All articles by Jan Wagner – Page 31
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Allianz fund arm makes US disposal
GERMANY - Allianz Global Investors has sold Cadence Capital, a US institutional fund manager, to Cadence’s management and an outside private equity firm for an undisclosed sum.
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Germany’s MAN to set up external pension fund
GERMANY – Engineering giant MAN Group has confirmed plans to remove €1.72bn in pension liabilities from its balance sheet and finance them via an external fund.
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EnBW taps FondsConsult for €3.8bn revamp
GERMANY - Energy giant Energie Baden-Württemberg (EnBW) has hired Munich investment consultant FondsConsult to assist it with a sweeping revamp of €3.8bn in corporate pension assets.
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CDU/CSU sketches plans for pension reform
GERMANY -- The opposition parties that are expected to win Germany’s next general election have hinted that they would further reduce the state pension benefit if they form the next government.
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HVB-Unicredit to centralise asset management
EUROPE – The asset management activities of the merged UniCredit and HVB are set to be centralised in Milan under Dario Frigerio (deletes reference to Matteo Perruccio).
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Group wants boost to German private pensions
GERMANY – Finance industry lobby IFD has urged the government to create the conditions for a doubling of private pension saving by 2015.
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AWD sees boom in corporate pension clients
GERMANY - Citing a boom in demand for corporate pensions products, German financial services firm AWD expects to acquire 5,000 corporate clients by the end of 2005, bringing the products’ share of total sales to 10%.
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JP Morgan’s Reichl joins Bayern-Invest
GERMANY - German institutional fund manager Bayern-Invest has recruited a senior executive from the German arm of JP Morgan for a new seat on its management board.
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Bertelsmann sets up €900m CTA for pensions
GERMANY - Media giant Bertelsmann has emerged as the latest German multi-national to remove its pensions liabilities from the balance sheet and finance them via an external fund.
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Cominvest names new institutional chief
GERMANY - Fund manager Cominvest has appointed Volker Kurr as its new head of institutional business, effective immediately.
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German postal pension fund in €6bn bond sale
GERMANY - The Bundes-Pensions-Service für Post und Telekommunikation, a pension fund for former post and telecoms workers, has launched a sale of €6bn in euro-dominated bonds backed by pension obligations.
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Allianz sets up pension advisory, sales firm
GERMANY - Insurance giant Allianz has created a pension sales and advisory firm in a bid to capitalise on an expected boom in German occupational pensions over the next decade.
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Germany’s DekaBank in pensions consulting tie
GERMANY – Fund manager DekaBank has formed a joint venture with Neuburger & Partner, a Munich-based actuarial and pensions consultancy, to provide pensions consulting to German institutional clients.
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Volkswagen Pension Trust in revamp (Update)
GERMANY - Volkswagen Pension Trust, the pension fund for the German car giant, has completed a sweeping revamp of the way its €1.5bn in pension assets are invested (Updates with clarification, fresh edit).
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Germany’s Rürup wants civil service pension cuts
GERMANY - Professor Bert Rürup, the government adviser on pensions, has provoked the anger of German civil servants by urging the government to cut their pension benefits by one-sixth.
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MLP sees excellent start to Rürup Rente
GERMANY - Independent financial advisor MLP says Germany’s new private pension, the so-called ‘Rürup Rente’ has had an excellent start since being launched last January 1.
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Schroders sees doubling of German business
GERMANY - The chief executive of the German arm of Schroder Investment Management expects to double institutional and wholesale business in Germany and Austria for the second consecutive year in 2005.
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MLIM’s Germany sales head joins AXA
GERMANY - Frank Richter, director of institutional sales for Germany and Austria at Merrill Lynch Investment Managers, is to join AXA Investment Managers.
