Advisers – Page 112
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News
Allianz hedge arm eyes €2.5bn in assets
GERMANY – Allianz’s hedge fund group, Allianz Hedge Fund Partners, says it expects to raise its assets under management to €2.5bn in the short term amid growing institutional investor demand for hedge funds.
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Dutch tax proposal could boost schemes
NETHERLANDS – Dutch pension schemes could gain out of a tax-change proposal from finance minister Gerrit Zalm aimed at improving the competitiveness of Dutch investment institutions.
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Red tape killing Dutch company schemes - KPMG
NETHERLANDS - Thirty percent of Dutch companies with their own pension schemes are seriously considering abandoning them due to ‘red tape’, says KPMG.
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SSGA's UK MD Wightman resigns (Update)
UK – State Street Global Advisors has lost its second senior executive in less than a week, with the resignation of UK managing director Nigel Wightman (updates with more information).
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New NAPF chairman wants Myners rethink
UK – The incoming chairman of the National Association of Pension Funds has called for a rethink of the Myners Principles of institutional investment, saying it was a mis-step.
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Consultant warns of hedge fund ‘contagion’
UK – A leading pension consultant has warned that hedge funds could represent a contagion to the global financial markets.
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UBS asset management arm nearly doubles institutional fund inflows
SWITZERLAND – UBS Global Asset Management said inflows to its institutional business nearly doubled to CHF 23.7bn (€15.3bn) in 2004.
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Executives choose early retirement over pension tax
UK - The UK government’s decision to impose a cap on people’s pension pot has sparked the first public early retirement plan and warnings of a talent drain of senior executives.
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UK actuaries start huge shake-up after report on conflicts of interest
UK actuaries are facing its biggest shake-up in the last 100 years as the government –appointed expert recommends independent scrutiny of the profession and other measures to address the “quite serious” problems and conflicts of interest it faces.
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DeAM unveils ambitious multi-manager plans
GERMANY - In a much anticipated move Deutsche Asset Management (DeAM) has unveiled its plans to launch multi-manager funds for the German-speaking institutional market and has ambitious growth targets despite slow sales at rivals.
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Port of London fund to tender DeAM-run brief
UK- Deutsche Asset Management (DeAM), which lost €13bn of institutional assets in the third quarter alone, could lose a further £39m(€56m) equity brief as the Port of London Authority Pension Fund is poised to start a portfolio review in the next 12 months.
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AP7 names central bank’s Ragnartz chief analyst
SWEDEN – The SEK5bn (€550m) seventh Swedish national pension fund, AP7, has appointed fund manager Christian Ragnartz of the Central Bank, Sveriges Riksbank, as chief analyst.
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MLIM appoints Anne Swift and warns on equity overconfidence
Merrill Lynch Investment Managers has appointed Anne Swift as its relationship manager and investment officer in the defined contribution pension team but has also warned that institutional fund managers were more overweight in equities than at any time since 1999.
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Aon expands in Swedish pension market
SWEDEN – Aon Consulting says its entry into the Swedish pension consulting market last year has prompted a lot of interest from customers and potential employees.
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FRR seeks SRI, private equity consultants
FRANCE – The French reserve fund, the Fonds de Reserve pour les Retraites, is looking to select consultants to help it select asset managers for socially responsible investment and private equity mandates.
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Dutch schemes invest €51bn abroad
NETHERLANDS - Dutch pension funds invested €51bn in foreign bonds and equities last year, says Statistics Netherlands CBS in a provisional report.
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IPE-QUEST: Four new searches on system
EUROPE – There are four new searches on the IPE-Quest system worth up to $210m on behalf of Swiss investors.
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Universal unveils CTA for pensions
GERMANY - German fund administrator Universal-Investment plans to introduce contractual trust arrangements, which let firms create an external fund to finance their pension liabilities.
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Head of underperforming AP4 gets pay cut
SWEDEN – The president of the SEK151.4bn (€16.7bn) Swedish buffer fund AP4 – which underperformed its benchmark by three points in 2004 – has had his pay cut by almost five percent.
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RBC ousts SocGen in R&M custody survey
GLOBAL – RBC Global Services has knocked Société Générale from the top in a widely-watched survey of global custodians organised by R&M Consultants.
