Markets – Page 262
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Allianz: still no asset management profits
GERMANY – Allianz Group’s asset management business is still unprofitable, despite increasing its assets by 3.1% over the first half of this year to 1.02 trillion euros.
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Sweden’s SEB posts E287bn profit as AUM rises
SWEDEN – SEB Group has announced net profit of 2.64 billion Swedish crowns (287 million euros), and an increase in assets under management for its fund units.
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UBS GAM says its institutional margins rise
SWITZERLAND – The margins on UBS Global Asset Management’s institutional business rose to 35 basis points in the second quarter, up from 29 basis points in the first quarter of the year.
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Institutions eye fixed income – Threadneedle
UK – Threadneedle Investments says it anticipates that institutions will raise their allocations to fixed interest due to a change in the way pension fund liabilities are measured.
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Global fund managers go underweight bonds - Merrill
GLOBAL – Fund managers have dramatically changed their interest rate views over the past month, leading to a sharp move underweight in bonds, according to the latest fund manager survey by Merrill Lynch.
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SWIP hires again from Edinburgh Fund Managers
UK – Beleaguered Scottish fund manager Edinburgh Fund Managers has lost another of its UK equity team to rival Scottish Widows Investment Partnership.
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Belgian fund tenders E20m EM mandate on IPE-Quest
BELGIUM – A Belgian industry-wide pension fund has tendered a 20 million-euro actively managed emerging markets equities mandate via IPE-Quest.
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SWIP swoops for Edinburgh’s Waugh
UK – Robert Waugh, head of UK equities at Edinburgh Fund Managers, is leaving to join Scottish Widows Investment Partnership.
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Mideast body tenders equity mandate via IPE-Quest
EUROPE – A public institution in the Middle East has tendered a 100 million-dollar plus mandate for actively-managed pan-European Mid Cap Equities.
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ABN Amro’s asset mgmt profit falls 15%
NETHERLANDS – Net profit at ABN Amro’s asset management division fell 15.2% in the first half, hit by weak conditions in the global market.
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Irish managed funds return over 2% in July
IRELAND – The average group pension managed fund in Ireland rose by more than two percent in July, according to new data.
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Schroders’ institutional sales head joins PIMCO
UK – PIMCO has hired Paul Craven, the former head of UK institutional sales at Schroders.
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French reserve fund tenders mandates
FRANCE – The Fonds de Reserve pour les Retraites has now put out to tender the mandates for the entire 16 billion-euro retirement reserve fund.
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Water scheme awards SSGA passive mandate
UK – The 300 million-pound (426.7 million euro) Water Companies Pension Scheme has appointed State Street Global Advisors to manage over two-thirds of its assets.
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Hackney seeks actuary and property manager
UK – The London borough of Hackney is looking for an actuarial consultant and a property fund manager for its 340 million-pound (486 million euro) pension fund.
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Jupiter under scrutiny in Somerset revamp
UK – Somerset County Council’s 600 million pound (855 million euro) pension fund has put out two tenders for a UK bond mandate and a UK property manager of managers mandate following an overhaul of its investment strategy.
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Morley wins E2.9bn in new mandates
UK – Morley Fund Management has won two billion pounds (2.9 billion euros) of new external mandates this year so far – up one billion pounds on the same period last year.
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Insight hires Schroders’ European research head
UK - Insight Investment has hired Schroder Investment Management’s head of pan-European research, Nick Anderson, to be its new head of equity research.
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Belgacom names four global equities managers
BELGIUM – The 3.3 billion-euro pension fund for telecoms operator Belgacom has appointed four managers to run a new international equity portfolio.
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M&G gains almost E1bn in institutional funds
UK – M&G says it saw net institutional fund inflows of 704 million pounds (996 million euros) in the first six months of 2003.
