Markets – Page 260
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Swiss fund seeks managers for two $20m mandates
SWITZERLAND: Two $20 million mandates for Index-Enhanced Global Debt and Active Swiss Equities have been announced by Zurich-based investment consultant Felix Kottmann of Kottmann Advisory for a Swiss pension fund client.
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Oslo picks PIMCO for new $220m fixed income fund
NORWAY- Oslo Pensjons Forsikring has appointed PIMCO Europe to set up and manage a $220m global fixed-income portfolio for the city's 20,000 employee pension fund.
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Hermes invests in new Osprey property fund
UK – Hermes Property Asset Management and Bank of Scotland Corporate Banking are among the investors in the newly-established Osprey Limited Partnership, a high-yielding, commercial property fund with a target size of £300m (€485m). The fund starts life with an initial investment of £12m but the amount invested by Hermes ...
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Essex fund seeks managers for e1.5bn
UK – The Essex County Council pension fund is looking for managers for £945m (€1,530m) of its £1.8bn assets, including a passive multi-asset equity and bond mandate worth some £620m and a predominantly UK fixed income mandate worth £140m.
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Yorkshire hands e900m to Schroders and Western
UK – The £865m (€1,407m) Yorkshire Electricity Group pension scheme has carried out a strategic asset allocation review that has led to the appointment of Schroders and Western Asset Management to run two new £280m (€455m) sterling fixed income mandates.
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JP Morgan's Lowrie joins Newton IM
UK – London-based Newton Investment Management has appointed Audrey Lowrie as a fund manager with responsibility for UK institutional equities and global multi-asset portfolios.
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Investec adds to London-based institutional team
UK - Investec Asset Management has won three new mandates worth £218m (€355m) and announced two new senior appointments to its London-based institutional marketing team.
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Edinburgh fills CIO spot with MLIM's Richards
UK- Edinburgh fund Managers has finally filled its vacant post of chief investment officer with the appointment of Anne Richards from Merrill Lynch Investment Managers (MLIM).
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Italy's Laborfonds completes manager selection
ITALY - Laborfonds, the €100m complimentary pension fund for workers in Northern Italy, has appointed New York-based Alliance Capital to run its €10m US equity and fixed income portfolio.
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Stamford opens multi manager to UK market
GUERNSEY/UK- Stamford Asset Management is opening up its Guernsey-based collective investment scheme, the multi-manager investment programme (MMIP), to the UK institutional market.
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NTMA announces seven managers for final e2bn
IRELAND- Ireland’s National Treasury Management Agency (NTMA) has announced the final seven managers to run the unallocated e2bn of the National Pensions Reserve Fund’s e8bn in assets.
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ALM study could open up PMI's investment strategy
NETHERLANDS – The giant €12.5bn Dutch metal workers fund, PMI, is undertaking an asset liability study that could open up its investment strategy to include alternatives such as commodities, currency overlay, below investment grade bonds and inflation-linked contracts.
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Rothschild launches UK corporate bond fund
UK – London-based Rothschild Asset Management has launched a new UK corporate bond fund as part of its institutional pooled fund range. The new fund will have an initial value of £37.5m (€61.2m) and is part of its Five Arrows open-ended investment company (OEIC) fund range.
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UK budget is bad news for property investors
UK – Changes to stamp duty on commercial property announced in chancellor Gordon Brown’s budget will lead to growth in the property unit trust market according to Tim Bell, director of property at F&C Management in London.
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CDC IXIS loses head of European equities to Fortis
FRANCE – French investment management group, CDC IXIS Asset Management in Paris has lost its head of European equities, Gilles Meshaka, as well as three members of his team, Sadri Tamarat, Laurent Jacquier-Laforge and Pierre-Alain Labat. All four are reportedly moving to rival asset manager, Fortis Investment Management, as part ...
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Equity outlook deteriorates says Merrill Lynch
GLOBAL- The outlook for world equities has deteriorated in the past month, according to Merrill Lynch’s latest fund manager survey. In the report, which surveys 300 fund managers, institutional investors are quoted as saying equites appear overpriced and that the prospects for interest rates have deteriorated.
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Boots buys £200m of inflation-linked assets
UK- Boots’ £2.4bn pension fund has purchased £200m worth of inflation-linked investments in a bid to improve the match between assets and liabilities. The purchase follows the fund’s decision last October to sell its entire equity holdings and move the proceeds into fixed income. At the time critics said the ...
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Citibank joins FX Connect and FXall
GLOBAL- Citibank has joined FX Connect, State Street’s multi-bank electronic foreign exchange trading system, and the electronic platform FXall following the collapse of the rival system Atriax last week.
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FIS beefs up US equities team
UK – Friends, Ivory & Sime (FIS) have appointed Tim Sharman and Robin Wrench to their US equities team.
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Martin Currie poaches SG head of European equities
UK- SG Asset Management’s head of European equities Dino Fuschillo is leaving to join Edinburgh-based Martin Currie as a director. In the new role he is responsible for European products and will report to chief investment officer James Fairweather. Prior to his four years at SG Asset Management he spent ...
