Wed, Oct 7, 2015
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.


(Press release)

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. U.S. hedge funds prepare for worst finish this year since 2008[more]

    Komfie Manalo, Opalesque Asia: U.S.-focused hedge funds are preparing for their worst year since the 2008 global financial crisis, following a series of letdown including the market sell-off in August and the sell-off in healthcare and biotechnology sectors last month, reported

  2. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  3. DoubleLine’s Jeffrey Gundlach warns of another round of market shakedown[more]

    Komfie Manalo, Opalesque Asia: DoubleLine Capital co-founder Jeffrey Gundlach is painting a bleak future as he warned that the U.S. equity market and other risk markets, such as high-yield "junk" bonds, are facing another round of selling pressure. Gundlach said in an interview with

  4. A hedge fund strategy that seems to have fizzled[more]

    From The hedge fund strategy that has attracted the most money this year is on course to cause some of the biggest losses for investors, in the latest example of the dangers of going with the crowd. Institutions and individuals have piled an estimated $20 billion (Dh73 billion) into ma

  5. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i