Markets – Page 272
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UK firms providing wider funds choice – report
UK – UK companies with defined contribution schemes are providing employees with an increasingly wide choice of investment funds, says consultants Watson Wyatt.
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Netherlands’ Gamma awards Russell e175m mandate
NETHERLANDS – Dutch textiles company Gamma Holding has appointed multi-manager specialist Frank Russell to manage a 175 million euro equity and bond portfolio for its 340 million euro pension fund.
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Chiswell names head of pension fund marketing
UK – London-based investment manager Chiswell Associates has appointed Simon Hill as its new head of pension funds marketing in a push to develop its institutional pension fund business.
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HBOS names managers at Rothschild Asset Management
UK – HBOS’s investment arm, Insight Investment Management, has announced its new senior management structure following the acquisition of Rothschild Asset Management this week.
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Shell sticking with defined benefit plans
UK – The head of investment policy for Shell’s pension funds says the oil company’s pension funds are sticking with defined benefit pension schemes because it suits the organisation very well.
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HBOS confirms e98m acquisition of Rothschild AM
UK – Rothschild’s asset management arm has officially been sold to HBOS’s fund management arm, Insight Investment Management, for 61 million pounds (95.8 million euros).
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Belgacom pension fund tenders equity mandate
BELGIUM – The pension fund of Belgian telecoms provider Belgacom SA has put out to tender an international equity mandate.
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Deutsche AM says UK fixed income chief to leave
UK – Deutsche Asset Management’s chief financial officer for fixed income in the UK, Ian Clarke, will be leaving the company, in what is believed to be a mutual agreement between the two parties.
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RBC unit eyes European bond, equity mandates
UK – The new chief operating officer at the Royal Bank of Canada’s Voyageur Asset Management says that managing US equity and bond mandates of European pension funds will be key to its expansion.
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Glasgow IM ousts MLIM at Diageo
UK – UK drinks company Diageo says it has appointed Glasgow Investment Mangers to run a 280 million pound (438.6 million euro) all-equity mandate, taking over from Merrill Lynch Investment Managers, though MLIM still retains a European equities mandate.
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Pioneer names fixed income head in Dublin
IRELAND – UniCredito Italiano’s asset management arm Pioneer Investments has named a new head of fixed income in Dublin, Raffaele Bertoni. He will report to Mauro Ratto.
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Prudential focuses on European asset management
US – US-based Prudential Financial is to scale back its European brokerage activities to focus on asset management.
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Spain: Credit Suisse launches bond-only pension
SPAIN - Credit Suisse’s insurance and pensions division has launched a fixed income-only pension plan in Spain, citing new customer demand.
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Hedge funds see steady stream of interest - report
US - Institutions are showing a steady stream of interest in investing in hedge funds, according to new research by industry tracking outfit Tass.
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Specialists oust Gartmore, Schroders at Worcester
UK - Gartmore Investment Management and Schroders Investment Management are the latest balanced portfolio managers to be dropped by a UK local authority in preference to specialist managers.
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Powys awards co-managers for equity portfolio
UK – The Welsh County Council of Powys’ 160 million pound (251.5 million euro) pension fund has appointed AllianceBernstein and AXA Rosenberg to jointly manage its global equity portfolio, after Baring Asset Management (BAM) was dropped in January.
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Finland: discretionary management to rise
FINLAND - Around 20% of Finnish institutional investors say they will increase their use of discretionary and mutual fund management by the end of 2004, according to an industry report released in November by Scandinavian Financial Research (SFR).
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GSAM names new fixed income and currency boss
EUROPE- Goldman Sachs Asset Management has named Philip Moffitt as the new co-head of the London-based global fixed income and currency team alongside Andrew Wilson. Moffit joined Goldman Sachs three years ago as a senior portfolio manager in the currency team.
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Dresdner wins e45m HBG Asian mandate
NETHERLANDS - Holland Beleggings Groep (HBG), subsidiary of insurance giant Zwolsche Algemeene, has appointed Dresdner RCM to manage its 45 million euro Asian equity mandate. The fund was formerly managed by Lombard Odier.
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Belgacom eyes mandate and management change
BELGIUM - The pension fund of Belgium’s telecommunications provider, Belgacom SA, has announced that it will be looking for fund managers in the near future. The nature of the mandate(s) has not yet been decided, but the tender(s) is/are expected in the coming months.
