All articles by Helen Avery – Page 41
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Belgian funds decline 12% in 2002
BELGIUM – Belgian pension funds produced returns of –12.11% in 2002 according to provisional results released by the Belgian Association of Pension Funds (ABPF).
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Axa Rosenberg wins European equity mandates
EUROPE – AXA Rosenberg has been appointed by two European pension funds, which together have committed almost 250 million euros to the pan-European small cap equity fund.
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German public bank moves into asset management
GERMANY/IRELAND – DePfa Bank, the German public finance bank, has announced an initiative to branch into asset management with the establishment of an in-house fund aimed at global institutional investors.
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German chemical fund announces investment set-up
GERMANY – Chemie Pensionsfonds, administered by HVB, has announced its initial fund strategy as the first cash flows from December begin to roll in – the fund is now around 10 million euros in size.
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UK pension schemes face massive £65bn deficit
UK – Latest estimations by Morgan Stanley put deficits of defined benefit schemes for UK FTSE 100 companies at a massive 65 billion pounds as at the end of 2002, compared to estimates in August last year by UBS Warburg of 28 billion pounds.
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e10bn Dutch scheme to treble private equity assets
NETHERLANDS – The 10 billion euro Dutch railway pension fund, Spoorwegpensioenfonds (SPF), is upping its allocation to private equity from 180 million euros to 500 million euros.
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Invesco loses Skandia business to Blackrock
EUROPE/US – Invesco has been ousted by US firm Blackrock International as fund manager for Skandia Global Funds’ 65 million dollar (59.8 million euro) pan-European equity fund.
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SAM and Monte Paschi in Italian SRI assault
SWITZERLAND/ITALY – Monte Paschi Asset Management and SAM Sustainable Asset Management have established an agreement to work together in an attempt to become the market leader in sustainability investments in Italy.
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Robeco opens new German sales office
NETHERLANDS/GERMANY – Dutch fund manager, Robeco, has opened a sales office in Frankfurt in a bid to break into the German third party distribution market.
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UK fund flags up 'enormous' cost of forex exposure
UK – Pension funds can no longer "be complacent about foreign exchange costs" says fund secretary at the three billion pound (4.55 billion euro) London Regional Transport pension fund, Chris Angell.
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Morgan Stanley hires trio of new managers
UK – Morgan Stanley Investment Management has bolstered its equity investment teams with the addition of three new executives....
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Mercer reports growth figures for 2002
GLOBAL – Consultancy firm Mercer has reported a 2% increase in annual revenues for the period 2002, according to the year-end results of parent group Marsh & McLennan.
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HBOS names Insight department heads
UK – HBOS’s asset management arm, Insight Investment, has announced the new heads of desk for its teams following the acquisition of Rothschild Asset Management in December.
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Pension funds back France's Activa buyout fund
FRANCE – Paris-based private equity firm Activa Capital has attracted European pension funds and fund managers, with a first close of 90 million euros on its mid-market buyout fund.
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Hewitt Bacon & Woodrow boosts UK investment team
UK – Consultancy firm Hewitt Bacon & Woodrow has recruited four new members to its investment team following increased demand.
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Fortis Investment Mgmt opens Milan sales office
ITALY – Fortis Investment Management has opened a sales office in Milan, following the establishment of offices in Frankfurt and Vienna last year.
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Regulator approves new Italian transport fund
ITALY – Italy’s regulatory authorities have given the all-clear to a new complementary industry-wide pension fund for Italy’s workers in public transport services and associated companies, Fondo Priamo.
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ABB taps GMO for e47.8m emerging markets job
SWITZERLAND – Swiss pension fund provider ABB Investment Foundation has appointed Boston-based fund manager, Grantham, Mayo, Van Otterloo (GMO), to run a new 70 million Swiss franc (47.8 million euro) emerging markets equity portfolio.
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Mercer sees greater asset class specialisation
EUROPE – Investment managers will increasingly look to specialise in asset classes in which they perform best, in what is a growing trend away from balanced fund houses to specialist managers, believes a senior consultant at Mercer Investment Consulting.
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Dutch, Swiss funds tender mandates via IPE
NETHERLANDS – A Dutch consultant has placed a tender for a 50 million euro European equity mandate on IPE-Quest on behalf of a Dutch pension fund.
