Markets – Page 292
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Deutsche lands DM2.2bn custody from Wackerchemie
GERMANY – Deutsche Bank Global Securities Services has picked up a DM2.2bn (e1.1bn) custody brief from the pension fund of chemical firm Wackerchemie, following the withdrawal of Credit Suisse from the German depository market....
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Scottish Widows in tie up for Scandinavian push
SCANDINAVIA – Edinburgh based Scottish Widows Investment Partnership (SWIP), is to begin marketing asset management services to retail and institutional investors in Finland, Norway and Sweden through co-operation with Stockholm based Intervalor, a marketing firm of international fund managers in the Nordic region....
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MLIM nabs Morgan Stanley institutional director
UK – Richard Boon, a former director in institutional investment management with Morgan Stanley, is joining Merrill Lynch Investment Managers (MLIM) as managing director and head of the manager’s London based US investment team in July....
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Swedish municipality awards SEK320m in mandates
SWEDEN – The council of Danderyd’s municipality within greater Stockholm has split its investment assets into two roughly equal global balanced mandates....
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San Paolo IMI CIO joins e7.5bn foundation
ITALY – Davide Tinelli, formerly chief investment officer at Milan based San Paolo Imi Institutional Asset Management, has taken up the position of chief financial officer at the e7.5bn foundation Compagnia di San Paolo....
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Northern Trust gets a £11m multi-manager brief
UK – The pension fund for leather manufacturer and exporter Scottish Tanning has awarded Northern Trust Global Investments (NTGI) Europe a £11m (e17.6) multi-manager mandate. The brief is a global one, covering UK and overseas equities and UK bonds. Scottish Tanning is advised by William M Mercer.
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Dutch Origin fund in huge investment restructure
NETHERLANDS – The e400m Utrecht based pension fund of Dutch communications group Origin - the former IT subsidiary of electronics group Phillips - has undergone a mammoth investment restructuring, almost halving its exposure to Phillips owned asset manager Schootse Poort in favour of a range of specialist mandates....
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CSAM launches new Luxembourg funds
EUROPE – Credit Suisse Asset Management (CSAM) is launching two new Luxembourg domiciled funds on May 14, a European convertible bond fund and a specialist global healthcare equity fund....
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Robeco to launch hedge fund of funds product
NETHERLANDS – Rotterdam based Robeco Alternative Investments is to launch a hedge fund multi-manager structure in September/October this year, to meet institutional and private client demand for guaranteed products linked to hedge funds...
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Garrood heads investment operations at Hendersons
Shirley Garrood has been appointed director of investment operations at Henderson Global Investors. And all this week's major people moves in Europe...
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Polish pension assets clear PLZ9bn (e2.5bn)
POLAND – Open pension funds (OFE) run by insurance companies took in PLZ473.1m in investment revenues in the year 2000, less PLZ38.8m in operating costs, according to figures released by the national statistics office, Polska Statystyka Publiczna….
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West AM subsidiary scoops Texas teachers mandate
US/GERMANY – The pension fund for the Teachers Retirement System of Texas, has appointed Criterion Investment Management, the Houston based fixed income arm of Düsseldorf based WestAM, to a US$100m high-yield bond portfolio.
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PGGM leading strategist retires
NETHERLANDS – Marinus Keijzer, an adviser to the director of investments at Zeist based NLG110bn (e50bn) Dutch superfund PGGM is to take early retirement from the scheme....
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Giant Swiss fund goes passive for SFr1.5bn
SWITZERLAND - The SFr20bn (e13.1bn) Geneva-based Swiss Social Security fund AHV-Fonds has appointed two new asset managers for passive global equity mandates totalling SFr. 1.5bn, in the first tactical switch following changes in Swiss law earlier this year…
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Sector funds pool DKr1.5bn with T. Rowe Price
DENMARK – Three sector-wide Danish pension funds have pooled assets and appointed US investment manager T. Rowe Price to run a DKr1.5bn (e201m) global high-yield bond brief....
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Italian pension funds grow by 124% in one year
ITALY – Total assets under management within Italy’s sector-wide and open pension funds increased by a massive 124% from the end of 1999 to the end of 2000, according to figures just released by Italian regulator, Commissione di vigilanza sui fondi pensione (COVIP)….
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European insurance body appoints chief executive
EUROPE - Daniel Schanté has been appointed secretary general and chief executive of the Comité Européen des Assurances, the European insurance federation representing 29 national insurance associations. Plus all the week's major people moves....
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Norwegian authority tenders for NOK800m mandate
NORWAY - The local authority of Larvik has sold its shares in power companies Lardal og Larvik Everk and Vestfold Kraft in order to invest NOK800m (e99m) in the market and is now looking to outsource its domestic investments….
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Sweden's AP7 hires Goldman Sachs and Carlson
SWEDEN – The SEK14bn national PPM default fund Sjunde AP-fonden (AP7) has finalised its external investment manager line-up by appointing Goldman Sachs Asset Management to an e100m active European equity mandate and Carlson Investment Management to a SEK800m (e88.7m) active Swedish equity brief....
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Morley challenges green credentials of FTSE 100
UK – Morley Fund Management, the investment management arm of insurer CGNU, has introduced a requirement in its corporate voting policy for FTSE 100 companies to produce environmental reports on their business activities or risk being voted against at their AGMs....
