All articles by Robert Melia Watson – Page 10
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Skandia opens global mutual fund company
UK / IRELAND – Swedish insurance group, Skandia Insurance Company has established Skandia Global Funds, a global mutual fund company domiciled in Dublin but operating from London, New York and Hong Kong.
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Scottish Widows launches SRI fund for Sweden
UK/SWEDEN – Edinburgh-based asset management group, Scottish Widows Investment Partnership (SWIP), has launched a new socially responsible investments fund, the SWIP Pan-European SRI equity fund, specifically targeting the Swedish institutional market.
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FIS appoints new head of institutional business
UK – London-based asset manager Friends Ivory & Sime (FIS) has appointed Robert Mathews as head of institutional business. Matthews will replace Paul Richards, who is leaving to join Goldman Sachs Asset Management.
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BAV figures show Pensionskassen assets up 5%
GERMANY – The book-vale of the traditional Pensionskassen rose from DM 131.7bn (€67.3bn) in 1999 to DM 138.9bn (€71bn) in 2000, according to the latest annual report of the BAV, the federal insurance supervisory body.
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US institutions cut overseas investment
EUROPE/US – The total invested overseas by US institutions fell 25% in 2001, but the overall amount allocated to Europe continued to grow, from 67% to 73%, according to research by research firm Greenwich Associates.
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European ETF market up 29% in 2002
EUROPE – Assets invested in European exchange traded funds (ETFs) have grown 29% in the last six months from $5.6bn (€6bn) to $7.9bn (€8.5bn), according to the latest figures just published by Morgan Stanley Dean Witter. Globally, ETF assets under management rose 17% from $104.7bn (€112.4bn) to $122.3bn (€131.3bn).
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Den norske in merger talks with Storebrand
NORWAY - Norway's largest financial services group Den norske Bank is discussing a possible merger with Storebrand, the country’s largest insurance firm.
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Ex-Orbitex CIO Geffen launches Neptune IM
UK - Robin Geffen, former chief investment officer of New York-based Orbitex Investments, has established a new fund management company, Neptune Investment Management, which has been launched in direct response to Orbitex’s decision to leave the UK.
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European PE investment drops a third in 2001
EUROPE – The total invested in European private equity last year fell a third to €24.3bn while funds raised across Europe last year fell 18.3% to €38.2bn, according to the latest annual survey published by the European Private Equity and Venture Capital Association (EVCA).
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Riester reforms need simplifying to attract savers
GERMANY – Only 1.9m people of a potential 31m have taken out a new private Riester pension plan since they were introduced at the beginning of the year, prompting criticism in the German asset management and insurance industries that the Riester reforms are not working, says German daily financial newspaper, ...
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Duke Street expands in Germany with new hires
UK / GERMANY – London-based pan-European fund management group, Duke Street Capital, has appointed Ervin Schellenberg as director in charge of its German private equity business. Duke Street now has teams working in the private equity markets of France, Germany, Spain and the UK.
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FIS loses institutional director to Goldmans
UK – Paul Richards, the director of institutional business at London-based asset management group, Friends Ivory & Sime (FIS), is leaving the firm to become part of the business development team at Goldman Sachs Asset Management (GSAM).
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East Sussex allocates 3% to private equity
UK – The £1.2bn (€1.9bn) East Sussex County Pension Fund is allocating 3% of its assets to private equity, tendering the mandates currently managed by Gartmore, including a passive portfolio, and replacing them with a single global active mandate. The move follows its three-yearly actuarial valuation undertaken by Hymans Robertson. ...
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UK council funds turn to specialist managers
UK – Local authority pension funds in the UK, which together represent some £90bn (€142bn), are increasingly turning to the use of specialist managers, particularly for fixed income, according to Pensions Investment Research Consultants (PIRC) in its latest annual local authority pension fund yearbook.
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Edinburgh Investment Trust in €2.2bn RFP
UK – The £1.4bn (€2.2bn) Edinburgh Investment Trust (EIT) has put the contract to manage its assets out to tender. The action is the result of uncertainty in the relationship between the trust and its current managers, Edinburgh Fund Managers (EFM)...
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Länsförsäkringar CFO sets up new alternatives firm
SWEDEN – Bo Ennerberg, the chief financial officer of Stockholm-based asset management company, Länsförsäkringar, has left the company to start his own alternative asset management company. Only property is now managed inhouse at Länsförsäkringar...
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North Yorkshire drops Invesco from €268m mandate
UK – The £730m (€1,152m) North Yorkshire Council pension plan is looking for managers for a £170m (€268m) balanced mandate. A spokesman for North Yorkshire says the mandate, currently managed by Invesco, is under review since the fund’s investment committee is not “entirely satisfied” with Invesco’s performance.
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MLIM loses £3bn UK institutional assets this year
UK – The UK arm of Merrill Lynch Investment Managers has admitted losing £3bn (€4.7bn) of institutional business this year in the UK but claims the losses are the result of the trend by pension funds towards specialised asset management and away from Merrill’s main product range- pooled funds.
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Threadneedle restructures insurance AM business
UK – Threadneedle Investments has restructured its £800m (€1,261m) insurance asset management business into a fully-integrated division. The London-based business was formerly known as Scudder Insurance Asset Management before its US based parent company, Scudder was acquired by Zurich.
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New venture to bring managers closer to clients
UK / EUROPE – Former Schroders marketing director Brian Wood has formed a new institutional fund manager events company, Right Angle Partners, to promote greater interaction between investment managers and their clients. The development is aimed at institutional investors and managers across Europe and the US.
