All IPE articles in August 2005 (Online) – Page 4
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News
CalPERS hails success of moving assets in-house
US – The California Public Employees' Retirement System, the largest US pension fund, has hailed its success in taking the management of its portfolio in-house.
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Achmea looking to boost profits ahead of merger
NETHERLANDS – Pension common management firm Achmea is undergoing a “commercial vitality project” ahead of its merger with Interpolis.
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Heath Lambert ‘unlikely to come out of PPF’
UK – The three pension schemes of insurance broker heath Lambert are unlikely to come out of the Pension Protection Fund, says their independent trustee.
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Cayman Islands boosted by pension inflows
CAYMAN ISLANDS – The Cayman Islands’ hedge fund industry is still being boosted by pension fund inflows, according to a local legal firm.
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GSAM says it wins €785m from local authorities
UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.
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Deutsche warns on German demographics
GERMANY - Germany’s labour force could shrink by as much as a fifth by 2050, which could worsen the demographic problem and hinder economic growth, according to a new research report from Deutsche Bank.
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Threadneedle names Nordic distribution head
NORDIC – Threadneedle Investments has named Thomas Berglund as head of Nordic distribution, responsible for the developing the firm’s business in Sweden, Norway, Denmark and Finland.
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Dutch occupational schemes eye own governance
NETHERLANDS - The 11 Dutch occupational pension funds are developing their own code for corporate governance.
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Dutch schemes ‘prefer internal supervision’
NETHERLANDS - The Dutch pensions industry is resisting the appointment of external supervisors amid negotiations for a code for corporate governance, according to reports.
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Greek pension strikers clash with police
GREECE – Greek bank workers have clashed with police during a strike about pensions, according to a union official.
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JP Morgan AM names Switzerland head
SWITZERLAND - JP Morgan Asset Management has appointed BZ Bank’s chief executive, Roland Vogel, as country head for Switzerland.
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AP2 returns 8.4% after cutting external managers
SWEDEN - The Second Swedish National Pension Fund, AP2, made an 8.4% return on its investments in the first six months of 2005.
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Pioneer taps Morley's Yiannakou for institutions
UK - Pioneer Investments has hired Morley Fund Management's Chris Yiannakou as consultant relations manager as it seeks to boost its institutional business.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Germany’s Merkel names pensions shadow
GERMANY - Ursula von der Leyen, a little-known social affairs ministers in the state of Lower Saxony, could be Germany’s next minister for pensions if the CDU/CSU wins the federal election on September 18.
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Skandia hands €500m equities brief to NTGI
SWEDEN – Skandia Liv has handed a €500m passive international equities mandate to Northern Trust Global Investments.
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Reuters awards custody to Bank of NY in revamp
UK - The £650m (€953m) Reuters Pension Fund, the main UK scheme of the news and data group, has awarded a custody mandate to the Bank of New York after a revamp.
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Dutch experts at odds over average premiums
NETHERLANDS - Abandoning the average pension premiums will threaten rather than improve the Dutch pensions system, says the director of the Association of Industry-wide Pension Funds, or VB.
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Germany’s DIW calls for higher retirement age
GERMANY - A leading economist has called for the retirement age to be lifted to 70 by 2015 at the earliest to ease the tremendous pressure on Germany’s state-run pay-as-you-go pension scheme.
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Schroders has €2.9bn institutional outflow
UK – Schroders has continued to lose institutional assets, with a £2bn (€2.9bn) net outflow in the first half of 2005.