Fri, Feb 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Man awarded BVK managed account mandate

Tuesday, March 08, 2011
Opalesque Industry Update - Man has been awarded a managed account mandate for initially EUR 1.2 billion by Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund with more than EUR 50 billion in assets.

Under the agreement, BVK will start allocating funds over the course of 2011. BVK will gain access to Man’s managed account capabilities, with the benefits of increased transparency, liquidity and control which managed accounts offer. Man, which has more than a decade’s experience in managed accounts and has grown managed account assets to over USD 8.7 billion1, will provide services with regards to operational due diligence, manager take-on and risk management oversight for BVK. Bayerische Versorgungskammer will have sole discretion for manager selection and portfolio construction.

BVK is an amalgamation of 12 first and second pillar pension schemes for liberal professions (e. g. doctors, architects, pharmacists), and municipalities. Between them they have more than 1.5m people insured and 308,000 current beneficiaries in Bavaria and other German federal states. By far the largest of the group in terms of assets is the one for doctors, dentists and veterinarians, which has EUR 16bn in assets and around 90,000 insured. “To be awarded a large mandate by a pension fund as progressive and sophisticated as BVK is a huge achievement for Man and testament to the strength of our managed account offering,” comments Peter Clarke, Chief Executive of Man.

A managed account is a fund which is owned by the investor and controlled by independent third party providers. The managed account’s trading strategy typically mirrors the strategy of an existing investment fund, but the investment mandate can be tailored to meet specific portfolio management requirements. Managed accounts aim to deliver control of assets, transparency and independence in comparison to a conventional commingled fund structure.

Source

(Press release)
bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio

  3. Legal - Fannie, Freddie shares dive after U.S. appeals court ruling[more]

    From Reuters.com: Shares of Fannie Mae and Freddie Mac tumbled more than 30 percent on Tuesday after a U.S. appeals court shut down efforts by hedge funds and other investors to pursue numerous legal claims accusing the U.S. government of seizing their profits following taxpayer bailouts. By a

  4. Institutional investors plan to raise allocations to alternative assets in 2017[more]

    Komfie Manalo, Opalesque Asia: A survey by Context Summits Miami showed that nearly 72% of institutional investors and family offices plan to raise their allocations to alternative asset managers this year, suggesting continued strong demand for the industry. "As many large, brand name f

  5. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012