All Alternatives articles – Page 171
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News
Golman Sachs beefs up cash management team
UK- Goldman Sachs Asset Management has added to its cash management team with the appointment of Richard Norval as executive director with the European cash sales team.
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CalPERS names interim chief executive officer
US- CalPERS has appointed Robert Walton interim chief executive following the departure of James Burton after eight years in the role to head up the World Gold Council in London.
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Aon gets go-ahead for multi manager OEIC
IRELAND- Aon consulting has received regulatory approval for its new Dublin-based open ended investment company, Aon Investment Company. Registered in Dublin, the OEIC will operate from London and provide an integrated service combining investment consulting advice with a manager of managers approach.
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Ex-Phillips & Drew chief executive quits UBS
UK- Robin Hindle Fisher, the former chief executive of Phillips & Drew, is leaving UBS after ten years with the company. Hindle Fisher stepped down as chief executive last year to take a year out and study at the London Business School.
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Governments are failing to harmonise tax laws
EUROPE- A new survey by KPMG of taxation and regulation of funds in more than 70 countries suggests that governments are failing to harmonise tax laws and that progress towards a global investment market remains slow.
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LSE defends Hedge funds in shorting row
UK- The London Stock Exchange has contested recent criticism that aggressive short selling, particularly by hedge funds, is to blame for recent equity market volatility. The challenge follows complaints from companies which have led the Bank of England to consider ways of increasing the disclosure of securities lending activities.
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CalPERS yet to name replacement for departing CEO
US- CalPERS, the US’s largest public pension fund, has yet to appoint a replacement CEO for James Burton who is leaving to become head of the World Gold Council.
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Managers urge agencies to clarify fund definitions
EUROPE- Eleven of Europe’s largest investment managers have clubbed together and are pressurising three major ratings agencies, Standard & Poor’s, Morningstar and Lipper, to introduce more consistency to the way they categorise funds.
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German PE market down 30% in first half of 2002
GERMANY – The private equity market in Germany is heading for what will be its worse year since 1999, despite a pick-up in business in the second quarter of this year, says the BVK, the German private equity association.
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AFG-ASFFI urges French government to reform tax
FRANCE – The French asset management association, the Paris-based AFG-ASFFI, has called on the government to reform the tax system to encourage people to save more and to set up a new regulatory body to ensure the continued growth of the asset management and pensions industry in France.
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IPE launches new international recruitment service
GLOBAL- The publishers of Investment & Pensions Europe magazine (IPE) and sister news service IPE-Newsline.com have launched a new international recruitment service.
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Canada Pension Plan puts e370m in private equity
CANADA- The investment board of the CS$14.3bn (€9.3bn) national Canadian pension fund has announced it is allocating a e370m to three new private equity funds.
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ABP & PGGM curb stock-lending to combat volatility
NETHERLANDS – Dutch pension funds ABP and PGGM, which have combined assets of almost €200bn, have announced joint action to suspend all stock-lending activity for short-selling in order to help combat market volatility.
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Frank Russell adds two to multi-manager complex
IRELAND/UK – Washington-based investment services firm, Frank Russell Company, has appointed two new managers to its150+ Dublin-domiciled multi-manager investment funds.
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Unigestion make senior moves in London and Geneva
SWITZERLAND/UK – Geneva-based alternative investment management group, Unigestion, has made three senior appointments to its teams in London and Geneva.
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AIMA to research extent of UK short-selling
UK – The London-based Alternative Investment Association (AIMA) has welcomed the news that the Financial Services Authority (FSA), the UK’s financial industry watchdog, has called for greater disclosure on short- selling.
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Hewitt enters French investment consulting market
FRANCE- Consultants Hewitt Bacon & Woodrow are entering the French investment consulting market with the purchase of the investment advisor Finance Arbitrage for an undisclosed sum.
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Fortune AM beefs up marketing team
UK– London-based alternative asset management group, Fortune Asset Management, has appointed Peter Arkell and John McDonald as directors within its marketing team in London.
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FSA to investigate short-selling
UK – The Financial Services Authority (FSA) has called for greater disclosure among hedge funds ‘selling short’, amid criticism in the industry that the practice is having a detrimental effect on already-depressed markets.
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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.
