Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Artificial Intelligence
    • Consultants
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Regulation
    • SECURE 2.0
    • Special Reports
    • Washington
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Influential Women in Institutional Investing 2023
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • ESG Investing | Industry Brief
    • Innovation in ESG Investing
    • 2023 ESG Investing Conference
    • ESG Rated ETFs
    • Divestment Database
  • Defined Contribution
    • Latest DC News
    • The Plan Sponsor's Guide to Retirement Income
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • DC Plan Design: Improving Participant Outcomes
    • 2023 Defined Contribution East Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Research Center
    • The P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
Breadcrumb
  1. Home
  2. Print
November 24, 2003 12:00 AM

World Briefs

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    Lewisham on lookout for U.K., int'l managers

    LONDON — London Borough of Lewisham Pension Fund issued RFPs for a manager to run £124 million ($210 million) in active international equities; two firms to each manage £96 million in active U.K. equities; and a manager to handle £83 million in active U.K. bonds, according to European Union filings. Proposals are due Jan. 30; Hymans Robertson is assisting. Rob Whiteman, scheme director of resources, did not return calls by press time seeking details.

    The £527 million scheme's managers are Deutsche Asset Management and Schroder Investment Management, according to the 2002 Pension Funds and Their Advisers.

    Frank Russell units hire Ark for growth portfolios

    TORONTO — Frank Russell Canada hired Ark Asset Management to replace Strong Capital to run a growth portfolio as part of the multimanager Russell U.S. Equity Fund. Strong was terminated primarily because of personnel changes on its growth-product management team, said Tania Hrebicek, spokeswoman. Russell officials were also concerned about market-timing allegations against founder and CEO Richard Strong, she said.

    Strong managed an all-cap growth portfolio worth about 9% of the C$476 million (US$362 million) Russell U.S. Equity Fund; Ark will run a core growth mandate worth about 10% of the fund, Ms. Hrebicek said. Strong officials declined to comment.

    Separately, Russell Investment Group in Australia hired Ark to replace Alliance Capital as a U.S. growth manager in its multimanager Russell International Shares fund, according to a statement from Russell. Ark will run 10% to 15% of the A$2 billion (US$1.4 billion) fund, according to the statement. Craig Morris, Russell spokesman, declined to comment on Alliance's termination. Officials at Alliance Capital Management Australia could not be reached for comment by press time.

    Alberta Teachers retains RBC Global as custodian

    EDMONTON, Alberta — The Alberta Teachers' Retirement Fund rehired RBC Global Services as global custodian, said Emilian Groch, executive director.

    The C$2.5 billion (US$1.9 billion) system conducted a shortlist search as part of a process of determining what products and services the system will need over the next five to 10 years, Mr. Groch said.

    RBC Global has been the system's global custodian for about a decade, he said. Deloitte & Touche assisted.

    HVB Group, Ramius combine hedge-fund-of-funds business

    MUNICH — HVB Group and Ramius Capital Group will combine their hedge fund-of-funds businesses, effective Jan. 1, HVB Group announced. The strategic partnership, with a combined $3 billion in assets under management, will focus on the global institutional market, said Robert Siegfried, Ramius spokesman.

    Thomas W. Strauss, Ramius managing member, will lead an executive management committee comprising senior members of both firms, Mr. Siegfried said.

    HVB Group subsidiary Bank Austria Creditanstalt holds a 24.9% equity position in Ramius Capital.

    Procter & Gamble U.K. fund retains State Street Corp.

    NEWCASTLE, England — Procter & Gamble Technical Centres Ltd. Pension Fund retained State Street Corp. as global custodian for its £450 million ($750 million) in assets, according to a statement by Allison Kirby, chairwoman of the scheme's investment committee.

    State Street has been the scheme's global custodian for three years. Ms. Kirby did not return calls by press time seeking details.

    Hewitt, Bacon & Woodrow advised.

    Canada Pension Plan returns 2.8% for quarter

    OTTAWA — Canada Pension Plan reported an investment return of C$1.8 billion (US$1.3 billion), or 2.8%, for the quarter ended Sept. 30, compared with a gain of C$3.1 billion, or 5.5%, in the previous quarter. The C$64.4 billion plan also reported a return of C$411 million, or 0.9%, on its C$37 billion in fixed income for the quarter ended Sept. 30, and a return of C$1.4 billion, or 5.4%, on its C$27.4 billion in equity and real estate assets during the same period. CPP Investment Board, Toronto, manages the plan's equity and real estate assets.

    Winnipeg Foundation taps RBC as new custodian

    WINNIPEG, Manitoba — The Winnipeg Foundation hired RBC Global Services as global custodian of its C$300 million (US$230 million) in assets, said Richard L. Frost, chief executive officer.

    The foundation had not conducted a custodian search in at least seven years, Mr. Frost said. Officials interviewed five finalists, including the incumbent, which he declined to name. The search was conducted internally.

    Global fund managers see growth ahead — survey

    NEW YORK — Most global fund managers surveyed by Merrill Lynch this month expect interest rates to rise and growth, not cost-cutting, to boost company profits, setting the stage for a classic cyclical recovery. Half of the fund managers viewed bonds as overvalued compared with equities and agreed that global consumer staples and utilities are making way for general industrials.

    Recommended for You
    Read the print edition of P&I
    Targeting millennials: Author, niece put his latest book to music
    Targeting millennials: Author, niece put his latest book to music
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    DC Plan Design: Improving Participant Outcomes
    Sponsored Content: DC Plan Design: Improving Participant Outcomes
    Sponsored
    White Papers
    2023 Hot Topics in Retirement and Financial Wellbeing
    Bonds: Shaken, but Not Stirred
    A Study of Allocations to Alternative Investments by Institutions and Financial…
    Unlocking Hidden Value in Japan
    The Art of the Possible in Data Automation for Institutional Investors
    Parnassus View - Investing in AI: Transformative New Tech, Same Old Rules
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    December 12, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Custom Content
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Artificial Intelligence
      • Consultants
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Regulation
      • SECURE 2.0
      • Special Reports
      • Washington
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Influential Women in Institutional Investing 2023
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • ESG Investing | Industry Brief
      • Innovation in ESG Investing
      • 2023 ESG Investing Conference
      • ESG Rated ETFs
      • Divestment Database
    • Defined Contribution
      • Latest DC News
      • The Plan Sponsor's Guide to Retirement Income
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • DC Plan Design: Improving Participant Outcomes
      • 2023 Defined Contribution East Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Research Center
      • The P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
    • Careers
    • Events
      • View All Conferences
      • View All Webinars