People – Page 204
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News
RLAM wins e204m mandate at West Midlands
UK – West Midlands Metropolitan Authorities' four billion pound (6.3 billion euro) pension fund has appointed Royal London Asset Management to run a 130 million pound (204 million euro) UK non-government portfolio.
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Deutsche AM loses e566m West Sussex mandate
UK – Deutsche Asset Management has lost a 360 million pound (566 million euro) mandate for the West Sussex County Council pension fund. The balanced portfolio, equating to half the entire fund, will now be managed by Edinburgh-based Baillie Gifford.
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AGF reappoints SocGen as global custodian
FRANCE – Société Générale says it has been reappointed as global custodian for Allianz AG’s French insurance subsidiary AGF. The global custody and trustees services for AGF represent 70 billion euros, and the mandate will commence as of July 2003.
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Henderson’s Handley joins SSGA as fund manager
UK – State Street Global Advisors, the ninth largest manager of European pension fund assets, has hired a fund manager from Henderson Global Investors.
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European insurer in e1.5bn search via IPE-Quest
UK - One of Europe's leading insurance companies today notified three US debt searches valued at more than 1.5 billion euros through IPE-Quest.com, IPE’s site that brings together Institutional Investors and asset managers
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Liverpool University fund opts for Jardine Lloyd
UK – Liverpool University’s pension fund has ended its 30-year relationship with consultancy firm Mercers by appointing Jardine Lloyd Thompson to provide actuarial services, consulting and investment advice.
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Allianz Leben says company pensions “booming”
GERMANY – Allianz Leben says its company pensions business is booming, with growth coming from instant pensions and the “breath-taking” development of its Pensionskasse pension fund. But it sees challenges for pension provision ahead.
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UK’s Brown disappoints on pensions
UK - The UK’s Chancellor of the Exchequer Gordon Brown has disappointed industry-watchers for providing no new incentives for pension provision in his pre-budget report.
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UK's Close Bros expands private equity team
UK – Close Brothers Private Equity, private equity arm of the UK merchant bank Close Brothers Group, has hired two new investment managers as the private equity business has taken off, expanding the team’s headcount to 13.
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UK to tweak investment rules
UK - The UK Financial Services Authority is to introduce a series of changes to rules governing the interests of investors in investment companies, including investment trusts. An FSA spokesman says the move is in “reaction to pressure resulting from the split-capital trust issues” and will be “fast-tracked through”.
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Allianz Dresdner boosts alternative offering
UK - Allianz Dresdner Asset Management says it has formed a single manager hedge fund division in a bid to boost its alternative investment business.
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Philippe hires ex-Merrill Europe equity executive
UK - Philippe Investment Management has hired former Merrill Lynch Investment Management European specialist equity chief Consuelo Brooke, with Brooke taking a 5% stake in the company.
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Former Dresdner chief joins UK's Isis
UK - Isis Asset Management says it has hired a former senior executive at Dresdner Kleinwort Wasserstein as its new head of institutional funds.
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TotalFinaElf hires Hewitt Bacon for new scheme
UK - French oil company TotalFinaElf has hired consultants Hewitt Bacon and Woodrow to act as advisor on its newly merged 1 billion pound (1.57 billion euro) UK pension fund. Financial terms of the deal were not disclosed.
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Britannic Asset Management names UK equities head
UK - Britannic Asset Management has appointed Kevin Fenelon as its investment director of UK equities. Fenelon is currently head of UK large cap investments at Britannic and will continue to oversee the business.
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Germany’s MetallRente reaches one million members
GERMANY - MetallRente, the pension fund for Germany’s metal and electric industry, has more than doubled the number of companies it has under contract – in the process taking its potential target coverage to one million. The fund now says it has the potential to become Germany’s largest institutional fund.
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Dundee seeks specialist manager for bond mandate
UK - Dundee City’s £775m (e1.21bn) Tayside superannuation fund is tendering for a fund manager to manage a £93m bond mandate. The scheme joins the latest in a line of UK funds switching from a balanced strategy to a specialist strategy.
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Morley gains e320m mandate from Nationwide
UK- Nationwide Investment Group has appointed Morley Fund Management to run a £200m (e320m) balanced mandate, replacing previous manager Schroders.
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Pioneer boosts German sales team
GERMANY - Pioneer Investments is bolstering its international business with four new appointments to its German sales division.
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Aon appoints Wilken in Amsterdam
NETHERLANDS - Aon Consulting has apppointed Bob Wilken as a senior consultant in its Amsterdam office. Formerly, Wilken held management and account management positions at Delta Lloyd NV.
