Markets – Page 246
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Iceland: unskilled workers’ scheme CIO resigns
ICELAND - Bjarni Brynólfsson, managing director and chief investment officer of Icelandic unskilled workers’ pension fund Framsyn, has resigned to take up the post as chief investment officer of investment company Meidur.
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Henderson’s Benelux director Go leaves
NETHERLANDS – Paul Go, asset manager and director Benelux of Henderson Global Investors in Amsterdam, has left.
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IPE-QUEST: European bank tenders up to €268m
EUROPE – A European bank has tendered an active US mid-cap equities mandate ranging from $250-$350m (€191.8m-€268m) to $350m via IPE-Quest.
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Campina scheme appoints fiduciary manager
NETHERLANDS - The pension fund of Dutch cooperative dairy giant Campina has appointed Goldman Sachs Asset Management as fiduciary manager of a €350m mandate.
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WestAM names new CEO amid institutional push
GERMANY - German institutional fund provider WestAM KAG has appointed a new chief executive and expanded its management board in a bid to invigorate its institutional business in Germany.
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France’s €5bn Cancava in scheme revamp
FRANCE – The €5bn pension fund Caisse Nationale d’Assurances Vieillesse des Artisans, Cancava, has appointed 10 equity managers amid a revamp which saw eight of its former managers dismissed over poor performance.
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Shift to specialists slows down – Russell/Mellon
UK – The shift from balanced to specialist investment management, which has taken place among pension funds in the last 10 years, is slowing down Russell/Mellon says.
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BGI’s ALM head joins Pension Protection Fund
UK – Partha Dasgupta, head of asset/liability management at Barclays Global Investors, has joined the new Pensions Protection Funds as director of investment and finance.
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BNP Paribas wins €5.8bn Sabadell custody brief
SPAIN – Banco Sabadell has awarded BNP Paribas Securities Services a €5.8bn global custody mandate for its international fixed income portfolio which includes the investments of its pension fund.
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Lothian scheme reappoints Hymans Robertson
UK – The £2bn (€2.85bn) Lothian Pension Scheme has reappointed Hymans Robertson to provide actuarial and investment consulting services.
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Unilever CIO quits over asset pooling plan
NETHERLANDS - Walther Schapendonk, chief investment officer at Progress, the pension fund of consumer goods giant Unilever, is leaving amid a plan to pool the scheme’s equity assets.
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Italy’s Banca Etica opens SRI funds to schemes
ITALY- Italian “ethical and ecological” bank Banca Etica has opened its three socially responsible investment funds to institutional investors - entering a market so far dominated by big names.
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Metallrente posts 48% rise in sales
GERMANY - Metallrente, the pension fund for employees in Germany’s metalworking and engineering industries, has posted a 48% rise in sales of its corporate pension in 2004 despite difficult market conditions.
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New shareholders at MetallRente - report
GERMANY - Metallrente, the pension fund for employees in Germany’s metalworking and engineering industries, looks set to get new shareholders as part of a shake-up aimed at boosting sales.
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UK’s Enfield seeks investment consultant
UK – The £370m (€525.9m) London Borough of Enfield Pension Fund is looking for an independent investment consultant.
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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.
