Markets – Page 247
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Northern Trust hires Martin Currie’s Sagraves
UK – Northern Trust Global Investments has hired Barry Sagraves from Martin Currie to head its European investment business.
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SWIP hires ex-RSA global funds head
UK - Scottish Widows Investment Partnership has hired former Royal & Sun Alliance global funds head Tim Scholefield as head of international research and global sectors.
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S&P names European investment services head
EUROPE – Ratings agency Standard & Poor’s has appointed Geoff Hawksworth to head up its European Investment Services business.
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Schroders in European property push
EUROPE – Schroders Property Investment Management is making a push into Europe, joining two European property associations, and adding one member to its team.
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Allianz’s PIMCO launches eight funds for Europe
EUROPE – PIMCO has launched eight new specialist pooled fixed income funds aimed at institutional investors across Europe.
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Stoxx slams new FTSE
SWITZERLAND – The head of index provider Dow Jones Stoxx says the new FTSE-Euronext pan-European index series is a “copy” of the DJ Stoxx 50 – and that many institutions won’t shift index providers in the current market.
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Irish reserve fund to move into new asset classes
IRELAND - The commissioners responsible for the investment strategy of Ireland’s eight billion euro National Reserve Pension Fund have decided about exposure to additional asset classes apart from equities and bonds.
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ABN Amro asset management profit falls 26%
NETHERLANDS – Net profit at ABN Amro’s asset management division declined by 26.3% to 14 million euros in the first quarter.
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Pension funds targeted with new SLAM fund
UK – Swiss Life Asset Management UK is targeting pension funds wishing to gain global exposure to equity markets outside the UK with the launch of a new fund.
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French asset managers increase SRI capability
FRANCE – French investment firms are rapidly expanding their socially responsible investment management capabilities, reveals a study by SRI information provider Novethic and consultant Amadeis
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Aegon sees benefit from demographic change
NETHERLANDS – Insurance and pensions provider Aegon says that the ageing population continues to “bode well” for its earnings for a long time to come.
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UK’s BoS restructures e1.73bn pension fund
UK – Edinburgh Fund Managers and Baring Asset Management have lost their mandates for the Bank of Scotland’s 1.2 billion pound (1.73 billion euro) pension scheme as a result of a complete restructuring of the fund.
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ETF trading volumes rise 34%
GLOBAL – The average daily trading volume of exchange-traded funds rose 34% in the first quarter, though assets under management in Europe were flat.
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BGI the leading manager of S&P indexed assets
US - As at the end of 2002, Barclays Global Investors was the leading manager of S&P indexed assets, Standard & Poor’s says.
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Research shows European allocation to private equity ‘too low’
UK - Research showing that asset allocation to private equity of nearly 20% for a pension portfolio that 50% invested in equities is an ‘efficient’ figure has been issued by Standard Life Investments (SLI).
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Top staff leave as e628m Dutch fund closes
NETHERLANDS – Senior staff at Rijswijk-based building group HBG’s pension fund will next month leave for new jobs in the Dutch pensions industry.
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Hackney appoints specialists for e509m scheme
UK – The London Borough of Hackney pension fund has announced the appointment of a series of specialist managers for its 350 million pound (509 million euro) scheme.
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UK managed assets total e2.8trn - IMA
UK – Assets managed in the UK as of end of June 2002 were 1.93 trillion pounds (2.8 trillion euros) according to the latest fund manager survey by the Investment Management Association.
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Northern Trust asset arm wins French mandate
FRANCE/LUXEMBOURG – Northern Trust’s asset management arm, Northern Trust Global Investments, has won its first mandate in the French market.
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Borsa Italiana, S&P to launch Italian index
ITALY – The Borsa Italiana and Standard and Poor’s are joining together to launch an index that will become the main indicator for the Italian equities market.
