Investor Strategy – Page 199
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European funds taking less risk – State Street
EUROPE – European institutional investors are currently taking less risk in the equities market – instead they are ploughing cash into the fixed income market, according to State Street’s investor confidence index.
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Volkswagen scheme in €1.4bn portfolio transition
GERMANY – State Street Global Markets says it has completed a €1.4bn portfolio transition for the Volkswagen Pension Fund.
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Innovest launches nanotechnology index
GLOBAL – The potential dangers from product backlash and negative perception risks of nanotechnology development by corporations has been highlighted by the launch of a new Nanotechnology Index.
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MLIM hires F&C Netherlands' van den Heuvel
NETHERLANDS - Merrill Lynch Investment Managers has hired André van den Heuvel from rival F&C to head institutional sales and client service in the Netherlands, a new role.
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Horeca to expand private equity
NETHERLANDS – Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering industry fund, is looking at expanding its private equity coverage.
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Pension funds ‘central to world financial system’
GLOBAL – Pension funds are becoming more central to the global financial system because of the way they invest, the International Monetary Fund says.
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Consultant Fideas launches with €300m
EUROPE - New consulting firm Fideas Capital has officially launched, with clients having entrusted €300m in assets.
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Dutch schemes need €255bn of long bonds – IMF
NETHERLANDS – Dutch pension funds are estimated to require more than €250bn of long-term bonds to help them match liabilities, the International Monetary Fund says.
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Morgan Stanley asset management chief exits
GLOBAL – Morgan Stanley says Mitchell Merin is to retire as president and chief operating officer of its investment management arm.
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Dutch FTK makes pensions clear, minister says
NETHERLANDS – Dutch pensions minister Aart Jan de Geus has defended the delayed financial assessment framework, or FTK, saying it helps to remove the industry’s “secret code”.
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GES launches new client interface
EUROPE -- Stockholm-based SRI analysis house GES Investment Services is to launching a web-based extension to its active engagement service that will enable its institutional investor clients to become more involved in the engagement process.
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Russell predicts new alternative investing highs
GLOBAL – Hedge fund use by European institutions has increased dramatically in 2005. Their use by continental respondents to the Russell Investment Group’s seventh annual report on alternative investment the doubled to 48% from 24% in 2003.
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Northern Trust Global Advisors names CIO
GLOBAL - Northern Trust Global Advisors, the manager-of-managers arm of the Chicago-based bank, has named Andrew Smith as chief investment officer.
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Threadneedle names UK institutional head
UK – Threadneedle Investments has named Madeline Forrester as its new head of UK institutional business, effective immediately.
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Insight nabs MLIM’s Aitken as institutional head
UK – Insight Investment Management has named Sarah Aitken, head of defined contribution at rival Merrill Lynch Investment Managers, as its new head of institutional business.
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Credit Agricole gets €21bn of asset inflows
FRANCE – Credit Agricole says its asset management arm gained almost €21bn in inflows in the first half of the year.
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Capita buys pensions admin firm FPS
UK – Pensions administrator Capita Hartshead has acquired the FPS Group of Companies following “enormous change” in the UK pensions market.
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Dutch rail scheme SPF hires PGGM’s Varkevisser
NETHERLANDS – The €10.4bn Dutch railway pension scheme SPF has just appointed PGGM’s Jan-Theo Varkevisser as portfolio manager for fixed income and the treasury.
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350 jobs to go as Julius Baer buys banks
SWITZERLAND – Around 350 jobs, including possibly that of asset management chief Roman von Ah, look set to go with Julius Baer’s decision to buy four wealth management firms from UBS.
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German institutions ‘to seek lower hedge fees’
GERMANY – German institutional investors will increasingly pressure fund of hedge fund providers to cut management and performance fees, reckons consulting firm Faros.
