Investor Strategy – Page 202
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News
Row looms between German consultants, managers
GERMANY – A row is looming in Germany as investment consultants complain that asset managers are trying to break into their market – a charge that managers deny.
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COMMENT: Interesting times for multi-managers
COMMENTARY - The news that Mercer is getting an excellent response for its new multi-management offering is interesting.
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Coats Pensions chairman Dow steps down
UK – Sam Dow, chairman of board of Coats Pensions Trustee Ltd., has stepped down to be replaced by Laurie Todd of Guinness Peat Group, according to the scheme’s web site.
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Hewitt boosted by international revenues
GLOBAL – Hewitt Associates has reported stronger profit and revenue at its consulting division in the third quarter, driven by growth outside its North American base.
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Essex scheme set to change asset allocation
UK – The more than £2bn (€2.9bn) Essex County Council Pension Fund says it is poised to change its asset allocation as soon as possible.
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Barclays Global Investors gains €47bn of assets
GLOBAL – Barclays Global Investors gained £33bn (€47bn) of net new assets in the first half of 2005, parent Barclays Plc said in its earnings statement.
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Schroders’ Zerner joins Lazard AM as marketer
UK - Lazard Asset Management has appointed Schroder Investment Management’s Mary Zerner as head of central marketing services.
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PGGM first to introduce improved statement
NETHERLANDS – Dutch healthcare scheme PGGM says it is the first in the country to introduce a new and more transparent statement of pension rights for its clients.
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Dutch painters scheme puts €225m with Altera
NETHERLANDS – Altera Vastgoed says it has been awarded €225m of real estate assets by the Dutch painting industry fund BPF Schilders.
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Commerzbank asset management earnings tumble
GERMANY – First-half earnings at Commerzbank’s asset management division fell by almost half amid a steep rise in operating costs due to stock options for top executives.
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ABP continues UK real estate moves
UK/NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, has continued to buy into UK real estate firms, according to company filings.
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Watson Wyatt’s Hoogeveen joins Mercer
NETHERLANDS – Former Watson Wyatt consultant Jan Hoogeveen has been appointed principal at Mercer's retirement and international practice in Amstelveen.
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Standard Life under scrutiny at South Yorkshire
UK – The £2.8bn (€4bn) South Yorkshire Pension Fund is seeking an advisor for a £220m commercial property portfolio – putting incumbent Standard Life Investments under scrutiny.
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F&C names Standard AM’s Mann director emerging debt
EUROPE - F&C Asset Management has recruited Jonathan Mann, formerly with Standard Asset Management, as director of the emerging debt team. This is a new position within a team that mostly caters for institutional investors.
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AXA IM to buy Framlington Group Ltd for €252m
UK – AXA Investment Managers (AXA IM) is poised to buy boutique Framlington Group Ltd from HSBC Holdings and Comerica Inc for £174m (€252.1m).
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Watson loses consultancy brief with Durham CC
UK – Consultancy firm Watson Wyatt has lost a brief with the £1bn (€1.44bn) Durham County Council Superannuation Fund.
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BGI launches 16 sterling and euro LDI funds
EUROPE- Barclays Global Investors (BGI) has launched 16 new pooled liability driven investment (LDI) funds aimed at UK and European pension funds that want to outperform their liabilities.
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SWIP appoints southern Europe head
EUROPE – Scottish Widows Investment Partnership (SWIP) has appointed Corrado Amari, 54, as head of southern Europe.
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Watsons unveils new investment approach
EUROPE – International consultancy Watson Wyatt has given details of its Advanced Investment Solutions (AIS) approach to investment consulting for clients, designed to “join up investment strategy and manager selection”.
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UK schemes ‘shouldn’t count on tax loophole’
UK - Standard Life says pension funds and their advisers shouldn’t count on a grey area in current tax rules that let some members claim tax privileges – because the authorities are set to end it.
