Markets – Page 263
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Morley ousts J P Morgan at National Grid fund
UK – The National Grid pension fund has appointed Morley Fund Management to run a 300 million-pound (424 million euro) fixed income mandate, resulting in a loss for J P Morgan Fleming Asset Management.
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Putnam hires J P Morgan bond researcher
EUROPE – Putnam Investments has hired Maria Garcia Lomas from J P Morgan for its European corporate bond research team.
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Swiss manager tenders three mandates on IPE-Quest
SWITZERLAND – A Swiss asset manager has tendered three active equity mandates worth up to 60 million euros in total via IPE-Quest, covering Europe, Japan and Asia.
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Dutch fund tenders Asian equities via IPE-Quest
NETHERLANDS – A pension fund in the Netherlands has tendered a 100-milion euro mandate for Asian equities via IPE-Quest.
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UBS GAM global investment chief to retire
GLOBAL – The global chief investment officer of UBS Global Asset Management, Jeffrey Diermeier, is to retire.
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French reserve fund issues E16bn mandate details
FRANCE – The French pension reserve fund has announced details of 27 mandates worth a combined 16 billion euros to be put out to tender in late July or early August this year.
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Portugal’s Tranquilidade Vida swings to profit
PORTUGAL – Espirito Santo Financial Group says its life and pensions arm, Companhia de Seguros Tranquilidade Vida, made a net profit of 13.2 million euros in the first half, against a loss of 59.7 million euros a year before.
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TRW finds replacement for MacDougall
UK – TRW Investment Management has appointed Roisin Magee to replace managing director William MacDougall, who left abruptly earlier this year.
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Allianz’s Pimco names UK fixed income head
UK – Pimco has named Rothschild Asset Management’s Michael Amey as its new head of UK fixed income.
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ECB pension plan announces manager and custody tender
GERMANY – The European Central Bank is looking for investment managers and a custodian for its 70 million euro retirement plan.
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Pioneer poaches BAM's Robson to head up global equities team
IRELAND – Pioneer Investments has appointed Neil Robson as new head of global equities in Dublin.
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Chevron Texaco hires CSAM for UK bond brief
UK – Chevron Texaco pension scheme has appointed Credit Suisse Asset Management as manager for a 70 million pound (98.9 million euro) UK fixed income portfolio.
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Robeco Alternative offers bond to diversify risk
NETHERLANDS – Robeco Alternative Investments has launched a multi market bond fund aimed at offering investors risk diversification.
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Gartmore offers cautious option to institutions
UK – Gartmore will be offering a cautious managed fund to institutional investors as they seek to reduce volatility.
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European institutions eye US real estate - PGI
EUROPE - European institutions are showing an increased appetite for US real estate, says the new chief executive of US-based asset management firm Principal Global Investors' European operations.
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Fund managers coming out of defensive positions
GLOBAL – Fund managers across the globe are becoming more positive about the economy and are moving out of defensive investments, according to the monthly survey by Merrill Lynch.
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Talbot quits as head of SSGA fixed income to join BGI
UK/US – State Street Global Advisors’ head of international fixed income, Mark Talbot, has left the company to join Barclays Global Investors in the US.
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Belgian funds on course to return 6.5% this year - ABIP
BELGIUM – The Belgian pension fund association says that, on current trends, Belgian pension funds could return around 6.5% in 2003.
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T. Rowe Price hires former ADAM CIO
UK – Laurence Linklater, former chief investment officer at Allianz Dresdner Asset Management, has been appointed by T. Rowe Price International.
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Scandinavian industry fund tenders mandates via IPE-Quest
SCANDINAVIA – A Scandinavian industry-wide pension fund has put out to tender two US equity mandates via IPE-Quest.
