Latest – Page 323
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IPE publishes Top 1000 European pension funds
EUROPE – IPE has published its annual Top 1000 European pension fund supplement, which shows that Europe’s leading pension funds have come through relatively unchanged in terms of assets.
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European fund-of-funds growth levels off – report
EUROPE – Growth in the fund-of-funds market in continental Europe has “levelled off”, according to a report from Cerulli Associates.
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BlackRock to buy State Street Research
US – US investment management firm BlackRock is to buy State Street Research, which is not related to its Boston neighbour State Street Corp., from MetLife for 375 million dollars (310 million euros) in cash and stock.
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Austria’s VPK and BVP complete merger
AUSTRIA- The two billion-euro multi-employer Vereinigte Pensionskassen AG, VPK, and the 1.2 billion-euro banking and insurance sector pension fund BVP-Pensionskassen AG have merged.
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AP1 may appoint more external managers
SWEDEN – Första AP-fonden, the 148.1 billion-crown (16 billion-euro) first Swedish buffer fund, says it can’t rule out the possibility of hiring more external asset managers – and that it has set up a new external management unit.
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Fortis institutional assets flat in second quarter
EUROPE - Fortis Investments, the asset management arm of the Fortis group, gained no new institutional assets in the second quarter of 2004, according to its latest earnings report.
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European pension funds' role in oil hike unclear
EUROPE - Contrasting views have emerged today about the impact of European pension funds on the current rising oil price.
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FEFSI says investment fund assets rise 7.1%
GLOBAL – European investment fund association FEFSI says worldwide investment fund assets worldwide rose 7.1% in the first quarter of 2004 to 11.8 trillion euros.
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DeAM names European distribution head
UK - Deutsche Asset Management has appointed Insight Investments’ Mark Connolly to the new position of European head of institutional distribution, a new role.
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London exchange issues governance guide
UK – The London Stock Exchange has published a guide to corporate governance in association with consulting firm RSM Robson Rhodes.
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Mellon names UK pooled fund manager
UK - Mellon Global Investments has appointed David Holding to the new role of pooled fund account manager to its institutional pooled fund team.
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Benelux private equity market at zero – report
BENELUX – Fundraising in the private equity market in Benelux, valued in billions of euros at its peak a few years ago, saw zero activity in 2003 a new report says.
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Mercer aids London councils’ alternatives move
UK - The pension funds of the London Boroughs of Islington and Brent are considering getting into alternative investments such as real estate, private equities and hedge funds – aided by consulting firm Mercer.
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Citigroup outlines plans for global property arm
GLOBAL - The new chief executive of Citigroup’s real estate arm has outlined its plans to create a “top tier” global real estate investment management business in an interview with IPE Real Estate.
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UK pension tax-relief move hits dividends – BOE
UK – The controversial removal of tax relief on dividend payments to pension funds is estimated to have cut company dividends by 31%, according to a Bank of England study.
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Irish reserve fund plans E400m real estate move
IRELAND - The 10 billion-euro National Pensions Reserve Fund has appointed F&C’s Ian Gleeson as property manager to oversee a planned 400 million-euro real estate allocation.
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F&C institutional assets hit by pension outflows
EUROPE – F&C, which is being bought by ISIS Asset Management, lost almost four percent of its institutional assets under management in the first half of 2004.
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Commission splits internal markets and taxation
EUROPE - New European Commission president José Manuel Baroso has appointed two commissioners to run the internal markets and taxation departments that Frits Bolkestein used to head on his own.
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Gartmore names institutional chief
UK - Gartmore Investment Management has named Invesco UK’s Angus Woolhouse as head of business development for its global institutional and alternative investments business, spanning the US, Europe and Japan.
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Zurich fund CSIF postpones independence
SWITZERLAND – The continued coverage deficit at the 16.95 billion-franc (11 billion-euro) Canton of Zurich Civil Service Insurance Fund means its planned independence has been postponed, possibly for years.
