Markets – Page 261
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Job cuts inevitable as Aberdeen buys EFM
UK – Aberdeen Asset Management has confirmed that it is buying Edinburgh Fund Managers for 36 million pounds (51.8 million euros).
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Ireland’s NTMA tenders four mandates on IPE-Quest
IRELAND – Ireland’s National Treasury Management Agency has tendered four mandates worth a total of around 650 million euros on IPE-Quest.
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Italian surveyors’ fund tenders two mandates
ITALY – The 1.2 billion-euro Italian pension fund for surveyors has put out to tender two mandates totalling 150 million euros.
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Danish fund tenders credit brief via IPE-Quest
DENMARK – A consulting firm has tendered a mandate of around 125 million euros for a Euro credit manager on behalf of a Danish pension fund via IPE-Quest.
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Morley hires fund managers from UBS, Invesco
UK – Morley Fund Management has boosted its pan-European equities team with the addition of David Shapiro and Daniel Roberts.
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M&G hires NIB investment chief van Gelderen
NETHERLANDS – Prudential M&G is making a push into the Dutch pensions market, with the appointment of Eduard van Gelderen as director of fixed income.
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Edinburgh Fund Managers “close to sale”
UK – Edinburgh Fund Managers is believed to be nearing an agreement regarding its sale.
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Danish fund tenders Euro small-caps via IPE-Quest
DENMARK – A Danish industry-wide pension fund has tendered a mandate for pan-European small-cap equities via IPE-Quest.
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Sweden’s AP2 names new head of equities
SWEDEN – Andra AP-fonden, the second Swedish national pension fund, has hired Nordea Investment Management’s Poul Albaek Winslöw as its new head of equities.
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Portuguese pension funds return +4.7% - Mercer
PORTUGAL – Portuguese pension funds returned a median +4.7% in the first half of 2003, according to a survey by Mercer Investment Consulting.
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AP4 not satisfied with performance vs. benchmark
SWEDEN – The fourth national pension fund Fjarde AP-fonden, or AP4, says its performance against its benchmark in the first half of the year was “unsatisfactory”.
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Pictet Asset Management hires Gartmore’s Steele
EUROPE – Pictet Asset Management has hired Ann Steele from Gartmore as senior investment manager and head of European equity portfolio construction.
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Petroleum Fund gives fixed income custody to Citibank
NORWAY – The Petroleum Fund says it has entered a global custody agreement for fixed income instruments with Citibank.
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Constellation launches global benchmarks
GLOBAL – Investment management firm Constellation Capital Management is to launch a set of global benchmarks aimed at helping pension fund trustees.
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iShares closes nine of its sector ETFs
EUROPE – iShares is to close nine of its sector-based exchange traded funds next month, saying they are “just not a priority for European buyers”.
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Nordea says hit by “major” mandate loss
SWEDEN – Nordea’s asset management division has been hit by the loss of a “major” institutional mandate.
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Danish investment fund assets rise by E605m
DENMARK – Net assets in Danish investment funds increased by 4.5 billion Danish crowns (605 million euros) in the month to the end of July, according to data from the Federation of Danish Investment Associations.
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Swedish pension funds and euro set for debate
SWEDEN - There's to be a debate in Stockholm about the possible impact of the forthcoming euro referendum will have on Swedish pension funds.
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Credit Suisse AM sees asset-allocation role
EUROPE – Institutional investors will increasingly seek asset-allocation advice from their fund managers rather than from their consultant, believes Credit Suisse Asset Management.
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NAPF to push investing in smaller companies
UK – The National Association of Pensions Funds is in talks with the Quoted Companies Alliance about how to inform its members about investing in smaller companies.
