Investor Strategy – Page 233
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News
Foreign firms top Austrian fund of funds market
AUSTRIA – Foreign providers of funds of funds have increased their share of the Austrian market, with US houses now dominant.
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Mercer offers “alpha transport” derivatives idea
EUROPE – Mercer Investment Consulting is offering a new concept for pension fund managers that involves the use of derivatives in constructing portfolios of independent alpha and beta sources.
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Insight in swoop for Axa Rosenberg’s Millar
UK – Axa Rosenberg Investment Management’s UK and Ireland institutional marketing director, Stephen Millar, has surprised his employers by moving to Insight Investment.
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State Street’s research chief Persaud leaves
UK – Avinash Persaud, high-profile head of global research at State Street Corp., has left the company to run a currency investment fund.
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Pickering advises against personal pensions
EUROPE – The chairman of the European Federation for Retirement Provision, Alan Pickering, says he would not advise a young person in the UK to put money into a personal pension.
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WM chief gets expanded role at State Street
UK – State Street has appointed the head of its performance-measuring arm WM Co., Peter Adams, as the London head of its UK pensions servicing team.
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MLIM loses UK equity manager Thompson
UK – Merrill Lynch Investment Managers has lost three of its UK equity specialist team including UK equity manager, Steve Thompson.
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Water scheme awards SSGA passive mandate
UK – The 300 million-pound (426.7 million euro) Water Companies Pension Scheme has appointed State Street Global Advisors to manage over two-thirds of its assets.
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Study says derivatives can help pension crisis
GLOBAL – A new academic study says options can be used to make defined benefit pension schemes more sustainable.
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Higham Black Mountain names senior actuary
UK – Higham Black Mountain is expanding its pension administration and consultancy services with the addition of Paul Jayson.
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Institute blasts failure of German Riester reform
GERMANY – “The Riester reform has failed” and “Germans must save more” – this is the message from the German Institute for Retirement Provision.
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Jupiter under scrutiny in Somerset revamp
UK – Somerset County Council’s 600 million pound (855 million euro) pension fund has put out two tenders for a UK bond mandate and a UK property manager of managers mandate following an overhaul of its investment strategy.
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M&G gains almost E1bn in institutional funds
UK – M&G says it saw net institutional fund inflows of 704 million pounds (996 million euros) in the first six months of 2003.
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Putnam hires J P Morgan bond researcher
EUROPE – Putnam Investments has hired Maria Garcia Lomas from J P Morgan for its European corporate bond research team.
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UBS GAM global investment chief to retire
GLOBAL – The global chief investment officer of UBS Global Asset Management, Jeffrey Diermeier, is to retire.
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Mercer’s revenues rise 16% to $690m
US – Consulting firm Mercer has seen its quarterly revenues rise by 16% - though sister company Putnam Investments has posted lower revenues.
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HSBC AM names Lyne as institutional director
UK – HSBC Asset Management has appointed Julian Lyne as director of institutional business.
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Allianz’s Pimco names UK fixed income head
UK – Pimco has named Rothschild Asset Management’s Michael Amey as its new head of UK fixed income.
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Mercer opens new German investment consulting arm
GERMANY – Mercer Investment Consulting is to launch a new investment consulting practice in Germany.
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ETF use by European institutional investors grows 20%
EUROPE – The number of institutional investors using exchange traded funds (ETFs) or HOLDRs baskets of stocks is continuing to increase, particularly in Europe, according to research by Morgan Stanley.
