Markets – Page 267
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ETF trading volumes rise 34%
GLOBAL – The average daily trading volume of exchange-traded funds rose 34% in the first quarter, though assets under management in Europe were flat.
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BGI the leading manager of S&P indexed assets
US - As at the end of 2002, Barclays Global Investors was the leading manager of S&P indexed assets, Standard & Poor’s says.
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Research shows European allocation to private equity ‘too low’
UK - Research showing that asset allocation to private equity of nearly 20% for a pension portfolio that 50% invested in equities is an ‘efficient’ figure has been issued by Standard Life Investments (SLI).
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Top staff leave as e628m Dutch fund closes
NETHERLANDS – Senior staff at Rijswijk-based building group HBG’s pension fund will next month leave for new jobs in the Dutch pensions industry.
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Hackney appoints specialists for e509m scheme
UK – The London Borough of Hackney pension fund has announced the appointment of a series of specialist managers for its 350 million pound (509 million euro) scheme.
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UK managed assets total e2.8trn - IMA
UK – Assets managed in the UK as of end of June 2002 were 1.93 trillion pounds (2.8 trillion euros) according to the latest fund manager survey by the Investment Management Association.
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Northern Trust asset arm wins French mandate
FRANCE/LUXEMBOURG – Northern Trust’s asset management arm, Northern Trust Global Investments, has won its first mandate in the French market.
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Borsa Italiana, S&P to launch Italian index
ITALY – The Borsa Italiana and Standard and Poor’s are joining together to launch an index that will become the main indicator for the Italian equities market.
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CSAM names DiMaio as head of alternatives
GLOBAL – Credit Suisse has named Jack DiMaio as chief executive of alternative investments at its Credit Suisse Asset Management division.
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IAPF sees directive leading to a ‘wall of money’
NETHERLANDS - The head of the Irish Association of Pension Funds says he expects a "wall of money" to enter the equity market as a result of the Pension Funds Directive.
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French reserve fund to allocate 55% to equities
FRANCE – Francis Mayer, head of the 13 billion euro French reserve fund, has confirmed that 55% of the fund will be allocated to investments in equities and 45% to fixed interest securities.
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Germany must back pension reform – Allianz
GERMANY – Life insurer Allianz Lebensversicherungs has called for the German federal government to get behind its private pension reform.
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F&C poaches Grainger from Gartmore
UK – F&C Management has appointed Gartmore’s Paul Grainger as director of UK sovereign bonds.
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AP2 re-tenders e759m Swedish equity mandates
SWEDEN – Andra AP-fonden, the second Swedish national pension fund, is re-tendering three Swedish equity mandates totalling up to seven billion Swedish crowns (759 million euros).
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Scandinavian fund in $50m mandate via IPE-Quest
EUROPE – A Scandinavian pension fund is seeking a manager or managers for 50 million dollars in European equities.
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Asset managers expect rise in world equities
EUROPE – IPE’s monthly investment manager survey of expectations of equity and bond market movements reveal asset managers are expecting a rise in equities markets worldwide.
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Gartmore loses out as Torfaen names managers
UK – Torfaen County Council in Wales has appointed managers for four mandates totalling 590 million pounds (869.7 million euros) for its Greater Gwent Pension Fund, resulting in a loss of a UK equity mandate for Gartmore.
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Scottish Widows investment chief resigns
UK – The chief investment officer of Scottish Widows Investment Partnership has resigned.
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HSBC Asset Management hires AXA investment chief
UK – The global chief investment officer of AXA Investment Managers, Chris Cheetham, has left to take up the same role at HSBC Asset Management.
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MLIM loses e441m Fife balanced mandate
UK – Merrill Lynch Investment Managers has seen its 300 million pound (441 million euro) balanced mandate for Fife Council Superannuation Fund in Scotland terminated.
