All Alternatives articles – Page 113
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IMA creates new role of head of tax
UK – The Investment Management Association has created a new role of head of tax to help it deal with a higher workload in the area.
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Contrarian Faber: pension funds should exit US
SWITZERLAND – Noted “contrarian” investment guru Marc Faber says he would advise Swiss pension funds to move assets out of the US and into Asia.
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Vervoer taps GSAM for €5.4bn fiduciary brief
NETHERLANDS – Dutch industry-wide transport fund Pensioenfonds Vervoer has appointed Goldman Sachs Asset Management to run a €5.4bn fiduciary mandate – resulting in a loss for incumbent F&C.
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Harrow tenders private equity, currency overlay
UK – The £400m (€587m) Harrow Pension Fund has tendered around £20m in private equity and £150m in currency overlay.
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Germany’s BPS-PT to sell pension-backed bonds
GERMANY – The Bundes-Pensions-Service für Post und Telekommunikation, a pension fund for former postal and telecoms employees, has confirmed plans to sell another €7.5bn worth of euro-denominated bonds backed by pension obligations.
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JP Morgan plans further hedge fund deal
UK – JP Morgan is close to doing a deal with a UK-based hedge fund manager with some £2bn (€2.9bn) in assets under management, according to a senior figure at the bank (Updates to clarify nature of deal).
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UK’s Kent County Council rejigs manager roster
UK - The roughly £2.3bn (€3.4bn) Kent County Council pension scheme has axed Goldman Sachs Asset Management from a roughly £350m UK and overseas equities mandate amidst a strategic asset reshuffle at the scheme.
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CalPERS names 11 new managers
GLOBAL – The California Public Employees' Retirement System, the $210bn (€163.8bn) public pensions giant, has selected 11 active international equity managers to manage portfolios in developed and emerging markets.
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SEB hit as asset management CEO quits
SWEDEN – Harry Klagsbrun, chief executive of SEB Asset Management, has quit to join private equity firm EQT Partners as a senior partner.
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Big UK schemes back renewable energy fund
UK – Major UK pension funds such British Airways, USS and South Yorkshire have invested in a fund specialising in renewable energy.
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Sal. Oppenheim buys into UK hedge funds
GERMANY – Sal. Oppenheim, a German private bank, has acquired sizeable stakes in London-based hedge fund providers Attica Alternative Investments (AAI) and Integrated Asset Management (IAM). Financial details were not disclosed.
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Raise pension age to 67, says DNB president
NETHERLANDS - The government should seriously consider raising the official retirement age by two years to 67, says De Nederlandsche Bank president Nout Wellink.
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Swiss schemes want investment rules relaxed
SWITZERLAND – Swiss occupational pension funds want investment regulations relaxed, according to a survey by Swisscanto Asset Management.
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Hymans sees shift to global equities, bonds
UK – The UK’s 50 largest fund managers saw an increased shift from UK equities to fixed income and global equities in 2005, according to an annual survey by Hymans Robertson.
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Luxembourg facing “stiff” pensions competition
LUXEMBOURG – Luxembourg is likely to face “stiff” competition in the race to become the domicile of choice as European pension funds are privatised, according to a new report.
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West Sussex reviews €950m Baillie Gifford brief
UK – Baillie Gifford could be axed as active balanced fund manager of the £1.4bn (€2bn) West Sussex County Council pension fund following the scheme’s regular review process.
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Aon puts €129m into UK pension plans
UK – Consulting and insurance firm Aon Corp. says it put $164m (€129.3m) of financial instruments into its various UK pension schemes in the first quarter of this year.
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AP1 managers leave to form hedge fund
SWEDEN – The roughly SEK33.6bn (€3.6bn) Swedish hedge fund outfit Brummer & Partners has nabbed two asset managers from buffer fund Första AP-fonden, or AP1, to develop a new hedge fund.
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Morgan Stanley IM names alternatives chief
GLOBAL – Morgan Stanley’s prime broker heavyweight and hedge fund specialist, Stu Bohart, has been appointed chief of alternative investments at Morgan Stanley Investment Management.
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Leicestershire axes BGI in review
UK – The £2bn (€2.9bn) Leicestershire County Council Pension Fund has axed Barclays Global Investors as manager of a roughly £400m multi-asset class passive portfolio following a review of the scheme structure.
