All articles by Daniel Brooksbank – Page 230
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Deutsche Boerse adds six exchange traded funds
GERMANY - Exchange operator Deutsche Boerse has added six new exchange traded funds to its roster, taking its total ETFs to 86.
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AMP warns of asset writedown
Australia - AMP – which via its Henderson Global Investors unit controls 29.21 billion euros in European pension fund assets - has warned that it will reduce the book value of its assets because they are overvalued compared to market values. The move follows AMP’s decision to cut 1,200 jobs ...
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WestLB launches hedge fund
UK - German bank WestLB’s asset management arm has made its first foray into the hedge fund market with the launch of an absolute return fund that it expects will generate “significant” returns in excess of cash.
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Allianz Dresdner boosts alternative offering
UK - Allianz Dresdner Asset Management says it has formed a single manager hedge fund division in a bid to boost its alternative investment business.
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UBS Asset Management vice chair retires
UK - UBS Global Asset Management says its vice chairman Crispian Collins is to retire in March 2003.
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State Street launches European real estate fund
US - State Street – via its Tuckerman division - has launched a European real estate index fund that is designed to replicate the EPRA real estate index. The fund has seed funding from Dutch pension insurance firm Optas Pensionen NV.
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Pioneer completes Momentum acquisition
ITALY - Unicredito Italiano’s Pioneer Global Asset management unit has completed its previously announced 110 billion dollar (109.6 million euro) acquisition of hedge fund company momentum group. Pioneer says the move strengthens its position in the alternative investments market.
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Philippe hires ex-Merrill Europe equity executive
UK - Philippe Investment Management has hired former Merrill Lynch Investment Management European specialist equity chief Consuelo Brooke, with Brooke taking a 5% stake in the company.
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FTSE to launch Barclays’ European ETFs
UK - Index provider FTSE Group is to launch eight tradable indices that will go live with Exchange Traded Funds issued by Barclays Global Investors’ iShares division.
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AP3 and Boots win top IPE awards
NETHERANDS - Sweden’s AP3 and the UK’s Boots were named the best European pension funds for their investment strategy at the second annual IPE European pensions industry awards last night in Amsterdam.
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AWARDS FEATURE- Europe's top managers on strategy
Senior managers at some of Europe’s top pension funds agree on one thing: that they are investing for the long term, though they differ on how to achieve their aims in terms of how they manage their funds, allocate assets and monitor their absolute returns. The executives were speaking at ...
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German pensions: Allianz takes 20%
GERMANY - Insurer Allianz says it has a market share of 20% in Germany’s state-funded pension market – although take-up by private individuals remains “slow”.
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ABP investment chief to speak at IPE Awards
Amsterdam – The chief investment officer of Europe’s largest occupational pension fund is the featured speaker at the IPE Awards in Amsterdam on Wednesday November 13. The theme of the event is “Living in turbulent times.”
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UBS Q3 asset management profits tumble
SWITZERLAND - UBS’s asset-management arm’s profits more than halved in the third quarter, hit by falling asset values and declining fees.
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Worldwide funds fall 1.6% in Q2 - report
EUROPE - Global investment fund assets declined 1.6% at the end of the second quarter - though the fall was "moderated" by the weakness of the US dollar, according to data compiled by the European investment fund industry's umbrella organisation Fefsi.
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Former Dresdner chief joins UK's Isis
UK - Isis Asset Management says it has hired a former senior executive at Dresdner Kleinwort Wasserstein as its new head of institutional funds.
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TotalFinaElf hires Hewitt Bacon for new scheme
UK - French oil company TotalFinaElf has hired consultants Hewitt Bacon and Woodrow to act as advisor on its newly merged 1 billion pound (1.57 billion euro) UK pension fund. Financial terms of the deal were not disclosed.
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Accenture sees hole in UK pensions take-up
Consultancy firm Accenture has identified what it calls a "massive hole" in the take-up of pension in the UK - a hole which could present a sales opportunity for banks.
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Bonde named head of Sweden's FSA
SWEDEN - The Swedish government has named Ingrid Bonde as head of the Financial Supervisory Authority. She faces what the government termed "serious challenges".
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UK funds "post 13% negative return"
UK - Deutsche Bank-owned consultancy the WM Company calls the situation “severe” as UK pension funds post a negative return of almost 13% in the three months to the end of September 2002.
