Asset Managers – Page 380
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PGGM and Delta Lloyd plan insurance venture
THE NETHERLANDS- The €50bn pension fund for healthcare and social workers PGGM has announced it is launching a joint venture with Delta Lloyd offering financial services and products to employers and employees in the healthcare and social work sectors.
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Scottish Widows with Russell for funds launch
UK – Scottish Widows, the asset management arm of Lloyds TSB, is to launch four new “best of breed” multi-manager portfolios as a result of the strategic alliance it recently formed with multi-management specialist, Frank Russell Company, as reported by IPE Newsline on 12/12/01.
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SEB Invest pulls out of London
SWEDEN/UK – The London office of SEB Invest, the asset management arm of Swedish financial group, SEB, is to close as part of the company’s strategy to centralise the management if its fund management operations from its offices in Stockholm.
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Robeco appoints new asset management chairman
IPE staff - all the week's major people moves - 25/01/02
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CDC IXIS reorganises Paris-based asset managers
FRANCE – Investment manager, CDC IXIS Asset Management (CIAM) has made a number of senior appointments as part of the reorganisation of its Paris-based management teams.
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New Flag appoints Fitch CEO Monro-Davies
UK – New Flag Asset Management, the specialist high yield asset manager, has appointed Robin Monro-Davies, one of the company’s founding investors, as executive chairman.
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Radical overhaul at AHV means March and June RFPs
SWITZERLAND- Switzerland’s first pillar federal pension scheme Ausgleichsfonds der AHV has started a radical overhaul to its asset allocation following new legislation allowing it to invest in global equities for the first time.
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Myners joins BoNY as non-executive director
UK/US– The Bank of New York has appointed Paul Myners as non-executive director with effect from March. Myners recently stepped down form his position as chairman of Gartmore Investment Management to pursue other interests and build his portfolio of non-executive board posts.
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Gartmore beefs up its distribution business
UK – Gartmore Investment Management has made three senior appointments to its distribution businesses. Frances Davies has become head of global institutional business, Steen Steincke has joined as head of global bancassurance ex-UK and Paul Feeney has been appointed head of UK retail.
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Folksam to screen its entire assets in SRI drive
SWEDEN- Swedish investment manager Folksam has announced a screening of its entire Sek105bn (e11.3bn) portfolio for environmentally unfriendly companies and for those that violate human rights. The strategy, launched at the beginning of the year, is underway and expected to take around six months to complete.
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BBH to lend securities for three US managers
US- BBH Securities Lending, the securities lending arm of US global custodian Brown Brothers Harriman, is providing lending services to three US asset management companies.
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Munich Re doubles stake in Commerzbank
GERMANY –Munich-based insurance and financial services group, Munich Re, has taken a further step towards diversifying into the banking sector by effectively doubling its holding in Commerzbank and reinforcing its stake in HypoVereinsBank (HVB), Germany’s third largest banking group.
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Lloyd's agencies pick CAAM for e170m fixed income
UK – The London office of Crédit Agricole Asset Management (CAAM), the investment management arm of French financial services group, Crédit Agricole, has won two new mandates to run the fixed income portfolios of B.F. Caudle Agencies and Ensign Managing Agency, both managing agencies for Lloyd’s of London syndicates.
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Gartmore beefs up Frankfurt and Milan operations
GERMANY/ITALY – Gartmore Investment Management has further strengthened its Frankfurt and Milan offices as part of its European expansion strategy.
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UK AIMR branch appoints Ralston as co-chair
UK – Nicola Ralston has been elected as co-chair of the Society of Investment Professionals (SIP), the UK branch of the Association for Investment Management and Research (AIMR), the Charlottesville based non-profit organisation serving the global investment community.
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Old Mutual launches Dublin fund umbrella
IRELAND – Old Mutual Asset Management (OMAM), the London-based asset management arm of UK financial services group, Old Mutual, has set up a Dublin-domiciled fund umbrella operation, with a UK select smaller companies fund being the first sub-fund to be included in the umbrella.
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AstraZeneca equity cut not influenced by Boots
UK – The recent asset allocation shift that saw the £4.2bn (€6.8bn) AstraZeneca pension fund reduce its equity holdings by five percent in favour of fixed income was not influenced by the Boots pension fund getting rid of its entire equity portfolios last October.
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European ETF assets grow 800% in 2001
GLOBAL- Assets invested in exchange traded funds listed on European exchanges grew more than 800% in 2001 to top $5.6bn (e6.3bn) according to research by Morgan Stanley. Recent figures show there are 71 ETFs with 92 listings on six European exchanges.
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Zurich Scudder reverts to Threadneedle
UK – Zurich Scudder Investments, the UK institutional investment business of major Swiss financial group, Zurich Financial Services, has reverted to its former brand name, Threadneedle.
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F&C enters Greece with Interamerican and Nova deal
GREECE – Pan-European asset management company, F&C Management, has formed a strategic mutual fund management partnership with Greek insurance group, Interamerican and retail bank, Novabank.
