Asset Managers – Page 385
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Fund managers heed profit warnings, says PwC
FUND MANAGEMENT – The fund management industry appears to be responding to warnings of significant profit declines after a year of increased competitive pressure, with profit margins falling less than expected reports, according to a survey by consultant PricewaterhouseCoopers....
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Watson Wyatt enters multi-manager market with CAAM
EUROPE – Crédit Agricole Asset Management (CAAM) has entered into partnership with Watson Wyatt, the global investment consultancy, to develop CAAM’s multi-manager fund business across continental Europe....
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Myners steps down from Gartmore chair
UK – Paul Myners, chairman of Gartmore Investment Management, is to step down from his post at the end of the month....
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Baring scoops £80m Pirelli fixed income brief
UK – Baring Asset Management (BAM) has won an £80m (€129m) fixed income mandate from the Pirelli Common Investment Fund (PCIF), the UK the Italian tyre and cable company’s UK pensions arm....
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SEI appoints UK client services director
UK – SEI Investments has appointed Nigel Down as client service director to its UK institutional team, a newly created position.....
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Mellon reshuffles management for European growth
UK/EUROPE - Mellon Financial Corporation (Mellon) has announced a raft of senior European management changes as it sets its sights on business growth on the continent, beginning with the move of Jack Klinck, Executive Vice President and Head of Corporate Strategy and Development, to London as head of Mellon Europe.... ...
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Nomura hires veteran UK institutional adviser
UK - Nomura Asset Management has appointed Philip Sellers, CBE, a former trustee to the Post Office Pension Funds (now Consignia), as an adviser to its London based institutional operation....
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Companies failing on governance, says NAPF
Only 19% of Britain’s top companies meet investors’ highest corporate governance expectations, according to a survey carried out by the UK National Association of Pension Funds (NAPF)....
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JP Morgan launches market protected fund
UK - JPMorgan Fleming Asset Management has launched a new fund that seeks to provide institutional investors with full capital protection from stock market fluctuations....
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Nordea signs up Northern Trust for US custody
US – Nordea Investment Management (NIM), the US fund management arm of the Nordic group, has appointed Northern Trust as global custodian and fund accountant to its new Delaware institutional business trust....
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Crédit Agricole signs funds deal with AGF
BELGIUM – Crédit Agricole Asset Management (CAAM), the asset management arm of France’s largest retail bank, Crédit Agricole (CA), has announced that AGF Belgium Bank (AGF) has approved CA-Funds as one of its fund providers.....
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Mercury risk controls were inadequate, claims Q.C.
UK – Mercury Asset Management (MAM) operated an inadequate system of risk control in managing £1bn in pension assets for the USF fund and took too long to change its risk profile under the terms of a new investment agreement proposed by the Unilever fund, the High Court was told ...
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Aon wins Crown Estate pensions advisory brief
UK – Aon Consulting has been appointed as actuarial adviser, pensions consultant and scheme administrator to the £12m (€19.5m) defined benefit (DB) pension plan of the Crown Estate....
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Europe gets a thousand new CFA affiliates
EUROPE/GLOBAL – Over a thousand European investment professionals have passed the Association for Investment Management & Research’s (AIMR) CFA charter exam out of a total of more than 6,000 new affiliates worldwide....
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Punter Southall names two new principals
UK – Consulting actuary firm, Punter Southall (PS), has promoted Gail Chorley and James Saunders to the position of principal, bringing the number of principals at the company to 23....
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USF/MAM trial focuses on new management agreement
UK – The High Court trial between the Unilever Superannuation Fund (USF) and Merrill Lynch Investment Managers (MLIM), today (November 8) honed in on the period immediately before and after the establishment of the new investment management agreement (IMA), with MLIM chief operating officer (COO) Carol Galley continuing to be ...
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Mercer and Attica launch one-stop pensions product
UK – Consultant William M.Mercer has teamed up with multi-manager outfit Attica Asset management to launch a new investment service, Mercer 360, for smaller defined benefit (DB) pension plans in the UK....
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AGF/Dresdner create new €54bn French manager
FRANCE – Paris-based asset management companies, AGF Asset Management and Dresdner RCM Gestion have joined forces to create one of France’s largest asset managers, with €54bn under management....
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Swiss ABB scheme launches new venture fund
SWITZERLAND – The €3.6bn Baden based ABB Vorsorge (ABB) pension fund company has launched its fourth closed-end private equity fund, which has already raised CHF 80m (€54.5m) in its first closing....
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JLT wins consulting brief at Leek United
Jardine Lloyd Thompson (JLT) has been appointed to provide actuarial, consulting and administration services to the Leek United Building Society pension and assurance scheme....
