Markets – Page 241
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Bank of Ireland under scrutiny at Lothian scheme
UK – The £2bn (€2.85bn) Lothian Pension Scheme says it is set to tender for global and Europe (ex-UK) equities, briefs held by troubled Bank of Ireland Asset Management.
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Inarcassa says European equities beat benchmark
ITALY – Inarcassa, the €2.7bn association for self-employed engineers and architects, said its European equity portfolio outperformed its benchmark by 5.63% in 2004.
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JP Morgan eyes profitable German mandates
GERMANY – The head of JP Morgan Fleming in Germany says that winning profitable mandates is the firm’s top priority.
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Allianz Global Investors wins SICK brief
GERMANY - Allianz Global Investors has won one of its first investment mandates for so-called working time accounts, from industrial firm SICK AG.
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Enel pension fund hires new managers
ITALY – Generali Asset Management, Nextra Investment Management and AXA Investment Managers have lost out amid changes at the €360m pension scheme of the partly privatised state energy and gas producer Enel, FOPEN.
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UK councils tender bonds, equities and property
UK - Northamptonshire, Essex and North Yorkshire County Councils have put out requests for tenders for equity, bond and real estate portfolios worth a total of more than £500m (€715.5m).
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IPE-QUEST: Dutch fund tenders high-yield debt
NETHERLANDS – A Dutch pension fund has started a search for a manager for a €150m pan-European high yield debt mandate via IPE–Quest.
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Italy’s Priamo opts for domestic asset managers
ITALY – The Italian pension fund for public transport workers, Fondo Pensione Priamo, has chosen its asset managers – all of whom are Italian.
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IPE-QUEST: Danish scheme tenders equities
DENMARK – A Danish pension fund has tendered two European equity mandates worth a combined €75m via IPE-Quest.
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AXA IM Italia names advisory manager
ITALY - AXA IM Italia, the Milan-based office of AXA Investment Managers, has appointed a new institutional advisory manager to look after its institutional business.
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KBCAM Ireland appoints new equities head
IRELAND – KBC Asset Management (KBCAM) has appointed Geoffrey Randells to the new position of head of equities.
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Irish reserve fund avoids bonds in tactical move
IRELAND – The National Pension Reserve Fund remained underweight its benchmark bond holding last year as a result of a “tactical decision” not to commit to bonds in the current interest rate situation.
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European schemes eye equities – ABN Amro
EUROPE - Pension funds and insurance companies may increase their exposure to European equities amid a less pronounced asset liability risk view, ABN Amro says.
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MTS reports strong trading growth in 2004
EUROPE – Overall trading volumes of the MTS Group, Europe’s premier electronic fixed income market, hit €17 trillion in the period January to November, up 9% on the same period in 2003.
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‘Weakness’ found in Swiss fund
SWITZERLAND – An investigation into the management of the Basle City council employees’ pension fund, the PKBS, has highlighted “weaknesses in organisation” and “ lack of professionalism”.
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Boal defection delivers further BIAM blow
IRELAND – The departure of Bank of Ireland Asset Management UK head David Boal to join five previous defectors to Perpetual Trustees has prompted speculation about its future path.
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UK institutions exit gilts – statistics office
UK – Institutional investors’ net investment in UK government sterling securities, or gilts, fell by £7.8bn (E11.1bn) in the third quarter, according to the Office for National Statistics.
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Morley Fund Management unveils Polish hedge fund
POLAND - Morley Fund Management says it will launch its first hedge fund managed and invested in Poland.
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JP Morgan Fleming institutional head White quits
UK - The head of international institutional business at JP Morgan Fleming Asset Management, Mark White, has left the company after 28 years to “pursue external opportunities”.
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BIAM names global equities director
EUROPE - Bank of Ireland Asset Management has named Morgan Stanley Investment Management’s Paul Boyne as a director with global equities responsibility.
