All articles by Barbara Ottawa – Page 127
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European construction pensions task force (amended)
EUROPE – The European Association of Paritarian Institutions has a task force looking at the impact of portable pensions on the construction sector (amends to clarify earlier article).
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Avis closes German pension scheme
GERMANY – Loss-making car rental group Avis Europe has disclosed that it gained €3.2m by closing the pension scheme in its German branch for new employees and freezing accrued benefits.
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AP4 misses benchmark again
SWEDEN – AP4, the Swedish buffer fund AP4 that is getting a new chief executive, has reported first-half returns 0.8% - 0.5 percentage points below benchmark.
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UK schemes quiz firms on women’s pay
UK – The Local Authority Pension Fund Forum has written to all companies in the FTSE 350 index enquiring about equal pay for women.
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AP3 to analyse asset management structure
SWEDEN - Swedish buffer fund AP3 says it will analyse its asset management structure in the second half of 2006, according to its latest half-year report.
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JP Morgan ousts Wellington at Merseyside
UK - The £3.8bn (€5.5bn) Merseyside Pension Fund has appointed JP Morgan Asset Management for its newly created £100m European (ex-UK) equities mandate.
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Folksam facing money-laundering allegations
SWEDEN - Swedish insurance company Folksam is facing allegations that it offered clients money-laundering opportunities.
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Schroders’ Denmark chief retires
DENMARK - Steen Svendsen has retired as managing director of Schroders Investment Management Denmark to take a role at a private equity group.
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Hewitt’s Paris head Puche leaves
FRANCE – Vincent Puche, head of Hewitt Associates’ Paris investment practice, has left the firm (adds investment).
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Rentokil details asset revamp
UK – Pest control firm Rentokil Initial, which is the process of closing its defined benefit pension fund, has revealed more details about the scheme’s switch into bonds.
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Asset chief takes over at Finland’s Evli
FINLAND – First-half losses at Finland’s Evli Bank have been followed by asset management chief Maunu Lehtimäki taking over as group chief executive from Henrik Andersin.
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Bulgarian pension fund Doverie taken over
BULGARIA - The largest Bulgarian pension fund, Doverie, has been taken over by Austrian insurance group Wiener Städtische as part of a complex deal with investment group Kardan.
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AP1 chooses six emerging markets managers
SWEDEN - The Swedish buffer fund Första AP-Fonden, or AP1, has awarded emerging markets mandates to six of the 12 managers it named a year ago.
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Germany’s EnBW confirms multi-billion revamp
GERMANY – Energie Baden-Württemberg, Germany’s third largest energy firm, has completed a revamp of the way its pension money is invested, switching to a so-called ‘master-fund’ structure for the assets.
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SEB Asset Management names new head
SWEDEN – Fredrik Boheman has been named as Harry Klagsbrun’s successor as head of SEB Asset Management.
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AMF Pension makes 0.5% return
SWEDEN - AMF Pension’s total returns were down to 0.5% in the first half of 2006 from 8.6% for the same period last year.
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Aon buys Swedish pensions firm
SWEDEN - Aon Consulting has bought Swedish pension management firm Förmånsoptimering for an undisclosed sum.
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Market-hit Swiss pension funds return -0.3%
SWITZERLAND - Swiss pension fund returns fell to –0.3% in the first half of this year, hit by severe losses in the global equity and bond markets, according to the ASIP industry association.
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BNP Paribas names global relationship manager
GLOBAL – BNP Paribas has appointed Scott Dickinson as global relationship manager in London covering the institutional investor and financial intermediaries client segment, focusing on alternative assets.
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Pension funds give boost to waste and water investments
UK – Several major UK pension schemes holding shares in Impax, the only pure play environmental investment vehicle in the FTSE All Share index, haveinvested in two of the company’s funds bringing the total of funds under its management up to over £400m(€578m).
