Asset Managers – Page 173
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News
PGGM to increase direct engagement projects
NETHERLANDS – PGGM, the €90.8bn pension asset manager for the care and welfare sector, intends to increase its direct engagement with companies despite initiating more than 80 direct engagement projects on environmental, social and governance (ESG) factors in 2009.
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Barclays targets EU investors with volatility ETNs
EUROPE – Pension funds and other institutional investors are being targeted by Barclays Bank, with the European launch of 12 exchange traded notes (ETNs) including three based on volatility, of which one specifically uses a European index that could be useful in relation to Solvency II.
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BlackRock figures highlight move to passive strategies
GLOBAL – BlackRock has reported net outflows by institutional investors of $39.6bn (€29.9bn) and inflows of $8.9bn, as the global equity rally and tightening credit spreads have caused investors to reconsider investment strategies and shift from active to passive investments.
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UK roundup: F&C, JP Morgan custody, GKN, DB closures
UK – F&C Asset Management has announced plans to acquire specialist investment firm Thames River Capital, while JP Morgan Worldwide Securities Services has been awarded two custody mandates.
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JURI to vote on AIFM amendments
EUROPE - Further changes to the EU’s Alternative Investment Fund Managers (AIFM) Directive are today being aired in Brussels by the Legal Affairs Committee in the European Parliament.
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Manager search activity surged in 2009
EUROPE – Institutional investors in Europe regained their confidence in 2009, as global investment manager search activity increased by almost a quarter over 2008 levels, according to Mercer.
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NewsSSgA streamlining offloads Swiss bond business
SWITZERLAND – State Street Global Advisors (SSgA) has signed an agreement transferring its Swiss institutional fixed income business to banking group SYZ & Co as part of its review of its European business operations.
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NewsRobeco to refocus its energies on pensions
NETHERLANDS - Pure play asset manager Robeco plans to increase its focus on the pensions industry from approximately 50% of current institutional investor business to 60% within the next five years, but will scale back its attention on UK and Italian business.
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Crastes is among senior staff to leave Amundi London
FRANCE/UK – Bruno Crastes, the CEO of Amundi UK, and two other key London managers have resigned their posts at the asset manager created through the merger of Credit Agricole Asset Management and Société Générale.
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SPMS considers APG and BlackRock as new providers
NETHERLANDS - The €5bn pension fund for Dutch medical consultants, SPMS, is planning to swap its present pension provider and asset manager Doctors Pension Funds Services (DPFS) for two larger players.
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LD Invest is upbeat despite €5.2bn LD Pension tender
DENMARK - Henrik Parkhøi, managing director at the DKK67bn (€9bn) Copenhagen-based asset manager LD Invest, remains bullish about his firm’s prospects even though more than 55% of its assets under management are under threat following a call for tenders by LD Pension, its biggest client and majority shareholder.
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Fund managers hope to taste Goldilocks scenario
GLOBAL - Signs of a Goldilocks scenario were promised today for Europe by a monthly survey of fund managers, despite a third of respondents stating they remained underweight the eurozone for the second consecutive month.
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USS assigns managed account ahead of new strategy focus
UK – The £29bn (€32.9bn) Universities Superannuation Scheme (USS) has awarded a hedge fund-related $1bn (€740m) advisory managed account (MAC) mandate to Man Group.
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Hermes GPE private equity arm eyes mid-size pensions
UK – Hermes Fund Managers Limited and Gartmore Investment Management Limited have combined their private equity fund of fund businesses into a new company Hermes GPE LLP, which will have strong focus on responsible investing.
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News
LDI growth strengthens profits for LGIM
UK – Strong new business growth in its LDI business has helped boost profits for Legal & General Investment Management (LGIM), which has just unveiled its 2009 results.
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News
EFAMA calls for action on long-term savings
EUROPE – The European Fund and Asset Management Association (EFAMA)has set out a blueprint for action on long-term savings and retail product distribution within the EU.
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Three in 10 fund managers see European equities as undervalued
GLOBAL - European equity markets are currently seen as "cheap", according to a new survey polling over 200 investors globally.
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Achmea faces shake-up after losing business
NETHERLANDS - Insurance group Eureko is planning a shake-up at its Dutch asset manager and pensions provider Syntrus Achmea, after it lost significant market share in 2009.
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News
UBS reports net institutional outflows
SWITZERLAND – Swiss bank UBS saw institutional net outflows of CHF12.7bn (€8.72bn) last year while former managers received bonus payments, partly in form of additional pension fund contributions.
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News
Austrian severance pay fund finally gains licence
AUSTRIA – After a two year’s wait the tenth severance pay fund fair-finance could announce its licensing today.
