All IPE articles in June 2005 (Online) – Page 3
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News
AP3 names new asset allocation chief
SWEDEN – Tredje AP-fonden, the SEK160.2bn (€17.3bn) Swedish third national fund, has named Skandia Liv’s Hans Lindberg as chief strategist for asset allocation, a new role.
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Cerulli sees multi-manager demand in Germany
GERMANY - Investor demand for multi-manager funds in Germany increased more than three-fold in 2004, taking total volume for the funds to €414m, a new study by Cerulli Associates shows.
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Gartmore promotes Meyer to Europe CEO
EUROPE – Gartmore Investment Management has appointed Jeff Meyer, its US-based global chief financial officer, to the new role of chief executive officer for Europe.
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UK’s PPF names asset managers, custodian
UK – The Pension Protection Fund has named three asset managers and a custodian as it seeks to take a “proactive” approach to managing the assets raised by its levy.
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Italian pension industry struggling - regulator
ITALY - The pension fund industry “is struggling to take off”, says the head of pension regulator Covip.
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MPs exempt from pension protection levy
UK – Members of Parliament are exempt from paying levies to the new Pension Protection Fund, it has emerged.
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€1.3bn UK plumbing scheme fires Mercer
UK – Consulting firm Mercer has lost the investment consulting and scheme actuary roles at the £900m (€1.3bn) scheme for the plumbing industry.
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Nordea buys Polish pension firm in €95m deal
POLAND – Nordic financial group Nordea is to buy Sampo’s Polish pension and life companies for €95m.
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HSBC gets Italian alternatives custody OK
ITALY – HSBC says it has received approval to open a custody operation for alternative investment funds in Milan.
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Morgan Stanley asset management profit slips 16%
GLOBAL – Second-quarter pre-tax income at Morgan Stanley Investment Management fell 16% to $175m (€144m) from $209m a year before.
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Citigroup, Legg Mason ‘in asset management talks’
GLOBAL – Citigroup and Legg Mason are in talks about swapping their asset management and brokerage businesses, according to a Bloomberg News report today.
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Watson’s Urwin doubts hedge fund capacity
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the performance of fund of hedge funds is “in doubt” due to a lack of capacity at some of the managers.
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Brown Brothers boosts European team
EUROPE – Securities services specialist Brown Brothers Harriman has named Jeffrey Holland as head of European sales and relationship management.
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Barclays Global Investors names operating chief
GLOBAL – Barclays Global Investors has named Boston Consulting’s Rohit Bhagat as its new chief operating officer.
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Germany's WestAM CEO sees asset boost
GERMANY - Institutional fund provider WestAM expects to raise its assets under management to €40bn at the end of 2007 from just under €27bn currently, its chief executive says.
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Allianz fund arm makes US disposal
GERMANY - Allianz Global Investors has sold Cadence Capital, a US institutional fund manager, to Cadence’s management and an outside private equity firm for an undisclosed sum.
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Belgian national pensions debate postponed
BELGIUM – A national debate on pensions featuring government minister Bruno Tobback and industry figures has been postponed.
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IPE-QUEST: two new searches on system
GLOBAL – There are two new searches, for offshore property and global emerging markets, on IPE-Quest.
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West Midlands scheme recruiting two managers
UK – The £5.4bn (€8.07bn) West Midlands Pension Fund is looking for two internal equity investment managers following an internal restructuring.
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Pension systems ‘to have macroeconomic impact’
NETHERLANDS – Pension systems will have an increasing macroeconomic impact and population ageing will affect capital markets, the Netspar Pension Workshop was told recently.