Markets – Page 220
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Skandia’s Macleod to head €36bn division
UK – Jamie Macleod, chief executive of Skandia Investment Management (SIML), is to head Skandia UK’s new asset management division – a consolidation of its investment, fund group and life arms.
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AP4 appoints new managing director
SWEDEN - The roughly SEK180.2bn (€19.2bn) Fourth Swedish National Pension Fund (AP4) has named Skandia Life chief investment officer Mats Andersson as its new managing director to succeed current MD Thomas Halvorsen, who is due to retire.
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DekaBank names Killius institutional sales chief
GERMANY – DekaBank, the asset manager of Germany’s state-owned savings banks (Sparkassen), has recruited Thomas Killius from HypoVereinsbank as its new head of institutional sales.
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Insight sacks six in restructure
UK - Insight Investment has fired six UK analysts – three from equities and three from the UK research team – in a restructuring effort aimed at turning around its underperformance in UK equities.
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UK investors manage over €4.3tn
UK – Investment managers in the UK now manage over £3trillion(E4.3trn) in assets, according to the Investment Management Association(IMA).
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Credit Agricole makes three senior AM appointments
EUROPE - Credit Agricole Asset Management has appointed three senior executives, including an equity investment chief and strategy head, in a bid to strengthen its Paris-London-Milan links.
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AP2 in €469m fundamental index shift
SWEDEN - Andra AP-fonden, the roughly SEK190.6bn (€20.5bn) Second Swedish National Pension Fund (AP2) today announced it has allocated 15% of its US equity portfolio to fundamental indexation.
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GE Asset Management CEO exits
UK – Gavin Hill, chief executive of GE Asset Management, has quit to join the board of directors as investment director at pensions liability buyout vehicle Synesis Life under CEO Isabel Hudson.
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NAPF-ISS joint venture in ownership change
UK – US-based Institutional Shareholder Services (ISS) and the National Association of Pension Funds have announced that their joint venture, RREV, will now be solely owned by ISS.
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F&C Netherlands makes hires
EUROPE – Liesbeth Rutgers, fixed income chief at private banking outfit Theodoor Gilissen Bankiers, has been appointed institutional business co-director at F&C Netherlands.
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IPE-QUEST: Investor tenders high-yield mandate
GERMANY – A German corporate investor is tendering a mandate worth $100m (€80m) plus for actively managed US high yield debt.
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AP2 appoints new CIO and strategist
SWEDEN - Andra AP-fonden, the roughly SEK190.6bn (€20.5bn) Second Swedish National Pension Fund (AP2) today appointed a new chief investment officer and chief investment strategist (updated).
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Legg Mason revamps structure, management
GLOBAL – Legg Mason has organized its business into three units and revamped its management structure as it absorbs its acquisition of the Citigroup Asset Management business.
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IPE-QUEST: German pension fund tenders equities
GERMANY – Swiss investment consultant Kottmann Advisory has tendered €100m in small and mid-cap European equities on behalf of a German pension fund client via IPE-Quest.
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GSAM wins €750m Océ fiduciary deal
NETHERLANDS - Goldman Sachs Asset Management says it has been appointed to as fiduciary manager for €750m in assets at Stichting Pensioenfonds Océ.
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Austria’s ÖPAG to increase DC benefits
AUSTRIA – ÖPAG, one of Austria’s multi-employer pension funds, says that following a good performance in 2005, it will increase pension benefits for members in its defined contribution plan by between 0.5% and 2.5%.
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Two UK local authorities go unconstrained
UK – Two UK local authority pension funds – London Borough of Enfield and the Lothian Pension Fund - have separately opted to run significant assets in an unconstrained manner.
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French civil service scheme in SRI tender
FRANCE - France’s new civil service additional pensions scheme has launched a tender for fund managers of euro-zone socially responsible investments.
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IMA says managers could run UK national scheme
UK – Fund managers could indeed run the proposed National Pensions Savings Scheme at low cost using institutional management, according to the Investment Management Association.
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Finland’s Varma offloads €74m of retail
REAL ESTATE – Varma Mutual Pension Insurance Co., Finland’s largest private insurance company, has agreed to sell 116 retail properties to a real estate fund.
