Asset Managers – Page 256
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Citigroup, LGIM in pooling tie for Dutch schemes
EUROPE – Citigroup’s Global Transaction Services arm has created a pension pooling structure using an Irish common contractual fund vehicle for the Dutch pension fund clients of Legal & General Investment Management.
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Shell may pool international pension assets
NETHERLANDS – Oil giant Shell is looking at pooling the assets of some of its main international pension funds under the Netherlands’ new tax-transparent asset pooling vehicle ‘Fonds voor Gemene Rekening’.
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Nordrheinische doctors fund taps GSAM for GTAA
GERMANY – Nordrheinische Ärtzeversorgung (NAEV), a €7.5bn pension fund for physicians, has awarded Goldman Sachs Asset Management a global tactical asset allocation mandate worth €60m.
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France’s new Natixis to be €534bn heavyweight
FRANCE - After two and half months of discussion, Caisse d’Epargne and Banque Populaire yesterday signed an agreement to merge their investment subsidiaries Natexis and Ixis - creating France’s second largest funds management company with assets of €534bn.
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Norwegian government fund excludes Wal-Mart
NORWAY – US retailer Wal-Mart is being excluded from the Norwegian Government Pension Fund – Global’s investment universe because of alleged serious and systemic human rights violations.
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City of Westminster axes Henderson, Aberdeen
UK – The roughly £600m (€871m) City of Westminster pension fund has axed Henderson Global Investors and Aberdeen Asset Management following a scheme restructure.
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CSAM Germany gets new chief investment officer
GERMANY - The German arm of Credit Suisse Asset Management has promoted Stefan Keitel as its new chief investment officer.
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Total scheme puts €10m into Kempen fund
NETHERLANDS – Stichting Total Pensioenfonds Nederland has put €10m into Kempen Capital Management’s new European Dividend Fund.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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SEI names Benelux client service director
BENELUX – SEI Investments has named Fortis Investments’ Peter in de Rijp as its new client service director for Benelux.
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Dutch rail fund questions real estate boom
NETHERLANDS - Dutch pension funds will ditch bricks for funds, according to Peter van Gool, deputy director of real estate at Dutch pension fund SPF Beheer.
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Fidelity seeks new Swiss institutional head
SWITZERLAND – Fidelity International says it is talking to headhunters about finding a replacement for Swiss institutional investment director Raoul van der Lugt.
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IPE-QUEST: Danish fund tenders emerging equities
DENMARK – A Danish pension fund has tendered up to $100m (€77.2m) in global emerging market all-cap core equities via IPE-Quest.
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Small Dutch funds must consolidate – Robeco
NETHERLANDS – Small Dutch pension funds need to consolidate into two or three large national schemes to stay competitive in Europe, says Robeco chief executive George Moller.
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Swiss Life names Dutch asset management CIO
NETHERLANDS - Pension insurer Swiss Life has named Gerard Sirks as chief investment officer of its Dutch arm Zwitserleven, it announced.
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Mercer unveils one-stop-shop pensions service
UK - Mercer Human Resource Consulting has launched a one-stop-shop service in the UK that combines pension scheme management, administration, asset management and member communications for a fixed fee.
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SRI community ‘falling down on communications’
SWEDEN – Communication – or the lack of it – on socially responsible investing has emerged as a key issue at a conference on SRI and corporate governance this week.
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MetallRente joins enhanced analytics group
GERMANY – MetallRente, the €556m pension fund for Germany’s metalworking and engineering industries, has joined the Enhanced Analytics Initiative.
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Etera investment chief Korhonen joins Kaupthing
EUROPE – Ari Korhonen, chief investment officer at the €5.58bn Etera Mutual Pension Insurance Co. is to take over as head of Kaupthing Asset Management in Finland.
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Union Investment offers overtime accounts
GERMANY – Union Investment has become the latest German fund manager to offer so-called ‘overtime accounts’ – a vehicle that can be used by employees to finance early retirement.
