Asset Managers – Page 377
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SalesWatch to track cross-border fund sales
EUROPE/UK – London based mutual fund research company, SalesWatch, has launched SalesWatchOnline, an internet-based service designed and developed on behalf of Europe’s investment management community to research and track Europe’s cross-border fund selling operations and sales trends.
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BGI in new high return hedge fund launch
UK/IRELAND – Barclays Global Investors (BGI) in London has launched a new, high return market neutral hedge fund, a higher risk version of its UK equity market neutral fund.
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Spezialfond manager results show turbulent 2001
GERMANY- Germany’s Spezialfonds and their managers faced one of the toughest and most turbulent years in 2001 when the value of assets fell for the first time since the creation of the funds in the late 1960s.
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Concreto enters second phase of manager selection
ITALY – The Italian cement and building materials workers’ complementary pension fund, Concreto, is ready to enter the second stage of its manager selection process.
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Unico picks State Street to run 10 new index funds
GERMANY/LUXEMBOURG- Unico Asset Management, the Luxembourg-based subsidiary of Germany’s Union Fonds Holding has appointed two State Street divisions to service and manage its i-tracker funds, a series of index funds being launched at the beginning of march.
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Cambridge appoints Deustche for €1.6bn custody
UK – The £1bn (€1.6bn) Cambridgeshire County Council Pension Scheme has appointed Deutsche Bank as global custodian for its assets. The mandate was awarded following a formal tender process. There is no outgoing global custodian as the appointment is for a new position in line with the pension fund’s strategy ...
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PGGM on board for new e300m Hermes engagement fund
PGGM the e50bn Dutch fund for healthcare and social workers and the UK’s BT pension scheme are contributing to a e300m activist fund being launched by a subsidiary of the fund management group Hermes.
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SWIP bans soft commissions for pension clients
UK – Edinburgh based fund management group, Scottish Widows Investment Partnership (SWIP) has stopped soft commissioning, the ‘hidden’ brokerage charge, for its pension fund clients.
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AP7 bars 26 more groups from its portfolio
SWEDEN – The €2.6bn Seventh Swedish National Pension Fund, AP7, has sold its shares in 26 global companies, including CocaCola, General Motors, Unilever and BP Amoco, because it claims they “failed to satisfy the fund’s environmental and ethical requirements”.
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INVESCO beefs up UK institutional equity team
UK- INVESCO has appointed Daniel Roberts to its UK institutional equity desk in London. Roberts will report to Robert Churchlow, head of UK institutional equities and his appointment takes the team to four.
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Pioneer and Rolo merging to create €36bn outfit
ITALY – Milan based asset management firms, Pioneer Investments and Rolo Pioneer are to merge, forming a fund management group with some €36bn under management, as well as a combined Luxembourg-based fund operation worth €32.5bn.
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MLIM/Unilever will lead to manager consolidation
UK- Former CIO of Phillips & Drew Tony Dye has told a gathering of 400 asset managers in London that the fund management industry will consolidate into large firms focusing on marketing following the court case between the Unilever pension fund and Merrill Lynch Investment Managers.
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UBS rebrands its asset management
GLOBAL- UBS Asset Management is bringing its asset management companies under a single global brand known as UBS Global Asset Management as of April 8th.
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Union to meet UK government to discuss DB closures
UK – The Trades Union Congress (TUC) is to meet the government to discuss the TUC’s concerns over the number of defined benefit (DB) schemes being closed.
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AP7 finally gets e195m alternatives approval
SWEDEN- The board of Sweden’s e2.6bn AP7 fund has finally given the go ahead to invest 8% of the portfolio in hedge funds and private equity. A week ago the fund delayed the decision due to concerns about pricing the investments into daily NAV calculations and about them meeting the ...
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Little replaces Groom as Mellon Global CEO
UK – Mellon Global Investments has appointed Jon Little as its new chief executive officer in place of Jon Groom, who is leaving the company for personal reasons.
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Ashcourt to launch property growth fund
UK – Ashcourt Asset Management is to launch the Residential Property Growth (RPG) fund in March, a real estate investment fund company that will purchase residential property throughout England and Wales.
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Shell sells e400m Dutch real estate portfolio
NETHERLANDS- Shell pension fund has sold its e400m Dutch commercial real estate portfolio to a syndicate of Bouwfonds Asset Management, Inflation Exchange Fund and MN Services.
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EU- Spain pushes quantitative investment rules
EU- The Spanish presidency of the European Union is leading a move to persuade the European Council to include quantitative investment rules – the so called prudent man plus principle – in the proposed pensions directive.
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Boehringer retains Schroders as sole manager
UK – London based asset management group Schroders has been reappointed by pharmaceutical manufacturer, Boehringer Ingelheim to manage its £80m (€131m) UK pension fund.
