Markets – Page 231
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DeAM nabs Schroders' Hillier for Euro equities
UK - Deutsche Asset Management UK has hired Piers Hillier as head of institutional European equities.
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BGI names European transition head
GLOBAL - Barclays Global Investors has hired Rory Tobin from investment bank J P Morgan as director of transitions, Europe, a new role.
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L’Oreal awards E35.6m to Russell
UK – The L’Oreal (UK) Ltd. Retirement Benefits Plan has awarded Russell a global equity mandate worth more than 24 million pounds (35.6 million euros) - 22% of the total plan assets.
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Monarch taps Northern Trust for E90m
UK - Northern Trust is to manage a 60 million-pound (89.9 million-euro) manager-of-managers equities brief for the Monarch Airlines Ltd. Retirement Benefits Plan in the UK.
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Belgian fund tenders in equities via IPE-Quest
BELGIUM - A Belgian pension fund has tendered a 30 million-euro global equities mandate through IPE-Quest.
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State Street trading arm names operating head
GLOBAL – State Street Global Markets, the investment research and trading arm of State Street Corp., has hired former Credit Suisse First Boston executive Robert Sisti as global head of operations.
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German pension fund tenders E60m via IPE-Quest
GERMANY- A German investment consultant has tendered a 60 million-euro segregated advisory mandate on behalf of a German pension fund via IPE-Quest.
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French SRI reaches E4.5bn - Novethic
FRANCE - The size of socially responsible investments in France reached 4.5 billion euros at the end of March from 4.4 billion euros at the end of December, reveals a report by Novethic, a subsidiary of CDC-IXIS.
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AP2 backs more transparent EU hedge rules
SWEDEN – The head of fixed income and alternative investments at the 140.4 billion-crown (15.3 billion-euro) Andra AP-fonden has welcomed moves to a more transparent hedge fund framework.
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CSFB pensions co-head Keating joins private bank
UK/SWITZERLAND – Giles Keating, co-head of Credit Suisse First Boston’s pensions advisory and structuring group, is to transfer to Credit Suisse Private Banking.
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ING adopts “more active” voting policy
GLOBAL – ING Group, whose asset management businesses run about 162 billion euros of equity assets, says it will adopt a “more active” role as an institutional investor.
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E.ON seeks
GERMANY - German energy firm E.ON is targeting an equity allocation of up to 65% for its 4.9 billion euros of pension arrangements in 2004 as it seeks "real-time coverage" for its obligations.
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M&G hit by loss of bond brief
UK - M&G had a net outflow of 879 million-pounds (1.3 billion euros) in its institutional business in the first quarter of 2004 - hit by a client withdrawing a segregated fixed income brief.
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UK pension funds raise cash holdings – Lipper
UK – Pension funds in the UK raised their exposure to cash investments in March, according to fund research firm Lipper.
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PGGM sees problems with new reference framework
NETHERLANDS - Dutch health care and social workers’ pension fund PGGM has said there are problems within the agreed one-year recovery decided in the new financial reference framework, Financieel Toetsingskader.
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Salamin leaves Swiss social security fund AVS
SWITZERLAND - Dominique Salamin has left Switzerland’s 25 billion-Swiss franc (16.7 billion-euro) social security fund Assurance Vieillesse et Survivants, or AVS.
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HSBC Actuaries wins National Counties brief
UK - HSBC Actuaries and Consultants Ltd., says it has been appointed as investment consultants to the National Counties Building Society Pension and Life Assurance Scheme - initially to review investment strategy.
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Fund managers look beyond pension woe – Merrill
GLOBAL - More fund managers want corporate profits to go towards paying higher dividends than to topping up company pension schemes and repaying debts, according to David Bowers, Merrill Lynch’s chief global strategist.
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Consultant tenders E150m via IPE-Quest
EUROPE – A Zurich-based investment consultant has tendered an active global mid- and small-cap equities brief worth 150 euros via IPE-Quest.
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MSCI to buy risk software firm Barra for E675m
GLOBAL - Morgan Stanley is to buy risk management analytics firm Barra for 816.4 million dollars (675.3 million euros) in cash and integrate it with its majority-owned MSCI index business.
