) for failing to achieve performance targets since they were appointed in 1997.
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Europe's top 400 manager list for 2001 published
EUROPE – Munich-based Allianz Dresdner Asset Management (ADAM), with €1,139bn under management, tops the list of Europe’s top 400 asset management firms, according to figures compiled by Investment & Pensions Europe Magazine (IPE) in its first survey of Europe’s €24trn asset management market.
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Threadneedle wins first local authority mandate
UK – Threadneedle Investments, the London-based investment management arm of Zurich Financial Services, has been appointed to run a £205m (€333m) UK equity high alpha mandate by the £1.7bn (€2.8bn) Bath & North East Somerset District Council pension fund.
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Fidelity names head of UK/European fixed income
UK- Fidelity Investments has appointed Martin Hall as executive director of fixed income, a job in which he will be responsible for the group’s UK and European fixed income. Hall is to work closely with head of fixed income investment Andy Jenkins in developing Fidelity’s business.
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Gartmore enters Spain with new Madrid office
SPAIN- Gartmore has recruited Victoria Huerta from Royal Sun Alliance Investment Management as head of its first office in Spain, due to open later this month.
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Lack of EU harmonisation is punishing institutions
UK/Europe - The tax and regulatory aspects of Europe are increasing the costs of investment managers, according to David Newton of PricewaterhouseCoopers in London. Both these issues reflect the extent to which the single market was not working and were “costing institutions a lot of money”.
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Royal London recruits Spiller as head of DC
UK- Royal London Asset Management has appointed Susan Spiller head of defined contribution sales as part of a move by the group to increase the volume of assets under management from defined contribution clients.
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East Riding issues RFP for £200m overseas mandate
UK – The £1.3bn (€2.1bn) East Riding of Yorkshire Pension Fund is looking for asset managers to run a £200m active overseas mandate. The pension fund is looking to appoint up to three managers to take care of the portfolio which contains European, Japanese and North American equities. Its current ...
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Robeco to acquire Transtrend in alternatives push
NETHERLANDS – Rotterdam-based asset management group Robeco is to acquire Transtrend, a hedge fund manager and futures trading company, as part of its strategy to expand into the alternative investment market, particularly in the area of single-manager hedge funds.
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IMA rounds on Myners and Kelly
UK – The Investment Management Association (IMA) has denied that a cosy relationship between fund mangers and brokers is penalising pension funds. In response to the allegations by Paul Myners and economic secretary Ruth Kelly at last week’s NAPF conference that the UK fund management community isn’t doing enough to ...
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Hermes appoints business development manager
UK – Hermes Focus Asset Management (HFAM), has appointed Corinna Arnold as business development manager international. Arnold, who will be based in London, will concentrate on co-ordinating international institutional support for HFAM in relation to its various shareholder engagement programmes, whereby HFAM invests in underperforming stocks.
