All IPE articles in August 2006 (Online) – Page 5
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News
Pension funds offered multi-manager FX product
UK – Pension funds are being offered a new multi-manager foreign exchange product as a way to get exposure to the asset class.
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Hermes’ own pension fund deficit widens
UK - The deficit at Hermes Pension Management’s own £50m in-house scheme widened to £16.6m (€24.4m) last year from £14.7m, company accounts show.
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German institutions ‘still hedge fund sceptics’
GERMANY – German institutional investors are still very reluctant to put money into hedge funds, despite the 2004 liberalisation of the market, says FERI Institutional Advisors.
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AP2 funds GSAM, First Quadrant GTAA mandates
SWEDEN – The Second Swedish National Pension Fund/AP2 says it has funded Global Tactical Asset Allocation mandates awarded to Goldman Sachs Asset Management and First Quadrant two years ago.
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State Street under review at Edinburgh
UK – State Street Global Advisors is facing a review at the £2.1bn (€3.2bn) City of Edinburgh Council Lothian Pension Fund, which is looking to appoint a fund manager for its £125m multi-asset Scottish Homes portfolio.
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UBS, Fidelity under scrutiny at Ealing
UK - UBS Global Asset Management and Fidelity International, currently managing the London Borough of Ealing’s £500m pension fund are under scrutiny.
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Essex pension fund goes unconstrained
UK – The £2.1bn (€3.1bn) Essex County Council Pension Fund is looking to appoint a specialist unconstrained global equity manager for a £140m mandate.
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Publica dragged into insider trading scandal
SWITZERLAND – Publica, one of Switzerland’s largest pension funds, is the latest scheme to become embroiled in the Swissfirst insider trading scandal.
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Hymans facing review at Cornwall
UK - Cornwall County Council has tendered actuarial services for its £980m (€1.4bn) pension fund.
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450 Prudential pensions staff transfer to Capita
UK – Around 450 of Prudential UK’s life and pensions staff are to transfer to Capita under a £40m (€59m) outsourcing contract.
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Lehman nabs Derbyshire for pension role
UK – Investment bank Lehman Brothers has confirmed it has hired Gareth Derbyshire from Merrill Lynch in a senior pensions role.
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Denmark’s ATP gains €670m from hedging
DENMARK - Denmark’s largest pension scheme Arbejdsmarkedets Tillægspension made a DKK 5bn (€670m) profit on hedging activities in the first half of this year.
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Northern Trust names quantitative CIO
GLOBAL – Northern Trust Global Investments has named Steven Schoenfeld to the new role of chief investment officer of Global Quantitative Management.
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ING names CEE securities services chief
NETHERLANDS – Dutch bank ING says it has appointed Lilla Juranyi as its new director of securities services for Central and Eastern Europe.
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Kingston hires HSBC for DB admin
UK – Telecoms firm Kingston Communications has appointed HSBC Actuaries and Consultants Ltd. to provide administration services to its two defined pension schemes covering 2,900 members.
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UBS institutional AUM assets slip €9.5bn
SWITZERLAND – Institutional assets under management at UBS Global Asset Management slipped by CHF15bn (€9.5bn), or 3%, in the second quarter to CHF451bn due to currency and market effects.
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Campina tops up GSAM fiduciary mandate
NETHERLANDS – The €1bn pension fund of diary products firm Campina has now put all its assets in a fiduciary mandate with Goldman Sachs Asset Management.
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Germany’s Funk takes stake in consultant Böhm
GERMANY – Funk Gruppe, Germany’s biggest independent insurance broker, says it has acquired a majority stake in actuarial and pensions firm Böhm Consultants. Financial details were not disclosed.
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CalPERS names bond, real estate managers
US – California’s $205bn (€160bn) public pension giant CalPERS has named 16 managers for international fixed income, real estate equities and US global equities.
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UK coal schemes retain JP Morgan for custody
UK – The two main UK coal industry pension schemes have retained JP Morgan Worldwide Securities Services to serve as global custodian for £18.5bn (€27.4bn) in assets following a review.
