All Alternatives articles – Page 130
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News
Morgan Stanley asset management profit slips 16%
GLOBAL – Second-quarter pre-tax income at Morgan Stanley Investment Management fell 16% to $175m (€144m) from $209m a year before.
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News
Allianz fund arm makes US disposal
GERMANY - Allianz Global Investors has sold Cadence Capital, a US institutional fund manager, to Cadence’s management and an outside private equity firm for an undisclosed sum.
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News
Watson’s Urwin doubts hedge fund capacity
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the performance of fund of hedge funds is “in doubt” due to a lack of capacity at some of the managers.
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West Midlands scheme recruiting two managers
UK – The £5.4bn (€8.07bn) West Midlands Pension Fund is looking for two internal equity investment managers following an internal restructuring.
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News
Varma’s capital markets chief Kuusisto resigns
FINLAND - Petri Kuusisto, director of capital markets at Finnish pension insurance company Varma, is to resign and be replaced by Mikko Koivusalo.
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France’s FRR calls managers to SRI meeting
FRANCE – The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, is planning to meet asset managers about socially responsible investing later this month.
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Dutch system seen as global pension leader
NETHERLANDS – “The Dutch pensions industry had come from being a virtually unknown pension power 10 years ago, to being the global pension revolution leader today,” said Keith Ambachtsheer, academic and strategic adviser to pension plans.
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Inarcassa CEO Tosi joins alternatives house
ITALY - Paolo Tosi, chief executive of Inarcassa, the €3bn pension fund for self-employed architects and engineers, has left the fund to join alternatives group Kairos Partners.
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MN Services changes management structure
NETHERLANDS – Dutch pension manager MN Services has named Wouter Pelser as co-head of asset management in a bid to enhance efficiency.
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Railpen hires former Lane Clark consultant
UK - Railpen Investments, which manages £15bn (€22.6bn) of pension assets for the UK rail industry, has hired a former consultant from Lane Clark & Peacock as senior investment manager.
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Handbook flags directive’s impact on hedge funds
IRELAND – The European savings directive on the funds industry will have an impact on Hedge funds and hedge fund of funds, according to a handbook from Dublin- and London-based funds consultancy Carne Global Financial Services.
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News
Hedge funds own 3.8% of UK market – SSGA
UK – State Street Global Advisors says it estimates that hedge funds own around 3.8% of the UK equity market.
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Deutsche hires UBS exec for hedge fund marketing
EUROPE – Deutsche Bank says it has hired a marketing executive from UBS as head of European distribution for its Deutsche Asset Management arm’s absolute return strategies unit.
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South Yorkshire scheme loses team member
UK – The South Yorkshire Pensions Authority, which manages £2.7bn (€4bn) of assets, is looking for an investment manager following the departure of one of its six-strong investment team.
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IPE-QUEST: Dutch scheme tenders portable alpha
NETHERLANDS – A Dutch investment consultant has tendered a multi-asset class portable alpha mandate worth at least €15m via IPE-Quest.
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France's FRR names private equity consultant
FRANCE - The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund has named a consultant to help it choose private equity managers.
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News
ING buys Slovakia pension fund for €35m
SLOVAKIA – Dutch banking group ING has signed an agreement to buy Slovakian private pension fund VSP Tatry Sympatica for €35m.
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Pension funds pull €1.6bn from Liontrust
UK – Pension funds pulled £1.1bn (€1.6bn) from equity specialist Liontrust Asset Management in the year to the end of March – hit by a move towards hedge funds.
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News
Volkswagen Pension Trust in revamp (Update)
GERMANY - Volkswagen Pension Trust, the pension fund for the German car giant, has completed a sweeping revamp of the way its €1.5bn in pension assets are invested (Updates with clarification, fresh edit).
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Features
Absolute returns harder to find?
In theory, hedge funds are all about delivering absolute returns – finding the elusive alpha. Until now, it has been universally accepted that the objective of a hedge fund is to provide positive absolute returns over a medium-term investment horizon irrespective of market environment and traditional market performance. But in ...
