Investor Strategy – Page 265
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News
Allianz/Dresdner could create e1trn asset manager
GERMANY - The proposed merger between Allianz, Germany’s largest insurance company and Dresdner Bank, could create an investment management powerhouse with almost e1trn in assets under management, according to sources close to the deal....
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JP Morgan recruits Mercer institutional specialist
UK – JP Morgan Investor Services has appointed former Mercer institutional specialist, Richard Dinham, as an investment consultant, in a bid to boost the group’s Europe, Middle East and Africa performance, analytics and consulting division...
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German private equity market's e600bn boost
GERMANY - The German private equity market will receive an injection of some e600bn from next January on the back of tax reforms that will abolish capital gains tax (CGT), according to a new report by Commerzbank Securities...
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Guernsey funds business grows despite threats
GUERNSEY – Guernsey fund managers have recorded relatively healthy growth in hedge fund and fund of funds business for 2000, despite threats to the industry posed by outside bodies such as the OECD and the general increase in competition from other offshore jurisdictions...
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AEU engages with FIS for £60m mandate
UK – AEU, one of the two pension schemes of the Amalgamated Engineering and Electrical Union (AEEU), one of the largest UK trade unions, has appointed Friends Ivory & Sime (FIS) to a £60m (e96m) multi-asset mandate for its super-annuation and assurance scheme...
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PPM system to receive half a million new entrants
SWEDEN – Almost half a million new entrants will join the SEK18-20bn (e2-2.2bn) state premium pension system (PPM) at the end of May, more than doubling the earlier estimate of 200,000 new members....
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Deutsche appoints D'Amore to drive Italian sales
ITALY – Gennaro D’Amore has joined Deutsche Asset Management’s Rome office as vice president of institutional sales in the bank’s effort to expand business in the country...
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80% of French and Germans say pensions are at risk
EUROPE – More than 80% of French and Germans think that in 10-15 years their domestic pensions system will not be able to pay full benefits in the light of future demographic imbalances, according to a study by three leading European academics…
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SEI has right chemistry for £18m Meconic scheme
UK – Manager of managers firm SEI Investments has been awarded the mandate to run the £18m (e29m) assets of the pension fund of Meconic – a specialist manufacturer of pharmaceutical ingredients and chemicals...
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Karas pledges support for prudential rules
EUROPEAN DIRECTIVE SPECIAL - Othmar Karas presents his findings to the European Monetary Affairs Committee today (March 21) - arguing that the 'prudent person' investment rule should hold sway, with non-compliant member states given ten years to come into line...
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ABP/State Street venture makes first investment
EUROPE/US – State Street Global Alliance, the jointly owned subsidiary of the e150bn Dutch civil service pension fund ABP and State Street Global Advisors (SSgA), has bought a major interest in Washington based Residential Capital Management...
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Compass points to Russell for £500m brief
UK – The trustees of the newly created £500m (e794m) Compass Pension Scheme for catering group Compass, have appointed multi-manager Frank Russell Company as the sole investment manager to the scheme’s assets....
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One in ten small cap firms meet investor hopes
UK – Only one in ten UK smaller quoted companies meet the minimum market capitalisation desired by institutional investors, according to a study by the London based consultancy KPMG Corporate Finance.
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SEI up and running with first UK mandate
SEI, the US multi-manager firm has picked up its first UK institutional investment mandate since setting up its London operations...
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Scheme specific benchmarks become the norm
UK- More than half of UK pension funds have now adopted their own benchmarks and follow a scheme specific investment policy, according to analysis by UK performance measurer CAPS...
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Myners: Schemes could boost consultancy market
Paul Myners has cleared the UK consultancy market of accusations of serious competition concerns, but recommended that pension funds split actuarial and investment advice contracts to bring more players into the country’s restricted advisory market....
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Irish scheme worries are fuelling manager reviews
Irish pension fund concerns over uncertainty in domestic and European legislation and regulation are being expressed through increasing manager reviews, according to a new survey...
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'Ericsson effect' drives Swedes abroad
SWEDEN – The ‘Ericsson effect’ is changing the attitudes of Swedish asset allocation, according to leading consultants. Ericsson's share price has plummeted from SEK930 (e103) last March to SEK85 this year.
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Swedish supervisors want to boost activities
SWEDEN – Finansinspektion (FI), the Swedish financial supervisory authority, has asked for an increase of almost 25% into its annual budget in the next three years, after an annual review.
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Mellon launches global distribution network
EUROPE: Mellon Financial Corporation is expanding its asset management business by developing Mellon Global Investments ....
