All articles by Helen Avery – Page 33
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Asset managers “not voicing concerns
GERMANY – Klaus Moessle, president of the European Asset Management Association, has criticised asset managers for not voicing concerns about asset allocation with their pension fund clients.
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Fortis Investment Management in Luxembourg move
LUXEMBOURG – Fortis Investment Management has set up shop in Luxembourg, having taken over the fund of funds asset management activities of Bank Generale du Luxembourg.
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Southwark withdraws legal action against MLIM
UK – (Update) Southwark Borough Council has withdrawn a legal claim against its former pension fund manager Merrill Lynch Investment Managers. (Updates with Southwark comments.)
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Seymour Pierce in asset management talks
UK – Financial services firm Seymour Pierce says it is in “advanced talks” to sell its asset management division, Pavilion Asset Management.
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French employers’ chief in pension threat
FRANCE – The head of France’s employers’ organisation has threatened to step down if the government does not address the issue of pensions for those outside the public sector.
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Insight wins e44.5m Church bond mandate
UK – Insight Investment has been appointed to run a 30 million pound (44.5 million euro) bond mandate for the Church of England pension fund.
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Mercer launches specialist manager platform in Ireland
IRELAND – Mercer Investment Consulting has launched a new product allowing smaller Irish pension funds access to international investment managers.
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New report argues case for performance-related fees
GLOBAL – Now is the prime time for fund managers to consider and review their performance fees, says fund research company, Fitzrovia International.
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Deutsche’s Walter takes over as Dresdner CEO
GERMANY – Herbert Walter of Deutsche Bank is to take over as chief executive of Dresdner Bank following the widely-expected resignation of Bernd Fahrholz, which was announced today.
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Germany: commission proposes pension tax changes
GERMANY – The German government’s pensions commission has proposed to end the tax-deductible status of life insurance premiums and alter the tax rules for pensions.
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Multi-management trend still growing - Cerulli
EUROPE – Holdings in multi-management products fell in 2002, but the trend towards growth remains, says Boston-based asset management research and consulting firm Cerulli Associates.
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Finnish fund tenders for Asia Pac equity managers
FINLAND – The e12bn local government pensions institution responsible for pension cover of Finnish municipal employees has put out to tender an Asia Pacific ex Japan equities mandate worth up to e200m.
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Morley fixed income chief leaves for rival
UK – The head of fixed income at Morley Fund Management, Peter Rains, has left and is being replaced by Ceris Williams.
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Sarasin buys French fund manager
SWITZERLAND/FRANCE – Swiss private bank Bank Sarasin is expanding its fund activities in France with the acquisition of Paris-based asset management company Expertise Asset Management.
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Fund managers see little value in bonds
GLOBAL – Only 4% of fund managers believe that there is any value left in bonds, according to a survey conducted by Merrill Lynch.
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CalPERS to improve private equity disclosure
US – The largest US pension fund, CalPERS, has announced that it will be improving the disclosure of its private equity investments to provide a higher level of transparency.
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UK insurers want change to means-tested pensions
UK – The main UK insurance body has called for a change to plans for means-tested pensions, saying the country is “storing up problems for future generations”.
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Dresdner declines comment on chairman reports
GERMANY – Dresdner Bank has declined to comment on reports that its chairman Bernd Fahrholz is set to resign.
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Multi-management to hit consultants, managers
UK - The increasing appeal of multi-managers will have an effect on both the UK consulting industry and the investment management industry, according to investment firms Frank Russell and Morgan Stanley.
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Ex-Fidelity pension head hails derivatives
UK - The use of derivatives in a pension fund portfolio could afford protection from equity risk - despite what Warren Buffett says, according to the former head of Fidelity’s pensions arm.
