Asset Managers – Page 196
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News
PGGM ceases stock lending of foreign financials
[15:25 CEST 24-09] NETHERLANDS – Dutch asset manager PGGM has stopped lending securities of all foreign financial institutions, IPE has learnt, following increased Dutch criticism of the practice of stock lending.
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Hermes 'not interested' in joint venture
[16:15 CEST 23-09] UK – Fund firm Hermes has stated it is not interested in teaming up with other organisations, after it was revealed joint venture talks with Governance for Owners (GO) have fallen through.
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West Midlands allocates 25% to alternatives
[17:00 CEST 22-09] UK – The £8bn (€10bn) West Midlands Pension Fund has confirmed it is investing appxoximately a quarter of its portfolio in alternative assets.
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News
TI Group agrees second buy-in (Update)
[13:15 CEST 22-09] UK – The £1.3bn (€1.7bn) TI Group Pension Scheme (TIGPS), one of the schemes belonging to the engineering firm Smiths Group, has agreed a second £250m (€312m) partial buy-in deal, this time with Paternoster.
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News
Putnam’s money market fund falls victim
[16:45 CEST 19-09] GLOBAL – Putnam Investments has been forced to close its prime money market institutional fund and return the assets to investors, just as consultants warn money market fund liquidity could be the unintended victims of this week’s market turbulence.
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News
Dutch funds' stances differ on stock lending
[14:00 CEST 19-09] NETHERLANDS – Dutch pension funds today showed mixed views on the practice of lending securities of European and US banks.
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News
Financing to keep AIG afloat for break-up
[17:00 CEST 17-09] GLOBAL – The US Federal Reserve has granted global financing firms and their investors a last-minute rescue package by agreeing to invest up to $85bn (€60bn) in American International Group.
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News
HBOS rescue could marry Insight and SWIP
[16:15 CEST 17-09] EUROPE – Insight Investment and Scottish Widows Investment Partnership (SWIP) could be merged into a £200bn (€250bn) asset management house as Halifax Bank of Scotland (HBOS) is in talks with rival Lloyds TSB following fresh falls in its share price.
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News
Central banks pump money markets as AIG shares spiral (amended)
[17:05 CEST 16-09] GLOBAL – Central banks injected huge sums of money into the capital markets today in a bid to prevent from liquidity from seizing up but turbulence in the markets is still driving the price of equities down and bonds prices up as all eyes are now on ...
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News
BlackRock will stay independent
[16:05 CEST 16-09] GLOBAL – BlackRock, the asset manager half-owned by US investment bank Merrill Lynch, today said it will remain independent even after retail house Bank of America (BoA) has picked up its 50% stake in the operation through its proposed acquisition of Merrill.
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News
Lehman Brothers bankruptcy sparks Monday meltdown
[17:10 CEST 15-09] GLOBAL – Pension funds have moved quickly to assess their financial positions today following the Chapter 11 insolvency investment banking giant Lehman Brothers’ voluntary and Bank of America’s takeover of Merrill Lynch, but many are also being advised the unwinding of financial positions could significantly affect asset ...
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News
Swedish buffer funds exclude cluster bomb investment
[16:15 CEST 15-09] SWEDEN – Four AP-funds have agreed to divest from companies involved in the manufacture and sale of cluster munitions following a recommendation by the Ethical Council of the Swedish National Pension Funds.
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NewsJürg Maurer leaves Rieter fund
[17:10 CEST 12-09] SWITZERLAND – The pension fund of Swiss textile company Rieter is losing its portfolio manager Jürg Maurer as he is leaving to set up his own asset management business.
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NewsBoNY Mellon merges Iberian AM
[17:00 CEST 10-09] IBERIA – Bank of New York Mellon Asset Management’s Spanish, Portugese and Andorran operations are merging with WestLB Mellon Asset Management to create a “single point of contact”.
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NewsLehman Bros overhauls firm after $3.9bn loss
[16:55 CEST 10-09] GLOBAL – Investment banking giant Lehman Bros is separating its commercial real estate business as a new listed entity and selling a majority stake in its investment management division after yet more writedowns generated a third-quarter net loss of $3.9bn (€2.76bn).
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News€9.8bn PGB extends SRI portfolio
[14:15 CEST 10-09] NETHERLANDS – The €9.8bn pension fund for the printing and publishing industry Pensioenfonds Grafische Bedrijven (PGB) has awarded a €60m social responsible investment (SRI) mandate to asset manager Threadneedle.
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News
Irish Bill to stop pensions investment in cluster bombs
[13:00 CEST 09-09] IRELAND – The Irish government has drafted a new Bill on investment in munitions such as cluster bombs that will specifically change the investment policy of the National Pension Reserve Fund (NPRF).
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NewsMn Services and Syntrus Achmea set aside differences
[11:45 CEST 09-09] NETHERLANDS – Pension providers Mn Services and Syntrus Achmea intend to reach an agreement on merging the two companies within eight weeks, setting aside earlier shareholder issues.
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News
Brinkman foresees Optas agreement
[11:00 CEST 09-09] NETHERLANDS – Elco Brinkman, the exiting chairman of the Dutch teachers and civil servants pension fund ABP, will continue his mediation in the Optas case and may deliver his a conclusion within the next four weeks.
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NewsUCITS III 'heading for mid-life crisis'
GLOBAL – The investment industry is calling for next generation UCITS IV structures as the credit crunch is hindering the short-term growth of Undertakings in Collective Investments and Securities (UCITS) funds, suggests a survey by Create-Research.
