Financial Times Mandate articles from October 2002

Financial Times Mandate archives from October 2002

News: Passive players prosper.(how best to mix index-tracking and active funds)(Brief Article)
October 7, 2002... The passive versus active management debate is dead. Now investors are asking how best to mix index-tracking and active funds as part of a core-satellite asset allocation model, contends Kanesh Lakhani, marketing director of State Street Global...

News: Oregon trail leads to $175m active briefs.(Oregon's state retirement system hires managers)(Brief Article)
October 7, 2002... Oregon's state retirement system has awarded $350m in international equity mandates. Putnam Investments and Arrowstreet Capital have received $175m each from the $33bn Oregon Public Employees Retirement Fund in a move to return to the...

News: New KBC quant fund is first for Belgium.(KBC Asset Management's quantitative global equity fund)(Brief Article)
October 7, 2002... Brussels-based KBC Asset Management is launching a new quantitative global equity fund this month. Benchmarked against the MSCI World Index, the fund will rely solely on a computer model to pick stocks. It will be the first...

News: Skandia jilts Janus due to below-par performance.(American Skandia; Janus Capital Management)(Brief Article)(Statistical Data Included)
October 7, 2002... American Skandia has dropped Janus Capital Management in favour of Goldman Sachs Asset Management (GSAM) for nearly $2bn in large and mid-cap mandates. GSAM will run four large-cap concentrated growth and mid-cap growth domestic equity...

Editorial: Survival of the nimble as mandates dwindle.(Brief Article)(Editorial)(Statistical Data Included)
October 7, 2002... Asset managers eyeing Europe in the expectation of plenty, be warned. While European institutional investors are hiring more external managers, they are handing out less money to manage. This is the latest sobering finding from US-based...

News: In brief - Fund of funds advice for non-US companies.(new service)(Brief Article)
October 7, 2002... Standard & Poor's, the US financial information company, and UK fund manager, Schroders, are offering non-US banks and institutions a fund of funds advisory service. The market for fund of funds is expected to nearly treble over the next...

News: In brief - MSCI global indices get methodological tune-up.(Morgan Stanley Capital International )(Brief Article)
October 7, 2002... Morgan Stanley Capital International (MSCI), the provider of international securities' indices, has announced changes to its methodology for calculating its Global Value and Global Index Series. The new methodology will be built on a...

News: In brief - Mellon wins brief for $18bn Arizona State.(Mellon Global Securities Services; Arizona State Retirement System)(Brief Article)
October 7, 2002... Mellon Global Securities Services (GSS) has won a mandate to provide custody, securities lending, benefit disbursement and depository services to the $18bn Arizona State Retirement System. Russell/Mellon Analytical Services will supply...

News: In brief - Deutsche sells passive business to Northern.(Deutsche Bank; Northern Trust Corp.)(Brief Article)
October 7, 2002... Northern Trust Corporation has signed an agreement to buy Deutsche Bank's global passive equity business. The deal will be finished in about six months and will cost Northern Trust approximately $260m for $120bn of managed assets, as calculated...

News: In brief - French state fund on lookout for managers.(Association des Regimes de Retraite Comlementaires )(Brief Article)
October 7, 2002... The French state pension fund for blue-collar workers, holding funds of E25bn, is looking for two passive asset managers to each manage euro-zone balanced mandates of E150m. The Association des Regimes de Retraite Comlementaires (Arrco) is...

News: In brief - EC plans to harmonise trading of shares.(Brief Article)(Statistical Data Included)
October 7, 2002... The European Commission is proposing to scrap rules forcing investors to buy and sell shares through stock exchanges. The full proposals are to be released in November but are expected to harmonise the diverse trading rules in the 15 nations of...

News: In brief - Merged database offers info to asset managers.(Russell/Mellon CAPS Asset Management Information)(Brief Article)
October 7, 2002... Russell/Mellon CAPS and managerselection.com are merging their respective database services into the Russell/Mellon CAPS Asset Management Information (AMI) service. AMI provides information on asset managers in the UK and Continental...

News: CalPERS turns Japanese.(California Public Employees Retirement System)(Brief Article)
October 7, 2002... The California Public Employees Retirement System (CalPERS) is to invest $200m in a fund that aims to turn around underperforming Japanese companies. CalPERs and California-based Relational Investors will make joint investments in firms...

News: Managers brace for Ontario fund review.(Ontario Public Service Employees Union (OPSEU) Pension Trust's asset-liability study)(Brief Article)
October 7, 2002... Mandate managers for one of Ontario's largest pension funds should be preparing themselves for changes. Ontario Public Service Employees Union (OPSEU) Pension Trust is conducting an asset-liability study that is likely to see some fund managers...

News: Cardiff opts for Schroders over Invesco.(Cardiff Council's pension fund gets new manager)(Brief Article)
October 7, 2002... Schroders has replaced Invesco as Cardiff Council's manager of an Asian equity mandate. The council merged its Japanese and Asian portfolios, worth a total of GBP60m and changed the measuring benchmarks. "We've become less comfortable with...

News: Merrill Lynch loses oe400m equity brief in BAA overhaul.(British Airports Authority pension fund management)(Brief Article)
October 7, 2002... Merrill Lynch Investment Managers (MLIM) has lost a GBP400m UK equity mandate as a result of a restructure of the British Airports Authority (BAA) pension fund. Fidelity has swapped an equity mandate for a fixed income brief and UBS and Capital...

Comment and Analysis: When the cupboard is bare, no software.(Brief Article)(Editorial)
October 7, 2002... Just when software companies felt they had convinced fund managers that investing in straight-through processing (STP) would save them millions, along came a market slowdown which pushed IT to the bottom of the priority list. True, the...

News: AMP share price plunge prompts Batchelor to quit.(CEO Paul Batchelor)(Brief Article)(Statistical Data Included)
October 7, 2002... Andrew Mohl, a funds management specialist at AMP, has been appointed acting chief executive of the group following the shock resignation of Paul Batchelor in the wake of a share price plunge, reports Tim Blue from Sydney. Shares in AMP...

News: Misys buys Eagleye for oe15m.(UK maker of compliance software for the asset management industry)(Brief Article)
October 7, 2002... Eagleye Solutions, which develops real-time compliance software for the asset management industry, has been acquired by Misys, a global provider of financial software. Misys picked up the two-year old Eagleye for GBP15m (e23.9), a sum that will...

News: GE Life management shift shores up oe850m for SSgA.(Brief Article)
October 7, 2002... GE Life has launched a "root and branch" review of its external fund managers. The pensions company, formerly National Mutual, outsourced its equity management in 1998, and the review will look at the managers' performance over the past...

News: BNP exits Australian fund market.(BNP Paribas)(Brief Article)
October 7, 2002... BNP Paribas is pulling out of the Australian asset management business, after selling its local funds management division to Queensland-based WHTM Asset Management, reports Tim Blue from Sydney. BNP's exit is part of a global restructure...

News: In brief - Pictet proves commitment to ethical investing.(Sustainable Equities Europe Fund)(Brief Article)(Product Announcement)
October 7, 2002... Geneva-based asset manager, Pictet, has launched a new socially responsible investment (SRI) fund, the Sustainable Equities Europe Fund. Registered in Luxembourg, the fund will invest in around 80 publicly-quoted companies deemed capable of...

News: In brief - Alignment to examine $480 Kansas portfolio.(Alignment Capital Group; Kansas Public Employees Retirement System)(Brief Article)
October 7, 2002... Alignment Capital Group has won a mandate to evaluate the $480m alternative investment portfolio of the $9.3bn Kansas Public Employees Retirement System. Under the pension's rules, the portfolio must be independently analysed every five...

News: In brief - BNY Securities Group ends five-years plan.(Bank of New York launches institutional investment management subsidiary)(Brief Article)
October 7, 2002... The Bank of New York (BNY) has announced the establishment of BNY Securities Group to cater for institutional agency brokerage and correspondent clearing business. The bank has been making acquisitions and developing services for the past...

News: In brief - Louisiana tenders $60m.(Louisiana Firefighters' Retirement System)(Brief Article)
October 7, 2002... A new mandate for running a $60m active domestic small-to-mid cap equity fund for the $650m Louisiana Firefighters' Retirement System is to be announced. The contract is up for grabs because the pension board terminated a mandate for an active...

Custody, Settlement and Technology News: HSBC wards off competition for council mandates.(HSBC Global Investor Services)(Brief Article)
October 7, 2002... HSBC Global Investor Services (GIS) has retained two UK local authority mandates worth a combined GBP1.5bn (e2.4) from the West Yorkshire Pension Fund and pension managers at the Royal Borough of Kensington and Chelsea. "One should never...

Custody, Settlement and Technology News: OM online solution attracts UBS.(Brief Article)
October 7, 2002... UBS Global Asset Management has signed up OM to provide new technology to automate corporate actions. "It's the last bastion of paper dealing," said Guy Everett, OM's vice- president of sales and marketing, Europe, Middle East and Africa...

Custody, Settlement and Technology News: SocGen attributes new business to AA rating.(Societe Generale)(Brief Article)
October 7, 2002... Paris-based Societe Generale (SocGen) has had its global custody rating boosted from AA- to AA by Fitch-AMR, a subsidiary of rating agency Fitch. The first such rating of a custodian by Fitch, awarded only a year ago, was hailed by SocGen as a...

Custody, Settlement and Technology News: Clearstream to service bund market.(Brief Article)
October 7, 2002... European clearing house Clear-stream has clinched a deal with the German Finance Agency to provide its securities lending service to the German government bond market. Clearstream will supply liquidity through its Automated Securities...

Custody, Settlement and Technology News: In brief - BNP to provide clearing and custody of UK securities.(BNP Paribas Securities Services)(Brief Article)
October 7, 2002... BNP Paribas Securities Services has started offering clearing and custody of UK securities as part of its Multi-Direct Clearing and Custody (MDCC) business. The London-based UK MDCC team will offer local market expertise in line with the...

Custody, Settlement and Technology News: In brief - CrestCo/Euroclear merger paves the way for integration.(Euroclear Bank)(Brief Article)
October 7, 2002... The merger of CrestCo and Euroclear has been completed following a UK High Court hearing that sanctioned the deal. Pierre Francotte, CEO of Euroclear Bank, said that plans for integration were already underway and the new entity was still on...

Custody, Settlement and Technology News: In brief - BoNY's 'reporting capabilities' prove mutually beneficial.(Bank of New York, Managers Funds L.P.)(Brief Article)
October 7, 2002... The Bank of New York (BoNY) has won a mandate to provide global custody, fund accounting and securities lending services for $3bn of assets in 21 mutual funds run by the Managers Funds. The no-load mutual funds, which comprise a range of US...

Custody, Settlement and Technology News: In brief - City of New York puts two-year mandate out to tender.(Office of Labour Relations seeks consultant for Deferred Compensation Programme)(Brief Article)
October 7, 2002... The City of New York Office of Labour Relations has issued a request for proposals for the provision of fund performance analysis, compliance and consulting services to the City of New York Deferred Compensation Programme. The mandate will run...

Profile: GE Life - GE Life inspectors come calling.(JPMorgan Fleming, Goldman Sachs Asset Management and Schroders PLC mandates reviewed)(Brief Article)
October 7, 2002... JPMorgan Fleming, Goldman Sachs Asset Management and Schroders can expect their mandates with GE Life to be picked through with a fine toothcomb over the next couple of months. The pensions company has just initiated its first three-yearly...

People News: Citibank attracts BNY's Samuel Lau.(Citibank Global Securities appoints Samuel Lau)(Brief Article)
October 7, 2002... Asian brokers, custodians and exchanges will soon be doing business with Samuel Lau. Citibank Global Securities has appointed him vice-president, regional sales and account manager for intermediaries meaning he has taken on the responsibilities...

People News: Buenrostro replaces Burton at CalPERS.(California Public Employees' Retirement System appoints Fred Buenrostro)(Brief Article)
October 7, 2002... California Public Employees' Retirement System (CalPERS), the largest public pension fund in the US, has announced that Californian state employee, Fred Buenrostro, has been appointed as chief executive officer. Mr Buenrostro, currently a...

People News: Credit Lyonnais hires fixed income head.(Credit Lyonnais Asset Management appoints Jean-Francois Boulier)(Brief Article)
October 7, 2002... Credit Lyonnais Asset Management has appointed Jean-Francois Boulier as its new head of fixed income and deputy chief investment officer. Mr Boulier joins the company amid rumours that the asset management arm might soon be up for sale. ...

People News: Roe to run enhanced index funds at SSgA.(State Street Global Advisors appoint Simon Roe)(Brief Article)
October 7, 2002... Growth in demand for enhanced indexation funds has seen State Street Global Advisors (SSgA) appoint Simon Roe as senior investment manager in the enhanced equity group. Poached from Merrill Lynch Investment Managers where he was a...

People News: Gartmore beefs up hedge fund team.(appointments of Stephen Attenborough and John Gallagher)(Brief Article)
October 7, 2002... Stephen Attenborough is on the move within Gartmore. As part of its increasing interest in hedge fund business, Mr Attenborough has been appointed as head of European institutional sales - fund of hedge funds. He is expected to work closely...

People News: Williams joins Fortis fixed income fold.(Fortis Investment Management appoints Guy Williams)(Brief Article)
October 7, 2002... Guy Williams has been appointed as head of the global fixed income investment centre at Fortis Investment Management. The investment centre is expected to manage funds and mandates against global fixed income benchmarks. Mr Williams is...

People News: Franklin appoints marketing director.(Franklin/Templeton Investor Services Inc. appoints Elzbieta Banz)(Brief Article)
October 7, 2002... Elzbieta Banz is moving from Fidelity Investments to Franklin Templeton's Swiss operation. Ms Banz has been appointed as marketing director for Franklin Templeton Investments (FTI) in Geneva, where the company is thought to be the country's...

Portfolio: Asset Allocation - Europe - PMI opts for currency hedging strategy.(Goldman Sachs and Co. to manageDutch metalworkers pension fund)(Brief Article)
October 7, 2002... Despite its fancy name, a global currency hedging strategy is usually straightforward to run. The approach, a tool used to protect against the risks posed by worldwide currency fluctuations, often uses a benchmark in the shape of a...

Portfolio: Asset Allocation - Americas - Barclays cuts risk using derivatives.(Barclays Global Investors manages Texas Instruments investments)(Brief Article)
October 7, 2002... Barclays Global Investors (BGI) is the world's sixth largest defined contribution (DC) manager with more than $108bn under management. In part it has reached this position by providing enhanced risk-controlled investments, a pre-requisite for...

Portfolio: Asset Allocation - Asia-Pacific - Mellon trumpets value of diversification.(Standish Mellon Asset Management)(Australian industry super fund, the Local Government and Energy Super Scheme)(Brief Article)
October 7, 2002... Diversification is one of the only free lunches of investment management, as superannuation fund trustees like to point out. Many heartily embraced the credo with a push into overseas shares, and despite the results of the past two years, it is...

Portfolio: Market Analysis - View from Europe - Deflation fears raise interest in monopolistic stocks.(Brief Article)(Industry Overview)
October 7, 2002... Europe's economy continues to weaken, the result in part of its linkage to the slowing US economy. It is anticipated that the US and Europe will experience mild economic recovery in 2003, with Europe's rebound lagging that of America's by...

Portfolio: Market Analysis - View from the Americas - Investors flock to simple, old economy favourites.(Brief Article)(Industry Overview)
October 7, 2002... This year has been difficult for the US investment grade corporate bond market, which trailed Treasuries by 3.50 per cent through September 13. The confluence of bubble-related excesses and corporate accounting scandals produced several...

Portfolio: Market Analysis - View from Asia-Pacific - Region a decent bet compared with the Middle East.(Brief Article)(Industry Overview)
October 7, 2002... This year has turned out relatively well for Asian equity investors. Not as well as it would have turned out had the same money been invested in bonds or kept under the bed, but the Asian markets have held up better than most. Over the...

Mandate Research: Asset manager rankings - Overall results - US mandates ensure passive specialists remain top dog.(Brief Article)
October 7, 2002... FT Mandate's league table ranks the top institutional asset managers by new business wins from January to June of this year. A second overall table ranks asset managers by total volume of new business won over a 12-month period to end-June. ...

Mandate Research: Asset manager rankings - Overall results - BARCLAYS GLOBAL INVESTORS.(Brief Article)
October 7, 2002... Barclays Global Investors (BGI) has carved out a strong reputation in the institutional market as a passive asset management house, but is keen to stress its credentials on the active side as well. This effort appears to be paying dividends as...

Mandate Research: Asset manager rankings - Equity - STATE STREET GLOBAL ADVISORS.(Brief Article)
October 7, 2002... Even though State Street Global Advisors (SSgA) is one of the leading passive fund managers in the world, it has attributed its success in topping the table for equity mandate wins of e25bn in the first six months of the year to a growing...

Mandate Research: Asset manager rankings - Equity - F&C MANAGEMENT.(Brief Article)
October 7, 2002... F&C Management, which runs E100bn in total group assets, claimed sixth place in FT Mandate's ranking of winners over a 12-month period to June 30, thanks to securing 12 specialist mandates worth a total of E7bn from PMI, the Dutch metal workers...

Mandate Research: Asset manager rankings - Fixed income - GOLDMAN SACHS ASSET MANAGEMENT.(Brief Article)
October 7, 2002... Goldman Sachs Asset Management (GSAM) secured second place in the first-half year fixed income table, due entirely to landing an e883m active UK fixed income brief from the Unilever Pension Fund. The new brief helped bring GSAM's total...

Mandate Research: Asset manager rankings - Fixed income - HENDERSON GLOBAL INVESTORS.(Brief Article)
October 7, 2002... Henderson Global Investors topped the first six months' fixed income league table with e967m worth of new business gained, according to figures reported to FT Mandate. The two principal new tickets were a e610m active global fixed income...

Mandate Research: Asset manager rankings - Balanced and alternative mandates - TOWNSEND GROUP.(Brief Article)
October 7, 2002... The Cleveland, Ohio-based Townsend Group added E5bn to its vast real estate advisement portfolio during the first six months of 2002 to top the alternative investment specialist table of new business won. The reported increase came...

Mandate Research: Asset manager rankings - Balanced and alternative mandates - ABN AMRO ASSET MANAGEMENT.(Brief Article)
October 7, 2002... The tumbling stock markets of the past three years have not been kind to asset management groups, least of all fund management companies that have a growth style. However, this has not prevented the Dutch fund manager ABN Amro Asset Management,...

Mandate Research: Portfolio trading - Transaction costs - Industrial evolution.(Brief Article)
October 7, 2002... Speed is everything. That is what a first-blush look at the brokerage industry reveals in a comparison of execution services, as trading operations leverage their individual strengths to maintain and gain market share in an environment...

Pru eyes German arena with Oppenheim stake.
October 7, 2002... Prudential Financial has launched a joint venture with German private bank, Sal. Oppenheim to sell mutual funds to German retail investors. "We're operating on a business-to-business model - providing mutual funds to the German domestic...

AIG rescues Sacramento firemen.(AIG Valic)(Brief Article)
October 7, 2002... US retirement specialist, AIG Valic, has snatched a $40m mandate to manage the Sacramento Metropolitan Fire Department's 457 pension plan. Beating off competition from ICMA retirement, Nationwide Retirement Solutions and Hartford Life, AIG...

Passives move up UK pension fund rankings.(passive managers)(United Kingdom)(Brief Article)
October 7, 2002... Passive managers dominate a ranking table of the top 10 UK pension fund managers compiled by consultant's Hymans Robertson. The league is led by Legal & General, followed by Barclays Global Investors, Merrill Lynch Investment Managers and...

West is unlikely to get paws on China's booty.(Brief Article)(Industry Overview)
October 7, 2002... A report by research consultants, Cerulli, says the Chinese fund management industry could be worth $350bn in 30 years. But it is unlikely foreign asset management houses will see much of the business. The conclusion came just as China's...

Third-party animals: New journo driven to drink.(FT Mandate's Djuro Rnic)(Brief Article)
October 7, 2002... FT Mandate's newest recruit, Djuro Rnic, has been out and about on the PR circuit plugging the good name of FT Mandate. He was first spotted at the State Street Global Advisors wine tasting evening where he dazzled his hosts with his knowledge...

Third-party animals: Show business as usual, boo.(Clearstream)(Brief Article)
October 7, 2002... At Clearstream's recent conference on securities financing the firm's own employees were heard bemoaning the standard of evening entertainment at last year's event. One member of Clearstream's repo desk remarked, "the food was fantastic, but...

Third-party animals: Meagre munchies in Munchen.(Pensmart conference food)(Brief Article)
October 7, 2002... Delegates and journalists attending international asset management conferences are usually treated to a "gala" evening event which comprises a taste of the local culture and cuisine. Not so participants at the recent PensMart conference in...

Conferences.
October 7, 2002... - Japanese Pensions Summit, Tokyo, Japan, October 15-16 Contact: Information Management Network +1 212 768 2800 ext. 1 - European Fixed Income Summit, Amsterdam, The Netherlands, October 24-25 Contact: Information Management...

News: RBC and Perpetual in A$2m Asia deal.(RBCGlobalServices,PerpetualTrustees Australia Ltd.)(Brief Article)
October 21, 2002... RBC Global Services, a unit of Royal Bank of Canada, has won the global securities lending business of Austra-lian fund manager Perpetual Trustees, in a deal worth up to A$2m (e1.1m) a year, as part of a widening push into Asian-based business,...

News: Mississippi switches $200m brief to Artisan.(Artisan Partners)(Brief Article)
October 21, 2002... Mississippi's state retirement system has awarded a $200m (e203m) mid-cap equity brief to Artisan Partners after dropping Morgan Stanley following the departure of the portfolio's manager. The growth fund will be managed by Andrew Ste-phens...

News: BNY and ING unite for European domination.(Bank of New York, ING Investment Management)(Brief Article)
October 21, 2002... ING and The Bank of New York (BNY) are forging a European alliance to exploit the German, Benelux, central and eastern European markets. As part of the deal, ING Investment Management (IIM) is appointing BNY to provide global custody...

Editorial: Could consultants keep out hedge funds?(Morgan Stanley report)(Brief Article)(Editorial)
October 21, 2002... Spare a thought for hapless hedge fund managers who face pressures every which way they turn. Plagued by poor performance forcing the closure of popular long/short equity and event-driven strategies and hit by capacity constraints, tightening...

News: In brief - AP3 move to reduce passive allocation.(Sweden national pension fund)(Brief Article)
October 21, 2002... Sweden's third national pension fund, AP3, is tendering for an active US small/mid-cap equity mandate. The $200m-$400m contract is part of the SKr126bn (E13.9bn) fund's strategy to reduce its passive allocation. "The US small/mid -cap...

News: In brief - Nordic and Pimco strike up relationship.(Mandatum)(Brief Article)
October 21, 2002... Pimco has struck up a partnership with Nordic asset manager, Mandatum, to launch a fixed income fund aimed at institu-tional investors in Finland. The Mandatum US Bond Fund will invest in Pimco's Total Return Fund, a US core plus bond...

News: In brief - CalPERS opts for long-term equity model.(California Public Employees Retirement System)(Brief Article)
October 21, 2002... The California Public Employees Retirement System (CalPERS) has voted to adopt a new asset allocation model that sticks with equity investments long term. CalPERS will raise its target asset allocation for real estate from 8 to 9 per cent...

News: In brief - First Quadrant to be sub-advisor for IG.(Investors Group Inc.)(Brief Article)
October 21, 2002... First Quadrant has been appointed as sub-advisor on a $1.9bn fund for Investors Group of Canada. First Quadrant has taken the mandate from YMG Capital Management on the Investors Asset Allocation Fund. The fund heavily relies on...

News: In brief - Goldman Sachs fund boosted by Europeans.(Brief Article)
October 21, 2002... A substantial contribution from European institutional investors has seen Goldman Sachs Asset Management Private Equity Group close the GS Private Equity Partners 2002 primary fund after raising $1.2bn. The group has expanded its presence...

News: In brief - Canadian use of specialists up to third.(pension fund management)(Brief Article)(Statistical Data Included)
October 21, 2002... Canadian pension funds are using more speciality asset managers, particularly international managers. More than a third hired a speciality manager in the past year, according to a survey of 264 Canadian pension funds by Greenwich Associates....

News: First State to run Nomura A$640m.(First State Investments, Nomura Asset Management)(Brief Article)
October 21, 2002... First State Investments, the Commonwealth Bank of Australia's fund management arm, has won a A$640m (E357m) mandate from Nomura Asset Management to run a money market fund. Under the deal, First State will run the Australian dollar portion...

News: FSR delivers broadside on Nordea performance.(Foundation for Strategic Research, Sweden on Nordea Investment Management)(Brief Article)(Statistical Data Included)
October 21, 2002... Sweden's Foundation for Strategic Research has attacked Nordea Investment Management's performance after dropping the company from its active domestic equity allocation and taking on two new asset managers. The Skr8.6bn (E948m) foundation,...

News: ABN Amro pips competition to Gwent deal.(ABN Amro Mellon financial management contract Greater Gwent (Torfaen) Pension Fund)(Brief Article)
October 21, 2002... The Bank of New York and JP Morgan have lost out to ABN Amro Mellon, which has grabbed a GBP700m custodial mandate from Greater Gwent (Torfaen) Pension fund. "Essentially, we were looking for a global custodian with whom we had a direct...

News: HSBC oe720m portfolio allocation goes to LaSalle.(HSBC Bank Pension Trust (UK) contracts LaSalle Investment Management)(Brief Article)
October 21, 2002... LaSalle Investment Management has been given responsibility for asset allocation of HSBC Bank Pension Trust's (UK) GBP720m real estate portfolio on a discretionary basis. LaSalle has been managing the portfolio for at least 20 years and...

News: BIAM lands Edinburgh mandate.(Bank of Ireland Asset Management (UK) financial management contract City of Edinburgh Council Lothian Pension Fund)(Brief Article)(Statistical Data Included)
October 21, 2002... The City of Edinburgh Council Lothian Pension Fund has appointed Bank of Ireland Asset Management (UK) (BIAM) to manage its new GBP80m global equities mandate. BIAM already manages the fund's GBP66m European mandate. Geik Drever, the...

Comment and Analysis: Writing on the wall for small managers.(pension fund management)(Brief Article)(Statistical Data Included)
October 21, 2002... Recent research by consultancy Watson Wyatt makes grim reading for small and medium-sized fund managers. Watson Wyatt spoke to 42 multinational companies around the world about how they managed their pension funds. Sixty per cent of...

News: Aon sets up specialist strategy portfolio for UK funds.(Aon Asset Management)(Brief Article)(Product Announcement)
October 21, 2002... Aon has launched a new multi-manager funds portfolio aimed at offering specialist asset strategies to small and medium-sized UK pension funds. An Integrated Investment Solutions Service (Aon IIS) will combine investment advice from Aon...

News: Louisiana short-lists managers.(Louisiana's Teachers Retirement System)(Brief Article)(Statistical Data Included)
October 21, 2002... Louisiana's teachers retirement system has short-listed Nomura Asset Management, Seix Investment Advisors and Shenkman Capital Management for $260m in high yield bond mandates after dropping two of its existing junk bond managers. The...

News: AXP splits management of two new mutual funds.(AXP Partners)(Brief Article)
October 21, 2002... The fund management arm of American Express has taken on four asset managers to run two new mutual funds. American Express Financial Advisers has divided the management of the AXP Partners international small- cap fund equally between...

News: Ohio active portfolio launch.(Ohio Public Employees Retirement System)(Brief Article)(Statistical Data Included)(Product Announcement)
October 21, 2002... The $48bn Public Employees Retirement System of Ohio has launched an active internally managed equity portfolio after shutting its forerunner down in 2000. The move follows the appointment of a new manager, Jim Wright, who will preside...