Markets – Page 245
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Inarcassa names Di Grazia as general manager
ITALY – Inarcassa, the 2.3 billion-euro association which provides pensions for self-employed engineers and architects, has named Alfio Di Grazia as general manager.
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ING named as manager fired by SFN (Update)
(Updates with name of manager) NETHERLANDS - Stichting Flexibel Uittreden Nutsbedrijven, the 348 million-euro fund for the Dutch utility sector, has withdrawn a 175 million-euro balanced mandate from ING Investment Managment and handed it to Barclays Global Investors.
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Northern boosts European transition management
EUROPE - Northern Trust Global Investments says it has former Instinet executive Simon Hutchinson as strategist for transition management in Europe.
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Fidelity Investments names UK DB MD
UK - Fidelity Investments has named Martin Harris as managing director of UK Defined Benefits reporting to David Stewart, president of the European Institutional Business.
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Former Varma CEO Pitkänen retires
FINLAND - Paavo Pitkänen, the former president and chief executive of Varma Mutual Pension Insurance Co., has retired from the company.
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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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IPE-QUEST: Multi-manager tenders Japan equities
EUROPE - A European multi-manager has tendered an actively managed Japanese large-cap or all-cap equity brief through IPE-Quest.
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Watson, Hewitt involved in Austrian hedge move
AUSTRIA – Consulting firms Watson Wyatt and Hewitt bacon & Woodrow are both involved in an Austrian hedge fund venture launched by Raiffeisen Capital Management.
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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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HSBC AM hires two European equity managers
UK - HSBC Asset Management has appointed Legal & General’s Simon Sharp and Lazard Asset Management’s Angus Parker as senior European equity portfolio managers in London.
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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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Invesco German economist Kraemer joins HVB
GERMANY- Invesco Asset Management Deutschland’s Joerg Kraemer is to leave the company to join Munich-based HypoVereinsbank.
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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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Hermes’ Macdonell joins Northern Trust
UK - Northern Trust Global Investments says it has hired Hermes Focus Asset Management’s manager of UK investments, Helen Macdonell.
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E1.2bn county council Warwick revamps
UK - The 800 million-pound (1.18 billion-euro) Warwickshire County Council Pension Fund has reshuffled its asset managers in a revamp.
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European fund managers turn bearish - survey
GLOBAL- European fund managers have succumbed to the same bearishness as their colleagues worldwide, Merrill Lynch’s monthly survey of fund managers has found.
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UK pension assets rise 16% to E1tn – report
UK – Pension fund assets in the UK have risen 16% to 709 billion pounds (1.06 trillion euros) as at the end of 2003, according to a new report.
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Schroders loses E5.9bn in UK balanced mandates
UK – Schroders says it lost four billion pounds (5.9 billion euros) in balanced mandates in the first half as UK clients continued to restructure their portfolios – but added the revenue impact is “limited”.
