MANAGER BRIEFS:Threadneedle buys Invesco Perpetual DC unit

LONDON — Threadneedle Investments agreed to acquire the U.K. defined contribution business of Invesco Perpetual, which has £470 million ($921 million) in assets under management, according to a news release. Threadneedle launched its DC business in 2001 and will now manage assets of around £1.3 billion for 100 pension funds as a result of the acquisition. Threadneedle spokeswoman Jane Reynolds could not be reached by press time for further details.

CAMBRIDGE, Mass. — Babson Capital Management has taken over management of Osprey CDO 2006-1, a collateralized debt obligation with $300 million in assets, from Brightwater Capital Management, said spokesman Marty McDonough. The move was made after key managers of the CDO left Brightwater last year, according to people familiar with the CDO, who asked not to be identified.

TOKYO — Nomura Asset Management managed 4.805 trillion yen ($44.7 billion) of public and private pension fund assets in Japan as of Sept. 30, highest among all asset managers, according to an analysis by the Japan Pensions Industry Database. DIAM International was second with 4.773 trillion yen, and BGI was third with 4.326 trillion yen. The number of mandates held by Nomura rose to 294 as of last Sept. 30, up from 289 as of March 31.

“Winning pension mandates is tough in Japan,” Jo McBride, founder and publisher of the Japan Pensions Industry Database, said in a news release. “The country has the world’s second largest pool of job-based pensions savings after the U.S., but it has no pensions media in which fund managers can advertise, no mailing labels provider and not much of anything at all by way of marketing aids. It is down to putting Tokyo staff on trains and boats and planes. For domestic and foreign firms alike, it is expensive and it is hard work.”

LISLE, Ill. — Claymore Securities on Feb. 12 listed three new ETFs on the American Stock Exchange: the Claymore U.S.-1-The Capital Markets index; the U.S. Capital Markets Bond index and the U.S. Micro-Term Fixed Income. The Capital Markets index ETF is the first fund to offer broad exposure to U.S. capital markets as a whole, including stocks, investment-grade bonds and money markets, said Christian Magoon, senior managing director and head of the ETF group at Claymore. The ETFs will track indexes developed by Dorchester Capital Management. The Capital Markets index ETF will track the Capital Markets index; the Bond ETF, the Capital Markets Bond index; and the Micro-Term ETF, the Capital Markets Liquidity index.

MINNEAPOLIS — Somerset Asset Management launched a new alternative income strategy using the same investment approach Dave Van Benschoten, senior vice president and head of fixed income asset management, used when he managed the $3 billion General Mills Inc. defined benefit plan.

Mr. Van Benschoten, who was vice president and treasurer of General Mills, Minneapolis, joined Somerset in July. At General Mills, Mr. Van Benschoten managed about $1 billion in fixed income and other yield-generating assets internally — the same asset classes he’ll be managing in Somerset’s alternative income strategy, said Michael Ott, Somerset president and chief executive officer.

The strategy will invest roughly 25% to 40% of its assets in typical fixed income, another 15% in REITs and master limited partnerships, roughly 30% in preferred stocks and income deposit shares, roughly 10% in closed-end bond funds and preferred funds, and roughly 5% each in callable government agencies, high-yield bonds, high-dividend stocks and energy or high-income placements.

The strategy seeks uncorrelated yields along with capital appreciation that can’t be gained from a typical bond portfolio, Mr. Ott said.

WHEATON, Ill. — PowerShares Capital Management this month plans to list an ETF that invests in Indian equities, according to a PowerShares news release. The PowerShares India Portfolio will list on the NYSE Arca and will track the performance of the Indus India Index compiled by Indus Advisors. Bruce Bond, president and CEO of PowerShares, could not be reached before press time for further details.