All articles by Barbara Ottawa – Page 98
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DSK to deliver IORP-compliant pensions
[16:30 CEST 15-08] BULGARIA – DSK-Rodina has become the second pension provider to receive a licence to offer occupational pension funds under the third pillar.
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IPE-QUEST: $60m specialist equity mandate
[13:30 CEST 15-08] DENMARK – Investment consultant Kirstein Finance is looking for a manager for $50m to $70m (>€37m) a global technology equities manager on behalf of a Danish asset manager using IPE-Quest.
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Northern Trust doubles pooling assets
[16:45 CEST 14-08] GLOBAL – Assets under custody in Northern Trust's cross-border pooling vehicles have more than doubled over the last year to reach $24bn (€17.7bn).
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Barclays appoints Russell for pension plan
[16:30 CEST 14-08] UK – The £16.8bn (€24.9bn) Barclays Bank UK Retirement Fund has awarded a £2bn multi-manager high alpha equity brief to Russell Investments.
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UBS feels costs of DRCM closure
[16:30 CEST 14-08] SWITZERLAND – Swiss bank UBS saw net outflows of CHF2bn (€1.22bn) for its asset management business for the first half of 2007, as institutional clients withdrew CHF2.5bn in the same period.
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Fortis Investments grows institutional assets
[16:15 CEST 14-08] BELGIUM – Fortis Investments saw its institutional assets under management rise to €49.5bn at the end of June from €46.9bn at the end of last year.
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FRR finds new CIO
[14:53 CEST 14-08] FRANCE – Nicolas Sobczak was named the new chief investment officer of the €33.4bn Fonds de Réserve pour les Retraites (FRR).
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Threadneedle boosts hedge fund division
[16:45 CEST 13-08] GLOBAL – Threadneedle Investments is acquiring specialist hedge fund manager Convivo together with its $476m (€348.3m) emerging markets portfolio.
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UK funds half deficits despite turbulent markets
[16:45 CEST 13-08] UK – The Pension Protection Fund's (PPF) second funding index showed aggregated pension fund surplus fell from £99bn (€146bn) at the end of June to £51bn only one month later following market downturns in July.
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Bulgarian Doverie confirms investment trend
[16:30 CEST 13-08] BULGARIA – Pension funds are looking for alternatives both in the bonds and equities sectors as government bonds are becoming less attractive.
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Czech pension funds see profits soar
[16:45 CEST 10-08] CZECH REPUBLIC – Pension funds increased their combined profit to CZK2.63bn (€93m) for the first half of 2007, from CZK1.69bn a year ago.
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Bulgarian pension fund assets rise 22%
[15:30 CEST 10-08] BULGARIA – Retirement savings in second and third pillar pension plans for over 3.2 million Bulgarians have now reached BGN1.85bn (€946m).
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Fixed PPF levy 'problematic for some' - Aon
[16:00 CEST 10-08] UK – Companies and pension schemes could lose out financially should the levy for the Pension Protection Fund (PPF) be set for more than one year, Aon Consulting has suggested.
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Old Mutual sees 11% aum rise
[15:30 CEST 10-08] GLOBAL – London-based asset manager Old Mutual increased its assets under management by £26bn (€38.4bn) in the first half of this year.
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BAE Systems reduces pension deficit to £1.9bn
[15:15 CEST 10-08] UK – The pension fund of aerospace group BAE Systems saw the deficit in its UK defined benefit pension plans reduce from almost £3bn (€4.4bn) at the end of last year to £1.9bn at the end of June.
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Schroders loses £4.1bn in institutional money
[15:00 CEST 09-08] UK – In the first half of this year Schroders managed to stem a £9.8bn (€14.5bn) outflow in institutional funds under management with a £5.7bn inflow.
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State Street steps up private equity servicing
[14:00 CEST 09-08] GLOBAL – State Street has bought the New Jersey private equity specialist Palmeri Fund Administrators (PFA), for an undisclosed sum.
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Luxembourg's FDC appoints actuary
[13:00 CEST 09-08] LUXEMBOURG – The €5bn Fonds de Compensation commun au regime general de pension (FDC) has chosen Ernst & Young as its actuary.
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IPE-QUEST: $50m UK equity mandate
[12:30 CEST 09-08] EUROPE – A European multi-manager is tendering a $50m (€36.3m) UK large-cap mandate using IPE-Quest.
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Pension protection levy to be set for three years
[16:55 CEST 08-08] UK – The Pension Protection Fund (PPF) has released a consultation questioning whether the levy pension schemes pay should be fixed for three years.
