Asset Managers – Page 217
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News
"Don't be obnoxious", pension funds tell managers
[14:00 CET 08-02] GLOBAL – Being targeted with sales pitches after 11.30pm when attending conferences and leaving "half an hour" messages on voice mails are just two of the 'don'ts' asset managers have been told to avoid, as pension fund officials find them annoying.
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Hansa sets up own private equity vehicle
ESTONIA – Hansa Investment Funds, the asset manager that also runs Estonia’s largest private pension fund, is looking to create a special vehicle of “Eastern European-orientated” private equity fund of funds.
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PGGM signs second loan deal with ABN Amro
[13:45 CET 04-02] NETHERLANDS – Pension major PGGM has closed a securitisation deal referencing Brazilian loans worth $850m (€585m) of the loan portfolio of Dutch bank ABN Amro.
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Lincolnshire splits £185m currency mandate
[14:00 CET 01-02] UK – Lincolnshire County Council pension fund has split a £185m (€247m) currency overlay mandate between two companies.
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Friends Prov to sell F&C and Lombard
[16:00 CET 31-01] UK – Friends Provident is looking to sell its 52% stake in F&C Asset Management, after it concluded the firm does not fit into its revised strategy.
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Fortis begins to annex ABN Amro asset management
[15:30 CET 31-01] BELGIUM – Fortis, part of the banking-trio that has bought ABN Amro, will begin demerging ABN Amro’s asset management from the bank arm, and adding it to its own asset management business.
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“Strong investor" could help small UBS shareholders - Profond
[16:30 CET 30-01] SWITZERLAND – President of the Pensionskasse Profond, Herbert Brändli, has suggested having one large shareholder at Swiss bank UBS might prevent similar “mistakes by the management” which led to losses of several billion Swiss francs last year.
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NIBC chief steps down as Kaupthing deal collapses
[15:00 CET 30-01] ICELAND/NETHERLANDS – NIBC chief executive Michael Enthoven has resigned following major Icelandic bank Kaupthing announcement it will not proceed with its €3bn acquisition of the Dutch investment bank.
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News
TKP Investments eyes cross-border business (amended)
[16:30 CET 29-01] NETHERLANDS – The investment branch of TKP Pensioen, the pension administration firm set up by the Dutch posts and telecoms pension funds, is planning to offer cross-border pooling to European pension funds.
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News
Dexia sets up Polish asset arm
POLAND – Belgian-French financial services group Dexia’s asset management arm has launched its first Polish office in Warsaw.
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NewsSchemes warned of deficit risk from markets
[16:55 CET 28-01] GLOBAL/UK – Falling equity markets combined with lower bond yields and increasing longevity could push schemes back into deficit in 2008, the International Financial Services London has warned.
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NewsIslamic investor quest for diversified reviews
[16:15 CET 28-01] MIDDLE EAST – The Islamic Corporation for the Insurance of Investments and Export Credits is conducting a review of potential providers for Shariah-compliant investments in 11 different sectors.
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NewsKaupthing denies NIBC deal is in trouble
[15:30 CET 28-01] ICELAND – Iceland’s Kaupthing Bank has denied its deal with US buyout firm JC Flowers to buy Dutch investment bank NIBC for €3bn is in jeopardy of being blocked.
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NewsSchemes to increase focus on risk hedging
[14:30 CET 28-01] UK – Pension funds will place more emphasis on risk hedging in 2008, but will continue to move towards absolute return strategies, fund managers have predicted.
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NewsNew player enters Austrian MVK market
[11:30 CET 28-01] AUSTRIA – Markus Zeilinger, former chairman of the board at the Bonus Pensionskasse and Mitarbeitervorsorgekasse (MVK), is setting up a new Vorsorgekasse for severance pay MVK.
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News
Achmea/Interpolis rebrand pensions business
[15:00 CET 24-01] NETHERLANDS – Dutch insurance groups Achmea and Interpolis have today announced the launch of their recently combined pension fund administrator arm, Syntrus Achmea.
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Rogue trader loses SocGen €4.9bn
[12:00 CET 24-01] FRANCE – French investment giant Société Générale has today admitted it needs to raise €5.5bn in new capital through share issuance after discovering a rogue trader in its hedging operations.
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News
Clarity sought on Denmark's common fund
[16:10 CET 23-01] DENMARK - Denmark’s pension schemes need to be clearer about the money going in and out of the "common fund" of traditional with-profits schemes, warned Economics and Business Affairs Minister Bendt Bendtsen.
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News
EC seeks pensions innovations, with guarantees (amended)
[16:00 CET 23-01] EUROPE – Officials at the European Commission and European Parliament have called for the development of innovations and new ideas in pensions delivery which could provide some level of guarantee to retirement incomes but which do not restrict investments to the fixed income market.
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News
2008 centre-stages alternatives, real returns and funding
[16:55 CET 22-01] EUROPE – Allocation to alternative assets will increase in 2008 and Dutch pension funds will continue to seek real returns as German corporates’ appetite for funding grows, investment bank Lehman Brothers has suggested.
