Asset Managers – Page 174
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APG staff sacked for running parallel trades
NETHERLANDS - Asset manager APG has sacked two investment employees for breaching the firm’s code of conduct and parallel trading.
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UK pensions allocate $300m to Bermudan catastrophe risk hedge fund
UK - Eleven UK pension funds allocated a total of $340m (€373m) to a $2.6bn catastrophe reinsurance strategy run by Bermuda-based Nephila Capital in the second half of 2009.
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AllianceBernstein considers target date income drawdown
UK – Alliance Bernstein is investigating the development of income drawdown in retirement, which might follow a target date investment approach so investors continue to make gains on their holdings.
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Competition forces Delta Lloyd to withdraw from German pensions market
GERMANY/NETHERLANDS – The German life insurance and Pensionskassen business of Dutch Delta Lloyd will not be taking on any new clients.
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UK roundup: E.on, ITV, Fujitsu, Warwickshire, Bedford, Hertfordshire, Newham
UK – The £5bn (€5.5bn) E.on UK pension scheme has appointed Cardano as its investment adviser, while ITV has reported its pension deficit more than doubled to £436m in the last year.
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Franklin Templeton to manage listed Romanian compensation fund
ROMANIA - Franklin Templeton has been appointed as the investment manager for a €2.4bn property compensation fund, set up by the Romanian government, to compensate people who lost their homes during former Communist rule.
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Pension fund trust in external management 'has returned'
AUSTRIA/GERMANY – Asset managers saw major outflows from institutional investors in 2008, but some pension funds are now expected to increase the share of externally-managed assets in their portfolios.
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Solvency II to spark search for asset management alternatives
FRANCE - Asset managers will have to offer alternatives to equities if they are to guarantee the best possible return for their investors under the likely constraints of Solvency II, the author of a recent survey of French institutional investors claims.
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PGGM appointed to manage culture and arts pension
NETHERLANDS - The €315m pension fund for workers in the arts and culture sector has appointed pensions provider PGGM as its asset manager.
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Performance fees lift Allianz GI's growth
GLOBAL - A fivefold increase in performance fees helped to boost Allianz Global Investors’ revenue growth by 28% in 2009, and raise its total revenue to €3.599bn last year.
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PNO Media to launch its own provider
NETHERLANDS - The €2.9bn pension fund PNO Media is planning to spin off its services into a separate pension provider, so it can offer its members more than pension products.
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NewsMn Services implements client improvement plan
[15:30 CET 01-03] NETHERLANDS - Mn Services, the €56bn fiduciary manager owned by the PME and PMT pension funds in the Netherlands, is finalising a strategy to improve its overall service to clients and will introduce a dynamic asset allocation model.
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NewsIncrease in products predicted to drive future cross-border market
[16:30 CET 26-02] EUROPE – Hewitt Associates has claimed a third of multi-national companies could have pan-European pension arrangements by 2015, as increased offerings from financial services providers could open the market to mid-sized companies.
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Investors continue to finance climate-friendly projects
[14:00 CET 24-02] GLOBAL – Investment in World Bank green bonds have now surpassed the $1bn (€736m) mark, reflecting a growing interest by investors in climate change adaptation and mitigation projects.
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Union reports record year for institutional business
[17:10 CET 19-02] GERMANY – Union Investment saw its institutional business soar by over 20% to a record high in 2009, fuelled by investor demand for risk management and value protection, according to board member Alexander Schindler.
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Updated GIPS targets risk and compliance
[16:10 CET 18-02] GLOBAL – Revisions to the Global Investment Performance Standards (GIPS) will come into force in January 2011 requiring fund managers to publish a compliance statement on how they have met the GIPS standards and whether they have been verified.
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UK roundup: North Yorks, PPF, PADA
[17:10 CET 17-02] UK – North Yorkshire Pension Fund is planning to tender a "plain vanilla" corporate bond portfolio as it seeks the best way to deploy assets currently invested with European Capital Management (ECM).
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UBS Global AM under renewed pressure following dismissals
[16:00 CET 15-02] UK - UBS Global Asset Management has suffered dismissals by two UK local authority pension schemes.
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Russell sells Pantheon to AMG
[16:55 CET 10-02] UK/US – Multi-manager investment house Russell Investments, has sold its private equity fund-of-funds operations Pantheon Ventures to US asset management firm Affiliated Managers Group for $775m (€564m) in cash.
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NewsSwedish update, Part 2: East Capital, Pensioner tax
[17:05 CET 05-02] SWEDEN - East Capital has temporarily closed one of its funds in the Swedish national defined contribution pension system, known as the PPM.
