Asset Managers – Page 189
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News
BlackRock completes BGI takeover
[16:30 CET 02-12] GLOBAL – BlackRock has finally completed the deal to buy Barclays Global Investors (BGI) and ETF provider iShares from Barclays Group, making it the largest asset manager in the world.
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PFA expands into Danish retail pensions
[16:55 CET 01-12] DENMARK – Danish occupational pension provider PFA Pension has taken its first step into the retail pensions market, and linked up with Danish local and regional savings banks to provide private pensions.
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AP3 targets corporate credit managers
[16:50 CET 01-12] SWEDEN – Tredje AP-fonden (AP3), the third Swedish National Pension Fund is seeking a number of corporate credit bond managers for its SEK188.6bn (€18.1bn) fund.
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Italy sees €200m in pension inflows over three months
ITALY - Assogestioni, the Italian asset management association, said open plan pension funds saw net inflows of just €218m between July and September 2009, taking the overall net value of Italian pension fund assets to nearly €6bn.
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UK roundup - Torfaen, RPMI, BMI, Harrods, East Riding
[16:30 CET 30-11] UK – Torfaen Council has appointed a global equity manager, while RPMI has been awarded the administration contract for the Arup pension fund.
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Pension schemes warned to prepare inflation-proof strategies
[16:15 CET 30-11] GLOBAL/UK – Pension funds and other institutional investors, particularly those with inflation-linked liabilities, have been advised by Watson Wyatt to plan ahead for a return to high inflation, even though suitable investments could in some cases prove expensive.
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SRI is dying, claims PwC
[16:50 CET 24-11] GLOBAL – The concept of socially-responsible investment (SRI) is dying, according to Jon Williams, a partner at PricewaterhouseCoopers, although he admits the models of negative and positive screening and engagement could remain valuable for certain types of investors.
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Active managers should be performing by now - Halbis
[16:15 CET 24-11] GLOBAL - Many active asset managers have underperformed the market this year despite almost perfect conditions, according to Ian Barnett, global head of investment risk at Halbis.
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Icelandic Investment Fund delayed
[15:50 CET 24-11] ICELAND – The establishment of the Icelandic Investment Fund (IIF) has been delayed until next month to give pension funds more time to decide whether or not to join the venture.
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Ireland to target cross-border pensions - Cowen
[16:00 CET 20-11] IRELAND – Brian Cowen, the Irish Taoiseach (prime minister) says his country will maintain its position as a 'centre of excellence' in the management of European pension funds by targeting cross-border pension activity.
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FRR awards €4bn to inflation-linked bond mandates
[14:30 CET 20-11] FRANCE - Fonds de reserve pour les retraites (FRR), the €31.9bn French national pension reserve fund, has awarded €4bn in bond mandates to six major managers
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Half of fund managers predict strong growth in 2010
[117:30 CET 19-11] GLOBAL - More than 50% of fund managers expect to witness double-digit profit growth over the next year, according to a new Bank of America-Merrill Lynch survey.
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Innovative SRI products needed, say pensions execs
EUROPE – Panellists at the European Pension Funds Conference in Frankfurt have called on SRI/ESG service and product providers to come up with innovative products to help pension funds adapt their investments.
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Pensions focus 'must shift to liability benchmarking'
[13:30 CET 18-11] NETHERLANDS – One impact of the credit crisis on pension funds is the growing importance of risk management and a focus on moving towards using scheme liabilities as the ultimate benchmark, according to Jan Willem van Stuijvenberg.
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Positive link between ESG and financial performance - Mercer
[16:55 CET 17-11] GLOBAL - More academic research has shown that environmental, social and governance (ESG) factors can have a positive impact on portfolio returns.
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NewsUnilever's Docherty predicts trustee behaviour change
[14:00 CET 17-11] UK – The recent economic downturn is likely to have led to a change in trustees' behaviour with regards to pension investment strategy and a greater balance between risk and reward, according to Unilever pension fund's Angela Docherty.
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Norway Global seeks further screening service
[17:00 CET 16-11] NORWAY – The Norwegian ministry of finance is seeking an ethical screening service for the Norwegian Government Pension Fund – Global to assess possible breaches of its guidelines concerning the manufacture of tobacco, anti-humanitarian weapons and military supplies to Burma.
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Asset managers must 'kill sacred cows' – McKinsey
[15:00 CET 13-11] EUROPE – Asset managers were saved by institutional inflows during the crisis but in order to survive it they will have to restructure their businesses, management consulting firm McKinsey & Company says.
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NewsAPG calls on EC to temporarily withdraw AIFM
[16:00 CET 12-11] EUROPE – APG has called on the European Commission to temporarily withdraw its proposals on the draft directive on Alternative Investment Fund Managers (AIFM) in light of the large number of expected amendments and to produce a "more balanced proposal by the summer".
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State Street ups fund to fight investor claims
[14:00 CET 09-11] GLOBAL – State Street has increased the battle fund it set aside in November 2007 to cover potential legal claims regarding its fixed income investment strategies, which were alleged to have exposed institutional investors to sub-prime mortgages.
