All articles by Jan Wagner – Page 37
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News
New CEO named for Chemie Pensionsfonds
GERMANY - Chemie Pensionsfonds AG, the pension fund for the German chemical industry, has appointed Martin Großmann as its new chief executive, effective immediately.
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Germany: Activest to cut 10% of fund managers
GERMANY - Activest, Germany’s fifth-largest provider of institutional funds, has confirmed plans to let go around 10% of the 80 fund managers it employs for both mutual and institutional funds.
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RCP unveils German online asset manager tool
GERMANY - Rating agency RCP & Partners has launched a new online tool enabling retail and institutional investors to obtain detailed information about asset managers and their products in either English or German.
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MAN, Deka in German hedge venture
GERMANY – MAN Group, a UK-based specialist in hedge funds, is teaming up with Germany’s Deka to offer a fund of hedge funds, or Dachhedgefonds, to German retail and institutional clients from the first quarter of 2005, IPE has confirmed.
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Germany’s Deka in E1.9bn outflow
GERMANY - Deka Bank, Germany’s third-largest provider of institutional funds, or Spezialfonds, has admitted that outflows from its Spezialfonds totalled 1.9 billion euros in the first nine months of 2004.
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German institutions dissatisfied - study
GERMANY - A majority of small German institutional investors are dissatisfied with their investments, complaining that they are neither diversified enough nor managed by world-class professionals, a new study has found.
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DeAM set for sweeping revamp - report
GERMANY - Kevin Parker, the new head of Deutsche Bank’s asset management activities, is to unveil a sweeping restructuring, placing a particular emphasis on embattled Deutsche Asset Management in the UK, a German newspaper has reported.
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Klaus Heubeck offers to buy firm back from FJH
GERMANY - Professor Klaus Heubeck, former owner of German pensions advisor Heubeck AG, has made an offer to buy back the company from loss-making FJH, IPE has learned.
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Fidelity set to launch German KAG
GERMANY - Fidelity Investments says it is to launch a German investment company, known as a KAG, from January 2005 to create German-domiciled funds for institutional and retail investors.
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Germany’s Union targets institutions - interview
GERMANY - Union Investment, a manager of German institutional funds, or Spezialfonds, has set a goal of raising institutional assets under management in Germany by as much as one-third three years from now.
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US ELECTION: impact on European asset managers
EUROPE - Europe’s asset management industry can expect a short-term rally on equity markets following the likely re-election of George Bush as US president, though this rally has less to do with his victory than with economic fundamentals, experts said.
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German institutional funds up 3.6%, BVI says
GERMANY - Despite lacklustre financial markets, the volume of German institutional funds, or Spezialfonds, saw an increase of 3.6% in the first nine months of this year, statistics from German fund industry association BVI show.
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Germany: Universal adds E5bn institutional AUM
GERMANY - Universal Investment, a German provider of institutional funds, or Spezialfonds, said net inflows to the funds totalled 5.4 billion euros in the first nine months of this year – the highest of any provider based on statistics from German fund industry association BVI.
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Deutsche asset strategy queried amid AUM slump
GERMANY – Deutsche Bank’s asset management strategy has come under scrutiny in the wake of disclosures that its institutional fund arm DeAM lost 13 billion euros in assets in the third quarter.
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Deutsche chief signals possible asset job cull
GERMANY - Rolf Breuer, chairman of Deutsche Bank’s supervisory board, has signalled further job cuts the bank – possibly in its investment banking and asset management businesses – as it scrambles to meet profit targets.
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Deutsche miscalculates German hedge fund demand
GERMANY - DWS, the mutual fund arm of Deutsche Bank, has admitted that net inflows to its three new German hedge funds have totalled just a fraction of the one billion euros estimated by its chief executive for 2004.
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European asset managers boost profits – study
EUROPE - European asset managers were able to moderately improve their profitability and efficiency last year, according to a new study by the German arm of consulting firm McKinsey & Co.
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Germany to deregulate occupational pension funds
GERMANY - The German finance ministry has unveiled a draft law providing for sweeping de-regulation of the country’s two occupational pension funds, known as Pensionskassen and Pensionsfonds.
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Universal targets institutions in marketing push
GERMANY - Universal Investment, one of Germany’s top providers of institutional funds, or spezialfonds, is launching a marketing offensive in a bid to invigorate its low-volume mutual funds business with institutional clients.
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Deka dismisses real estate executives
GERMANY- Deka Bank has fired three senior executives in charge of its real estate fund arm, claiming the executives lied about the true value of its investments in German real estate.
