Markets – Page 249
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Axa hires Nutbrown for new tactical asset allocation division
Axa Investment Managers has hired Kieron Nutbrown to take the new role of head of tactical asset allocation (TAA) under his old boss, Paul Griffiths.
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Martin Currie sees big mandate wins but denies sale rumour
UK - Martin Currie Investment Management has won significant new mandates in its latest financial year but has denied speculation that its latest appointment signifies its planned sale.
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IPE Seminar: Risk, Costs and Interest Rates
EUROPE – Top European pension executives have told the IPE Awards seminar in Zurich today that cost cutting, inflation and attitude to risk are among the most significant challenges for the future of the industry.
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TKP Pensioen takes over E13m Brunner Mond scheme
NETHERLANDS – TKP Investments BV, a subsidiary of the Dutch life insurer giant Aegon, is to manage the assets of the €13m Stichting Pensioenfonds Brunner Mond.
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New Italian institutional fund launched
ITALY - Italian asset manager Arca SGR has launched a mutual fund to meet the needs of institutional investors called Anfiteatro – MultiInvestmentFund.
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Sweden's AP3 names new management team
SWEDEN - The 142 billion-crown (15.2 billion-euro) Third Swedish National Pension Fund, AP3, has appointed a new nine-strong executive management team that includes two new members.
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Nomura ousts Schroders at London transport fund
UK – Schroder Investment Management has lost a 215 million-pound (307.2 million-euro) mandate to Nomura Asset Management as the London Regional Transport Pension Fund (LRTPF) changes management for its active Far Eastern Equity portfolio
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Mercer president leaves MMC board
GLOBAL – Peter Coster, president of Mercer Inc., has left the board of troubled Marsh & McLennan Companies along with four other directors as part of corporate governance effort.
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Gartmore UK CEO Jones quits, may run own firm
UK – Glyn Jones, chief executive of Gartmore in the UK, has resigned, with group CEO Paul Hondros taking direct responsibility for the firm’s integrated business.
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Italian railway scheme selects first managers
ITALY - Eurofer, the 104 million-euro pension fund for railway workers, has selected its first asset managers.
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Schroders loses further E3.8bn institutional assets
UK – Schroders says it lost 2.7 billion pounds (3.8 billion euros) in institutional assets in the third quarter, including 1.6 billion pounds in fixed income assets managed for a single client.
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Lane Clark & Peacock to launch “one-man DB”
UK – Actuarial consulting firm Lane Clark & Peacock is to launch a defined contribution scheme that targets a specified level of pension benefits - which it likens to a single-member defined benefit scheme.
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F&C says poised to decide on outsourcing
EUROPE – The merged F&C-ISIS is poised to issue an announcement tomorrow about the outsourcing deals the combined group has with J P Morgan and Mellon.
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FRR says SRI part of social protection role
FRANCE – The 18.5 billion-euro Fonds de Réserve des Retraites has provided more details on its socially responsible investing strategy, saying: “We belong to the social protection system.”
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IPE-QUEST: Multi-manager tenders equities
EUROPE - A European multi-manager has tendered two equities mandates totalling 60 million dollars (46.6 million euros) through IPE-Quest.
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DeAM, Schroders lose out at Avon Cosmetics
UK - Deutsche Asset Management and Schroder Investment Management have lost out with the 102 million-pound (146.5 million-euro) pension scheme of Avon Cosmetics switching from a balanced to specialist strategy.
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Blood and Gore set up London-based asset manager
UK – Former US Vice President Al Gore and former Goldman Sachs Asset Management CEO David Blood have set up a new London-based asset management firm targeting pension funds.
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PME cites single manager risk for F&C withdrawal
LONDON - PME, the 14 billion-euro Schiphol-based metal workers fund, has switched one billion euros of assets away from F&C Management to new providers.
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EIB to issue 'longevity bond' for pension schemes
EUROPE - The European Investment Bank is to issue a 25-year 540 million-pound (775 million-euro) bond as part of a product designed by BNP Paribas aimed at protecting UK pension schemes against longevity risk.
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Italy’s Solidarieta’ Veneto tenders for managers
ITALY - Solidarieta’ Veneto Fondo Pensione, the regional pension fund for blue-collar workers, is looking for three asset managers for its 60-million-euro fund.
