Investor Strategy – Page 258
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HSBC-CCF buys back Sinopia Asset Management
FRANCE - HSBC CCF Asset Management has begun to buy back the stake in Paris-based quant firm Sinopia Asset Management that it floated in 1998, with the purchase of over a million shares from Belgium’s KBC Group, Spanish bank BBVA and Mellon Financial Corporation for a price of e27.5 per ...
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Danish pension insurers in bonus reserve wipeout
DENMARK – PFA, the Danish insurance group has announced losses of some DKK 18.2 billion – completely wiping out the group’s bonus reserves and forcing it’s pensions arm into emergency talks with the Danish Financial Supervisory Authority - as a result of falling equity markets after the shock in the ...
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State Street hires new head of investor relations
State Street Corporation has appointed S. Kelley MacDonald senior vice president and head of investor relations....
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Swedish regulator issues insurer reserves warning
SWEDEN – The Swedish financial supervisory authority - Finansinspektionen(FI) has issued a warning about unsatisfactory reserves in six Swedish life insurance companies, adding that it will sharpen its supervision of these companies due to the recent falls in the stock markets.
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Pension fund property exposure up in Q2
UK – Insurance companies and pension funds increased their exposure to commercial property in the second quarter of this year, according to DTZ Research reporting on data published by National Statistics (NS), the UK’s official government statistical research body....
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Mercer urges calm amidst market storms
Consultant William M. Mercer is cautioning pension funds not to make hasty investment decisions in response to current market volatility....
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Hedge funds stay in the black despite US crisis
HEDGE FUNDS - The Crédit Suisse First Boston/Tremont (CSFB/Tremont) hedge fund index remains up 0.9% for August, despite a one-week delay attributed to the terrorist attack on New York two weeks ago....
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Europol scheme retenders for managers
NETHERLANDS/EUROPE – The e3.5m The Hague based Europol pension fund, the scheme for officials of Europe’s police organisation has reopened a tender for administration, investment management and risk coverage of the fund that it abandoned earlier this year after poor response from investment managers....
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Rodamco takes ABP to court over Westfield sale
NETHERLANDS – Rotterdam based Rodamco North America (RNA) is taking legal action against giant Dutch pension fund, ABP, following the sale of ABP’s 23.9% shareholding in RNA to Westfield Holdings, the large Sydney based international shopping centre development company.....
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Deutsche and Zurich in huge swap deal
GERMANY/ SWITZERLAND / UK / US – Major German financial group, Frankfurt based Deutsche Bank (DB) is to acquire for US$ 2.5bn (€2.7bn) the entire shareholding of New York based Zurich Scudder Investments...
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Property markets count cost of NY terrorist attack
US SPECIAL – Direct losses to downtown Manhattan’s real estate market in the recent terrorist attack on New York could be as much as US$10bn (€11bn), claims Jones Lang Lasalle (JLL).
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Swiss banks launch 'transparent' hedge product
SWITZERLAND - Bank Hofmann and saisGroup of Zug are targeting a rising demand for alternative investments with the launching of a fully transparent hedge product with daily valuation and trading at Net Asset Value (NAV)....
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Half of Europe's schemes hit by US tragedy
Almost 50% of European pensions funds say they have experienced a notable impact on their fund assets in the light of the terrorist attacks in the US last week and the subsequent fallout of global markets, according to a survey by IPE-Newsline...
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New e4bn German pension scheme out to tender
GERMANY – The German metal and electronics industry representative bodies have invited investment managers to tender for the assets of a new €4bn retirement savings scheme, which could potentially have a membership of around four million workers.....
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Investment banks rally after US disaster
US SPECIAL - Investment banking groups, many of whom had offices within the World Trade Centre in New York, have released statements of sympathy to the relatives of colleagues still missing in the aftermath of yesterday’s horrific terrorist attack, as well as updates on the well being of their employees.....
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Banks begin post US tragedy allocation reviews
US SPECIAL – Investment banks are beginning to review their asset allocation strategies in light of the US tragedy on September 11, with most sticking to their long-term policies and noting that political events going forward may shape strategy much more sharply than the terrorist atrocities in New York.....
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Emergency list of industry client contacts
As part of our endeavour at IPE Magazine and IPE-Newsline to assist any company within our community affected by events in the US, below is a list of client contact details provided by asset management companies that had offices or staff in the World Trade Centre complex in New York, ...
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Standard and Poor's upbeat on market post disaster
US SPECIAL – Standard & Poor’s (S&P) has issued an upbeat statement on the impact of Tuesday’s terrorist atrocities in the US on global financial markets, claiming that the effects will not be detrimental over the long term....
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One in five Swedes makes active PPM choice
SWEDEN - Less than a fifth of Swedes made active investment fund choices in the latest round of contributions to the country’s PPM system, according to figures emerging from the country’s Premium Pension Authority (PPM)...
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Previmoda in RFP for bond/equity managers
ITALY – Italian fashion and textiles industry pension fund, Previmoda, is tendering for three managers to run two bond portfolios and one equity fund....
