Markets – Page 277
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Risk is key investor concern in manager selection
EUROPE – Risk control is now the most important factor investors consider when employing external asset managers, according to the latest Invesco annual survey of European institutional investors and their markets. In sharp contrast, risk control didn’t even figure in the top six factors in 2000.
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State Street appoints equity sales head for Europe
UK/EUROPE – Boston-based financial services group, State Street Corporation, has appointed Justin Shinebourne as head of its equity sales for Europe.
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UK private equity continues to outperform equities
UK- Private equity investments in the UK have outperformed UK pension fund assets over the past three five and ten years according to figures published by the British Venture Capital Association.
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Credit Agricole picks up e740m Italian mandate
ITALY- Italian insurance company Po Vita has awarded Credit Agricole Group’s Italian asset management company a balanced mandate worth e740m to oversee its technical reserves.
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Morley launches first SRI fund in Germany
GERMANY- Morley Fund Management and Delta Lloyd Investment Managers, both members of the Aviva Group, have launched a new active socially responsible mutual fund in Germany.
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DKW raids Deutsche's securities lending team
UK/US– Dresdner Kleinwort Wasserstein (DKW) has poached four more members of Deutsche Bank’s agency securities lending team in order to build up its own new securities lending division.
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Lazard appoints new head of UK operation
UK – New York-based Lazard Asset Management (LAM) has appointed Bill Smith as managing director and co-chief executive officer to take care of its London-based UK operation.
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F&C investment head quits for public sector career
UK- Arnab Banjeri, head of investments as F&C Management is leaving to pursue a career in public services following his appointment last year as a member of the advisory panel of a government think tank.
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Non-US stocks dumped from S&P500 index
US – Index provider Standard & Poor’s has dropped seven non-US companies from its S&P 500 index and replaced them with US companies, in a move that means the index is composed exclusively of US companies.
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Gartmore appoints director for UK clients
UK- Geraldine Wright is joining Gartmore as an account director for UK institutional clients, a role that sees her responsible for a number of pension fund clients. Wright will report to head of client services Elaine Gordon and will work closely with both the client service and investment management teams.
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PAIL launches European hedge fund of funds
UK – London-based alternative management firm, Progressive Alternative Investments Limited (PAIL), is to launch a new closed-end fund of European hedge funds, the Progressive European Alternative Portfolio.
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New Dutch fund names F&C as sole manager
NETHERLANDS- The Dutch transport workers sector fund Vervoer has named F&C as the sole manager for its recently-established early retirement fund.
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Dutch funds' PZH picks Vanguard for e450m mandate
NETHERLANDS- PZH, the body working on behalf of six medium-sized Dutch funds that began co-ordinating their operations earlier this year, has awarded Vanguard Investment a e450m passive mandate.
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Margins for UK and Ireland managers fall a third
UK/IRELAND – Fund managers in the UK and Ireland saw overall profit margins fall from 33% to 23% in 2001 following the shift from defined benefit to defined contribution and poor growth of the retail sector says PricewaterhouseCoopers’ latest annual survey of fund managers in the UK and Ireland.
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PIMCO poaches BGI's Pardi as southern Europe head
UK/EUROPE- Specialist fixed income manager PIMCO has appointed PeterPaul Pardi as head of business development for southern Europe. Pardi was most recently head of southern European institutional business at Barclays Global Investors. Pardi, who joined this week and is based in London, reports to Joe McDevitt, head of PIMCO in ...
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F&C appoints head of Dutch operation
NETHERLANDS- Henk Breukink has been named as head of F&C Management’s operations in the Netherlands as of next month. Breukink has been interim head of the Dutch operation since last November and he takes over the job from chairman of the board Alain Grisay.
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Three institutions launch RFPs worth a total $190m
GLOBAL- A continental European insurance company is looking, via the electronic manager search system IPE-Quest.com, for a manager to oversee a $100m corporate Eurodollar debt mandate.
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Multi manager industry to double to $1trn by 2007
GLOBAL- Investments worldwide in multi-manager products are set to double to over US$1 trillion by 2007 according to proprietary data and analysis from the US research and consultancy firm Cerulli Associates.
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Morley hires ex-Schroders head of UK equities
UK- Morley Fund Management has hired Bill Baker to run a range of UK pooled and segregated pension funds. Baker joins as a senior member of the 11-strong UK equities team in September and will report to Mike Bishop, head of pan European equities.
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European & Emerging markets offer best prospects
GLOBAL- An increasing number of investment managers believe the best earnings are expected to come from European and UK markets while the profit outlook for global emerging markets remain the most attractive according to the latest Merrill Lynch fund manager survey.
