Markets – Page 254
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Solutia appoints Frank Russell to run entire fund
UK - The Trustees of the Solutia UK pension scheme have appointed Frank Russell Company as the sole investment manager for its £35m( e55.4m) pension scheme. The global equity and fixed income assets will be spread across Russell’s full range of multi-manager funds.
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Northern Trust adds to multi manager line up
UK- Northern Trust’s multi-manager business has appointed Raphael Robelin of Invesco, and Jonathan Platt of Royal London Asset Management as managers for its UK multi-manager fixed interest fund.
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European cross border property business flourishes
EUROPE- Europe is the preferred location of global cross-border investment activity in real estate, according to international property adviser DTZ, which predicts continued growth in the sector over the next five years.
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Royal Liver appoints BGI for e218m active mandate
UK- Royal Liver Assurance has appointed Barclays Global Investors to manage a new £137m (e218m) active UK equity mandate. BGI was selected following a beauty parade in conjunction with Royal Liver’s external advisers, whereby three asset managers were shortlisted.
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Proposed tax changes threaten Germany's pensions
GERMANY- Proposals by Germany’s coalition government that individuals are to pay capital gains tax on profits from share sales is causing concern for the fund industry, and threatening the new third pillar pensions system.
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ING and BoNY enter European alliance
EUROPE- ING and the Bank of New York are to create a European commercial alliance focusing on sales, marketing and servicing of global custody and related services. The alliance will see the two entities jointly offering services to institutional clients in Germany, the Benelux and Central and Eastern Europe over ...
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Managers more optimistic about equity prospects
GLOBAL- Fund managers are more optimistic about the prospects for the world equity markets than they have been for a year according to the latest Merrill Lynch fund manager survey.
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Capital secures e158m UK council mandate
UK- Shetland Islands County Council has awarded the mandate for its £100m (e158m) pension fund to Capital International. UBS Global Asset Management, formerly Phillips & Drew, had been running the portfolio for five years, but lost the beauty parade when the five-year mandate period was over.
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Putnam to take over e2.8bn of BT FM's assets
AUSTRALIA/US- BT Funds Management, the Australian global investment manager, will see US-based Putnam Investments take over management of A$5bn (e2.79bn) of its international equity assets when the Westpac acquisition of the majority of the BT Financial Group closes at the end of October.
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Schroders adds to fixed income development team
UK- Schroder Investment Management has appointed Jeremy Cave as head of fixed income business development in continental Europe and the Middle East.
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French industry see assets rise 20% in 2001
FRANCE-French asset management companies saw their operating profits fall 20.4% in 2001 in spite of an increase in assets under management, reports the Commission des operations de bourse (COB), the regulatory agency appointed by the government to oversee the protections of investors.
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BH&S to launch high-yield property income fund
UK – Property asset manager Baring Houston & Saunders (BH&S) hopes to raise £250m (e396m ) to £300m for its new high-yield property income fund.
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UBS makes equity research analyst appointment
UK – UBS Global Asset Management (UBS Global AM) continued to strengthen its UK team with the appointment of Guy Walker as senior analyst for Pan European equity research.
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Russian pension reform opportunity for managers
RUSSIA - Pension system reforms in Russia and the CIS could open doors to those countries for foreign fund managers.
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Asset-backed investments find favour in Europe
EUROPE - Almost e92bn of new asset-backed debt has been sold into Europe so far this year, according to Deutsche Bank, indicating that the market sector is becoming increasingly popular among investors.
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SSGA names new credit portfolio manager
UK - State Street Global Advisors (SSGA) has appointed Mahmoud El-Shaer as credit portfolio manager
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WestAM boosts emerging markets team
UK - WestAM, asset management arm of Westdeutsche Landesbank, is bolstering its global emerging markets team in London with the addition of Richard Fairgreave, Jose Morales and Brian Deacon.
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IPE announces 2002 pension fund awards winners
EUROPE- IPE Magazine has announced the winners of its 2002 pension fund awards for both “investment strategy” and “fund structure and administration”. Entrants were judged by selected panels of experts selected country by country.
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TIAA-CREF and CalPERS to challenge executive pay
US- Two of the world's largest pension funds, TIAA-CREF and CalPERS, are planning to target companies that offer over-generous pay schemes, and to request changes from their boards.
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German institutions slash equity holdings to 19%
GERMANY- German institutions have decreased their asset allocation to European stocks from an aggregate 27% to 19% over the last two years, according to a survey by US-based consultants, Greenwich Associates.