Japan, Asia-Pacific equity managers sought by AP1
STOCKHOLM - AP1 issued an RFP for active Japan and Asia-Pacific equity managers to run a total of €500 million ($536 million), said Nadine Viel Lamare, director of public relations. The search is the first stage of the €14 billion scheme's move into active externally managed equities, Ms. Lamare said. Funding will come from reducing a passive global equity fund run by Barclays Global Investors. Proposals are due May 5. Mercer Investment Consulting will assist.
More searches are expected this year, including searches for managers to run active European and U.S. small-cap equities, she said. Details on those searches have not been finalized.
Murray & Roberts taps Brandes to run international equities
JOHANNESBURG - Murray & Roberts Retirement Fund hired Brandes Investment Partners to manage 100 million rand ($12.5 million) in international value equities, said Toy Otto, principal officer. Funding came from reducing the portfolios of international equity managers SEI Investments and Coronation International, which run 100 million rand each for the 2.5 billion rand plan. Fifth Quadrant advised.
RBC Global Services hired as JBWere global custodian
MELBOURNE - JBWere Investment Management hired RBC Global Services as global custodian for its A$3 billion (US$1.8 billion) in assets under management, said John Harte, head of marketing for JBWere.
RBC Global and Citigroup had split custodial duties; Mr. Harte declined to give further details.
Morley appoints Williams as head of fixed income
LONDON - Ceris Williams was appointed head of fixed income at Morley Fund Management, London. He is head of sovereign bonds and will retain those duties.
Mr. Williams is replacing Peter Rains, who will "pursue other opportunities," a Morley spokeswoman said.