Markets – Page 220
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KBCAM Ireland appoints new equities head
IRELAND – KBC Asset Management (KBCAM) has appointed Geoffrey Randells to the new position of head of equities.
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Irish reserve fund avoids bonds in tactical move
IRELAND – The National Pension Reserve Fund remained underweight its benchmark bond holding last year as a result of a “tactical decision” not to commit to bonds in the current interest rate situation.
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European schemes eye equities – ABN Amro
EUROPE - Pension funds and insurance companies may increase their exposure to European equities amid a less pronounced asset liability risk view, ABN Amro says.
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MTS reports strong trading growth in 2004
EUROPE – Overall trading volumes of the MTS Group, Europe’s premier electronic fixed income market, hit €17 trillion in the period January to November, up 9% on the same period in 2003.
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‘Weakness’ found in Swiss fund
SWITZERLAND – An investigation into the management of the Basle City council employees’ pension fund, the PKBS, has highlighted “weaknesses in organisation” and “ lack of professionalism”.
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Boal defection delivers further BIAM blow
IRELAND – The departure of Bank of Ireland Asset Management UK head David Boal to join five previous defectors to Perpetual Trustees has prompted speculation about its future path.
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UK institutions exit gilts – statistics office
UK – Institutional investors’ net investment in UK government sterling securities, or gilts, fell by £7.8bn (E11.1bn) in the third quarter, according to the Office for National Statistics.
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Morley Fund Management unveils Polish hedge fund
POLAND - Morley Fund Management says it will launch its first hedge fund managed and invested in Poland.
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JP Morgan Fleming institutional head White quits
UK - The head of international institutional business at JP Morgan Fleming Asset Management, Mark White, has left the company after 28 years to “pursue external opportunities”.
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BIAM names global equities director
EUROPE - Bank of Ireland Asset Management has named Morgan Stanley Investment Management’s Paul Boyne as a director with global equities responsibility.
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Morgan Stanley adds $22bn in institutional assets
GLOBAL – Morgan Stanley Investment Management gained $22bn (E16.5bn) in institutional assets in the fourth quarter – taking total institutional AUM to $222bn.
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AP3 changes mandate structure for US equities
SWEDEN - The 152 billion-crown (17 billion-euro) Third Swedish National Pension Fund, Tredje AP-fonden or AP3, has divided its 15 billion-crown US equity portfolio into three market-cap brackets.
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Metzler in German institutional asset boost
GERMANY - Citing robust investor demand for so-called “master funds,” Germany’s Metzler Asset Management says its institutional assets under management (AUM) have increased by almost one-third this year.
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Fortis Bank appoints new global head equity finance
NETHERLANDS – Dutch bank insurer Fortis Bank has appointed Andrew Stuart as global head equity finance sales in London.
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Northern Trust: ‘bond fundamentals remain strong’
UNITED STATES – Chicago-based banking giant Northern Trust sounded an upbeat note on the bond market, saying fundamental averages of bonds remained “strong”.
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Lancashire CC Pension Fund allocates mandates
UK – The £2.5bn (€3.56bn) Lancashire County Council Pension Fund has appointed two new asset managers and retained two of his previous managers in a revamping of its portfolio. The changes followed an investment strategy review earlier this year.
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Dorset County PF names new hedge fund manager
UK -- Dorset County Pension Fund has appointed London and New York-based fund of hedge funds manager International Asset Management (IAM) to manage a diversified portfolio of hedge funds.
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Italy’s Pegaso switches investment strategy
ITALY - The €103m pension scheme for the employees of the gas and electricity industries is looking for seven asset managers as it changes its investment strategy to cater for its members’ different attitudes to risk.
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UK managers unveil new hedge and cash funds
UK -- Threadneedle Asset Management is to launch its Threadneedle Global Crescendo Fund towards the end of the first quarter of next year.
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F&C unveils inflation-linked bond fund
EUROPE - F&C Asset Management has launched a euro-denominated inflation-linked bond fund aimed at pension funds and insurance companies struggling with liabilities.
