All articles by Carolyn Bandel – Page 70
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TIAA-CREF hands State Street additional €152bn mandate
GLOBAL – The $380bn US educational retirement savings group TIAA-CREF has awarded institutional investment manager State Street an agreement to provide management services for an additional $190bn(E152bn) in assets.
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Allianz to launch pan-European pensions
EUROPE – Allianz will launch a new pan-European pension fund offering later this year, the German insurer and financial service provider announced today.
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Wiltshire fund tenders following review
UK – The £1bn (€1.48bn) Wiltshire County Council Pension Fund is tendering for pension investment services representing a total of up to £525m in active currency, unconstrained global equity and long-short equity.
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Fortis Investments names Rake as COO
BELGIUM – Fortis Investments, the asset management arm of the Fortis group, has nabbed Deutsche Asset Management’s Keith Rake to become its new chief operating officer and member of the executive committee.
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ABP names new quant head
NETHERLANDS – Erik Rubingh has been promoted to new manager for global quantitative equity strategies at the investment arm of giant Dutch pension fund ABP.
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Newham Pension Fund ventures into active currency
UK – The £540m (€747m) London Borough of Newham Pension Fund is looking to appoint one or more managers for a new active currency portfolio.
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Dutch union’s new DC scheme gets go-ahead
NETHERLANDS – Trade union FNV, the largest in the Netherlands, will go ahead with its new defined contribution pension fund for self-employed members from next year.
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Management change at Philips’ German fund
GERMANY – Philips Pensionskasse, the €650m pension fund of Philips’ German division, is looking for a new head of treasury.
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Woolworths pension head slams UK regulation
UK – Elisabeth Browning, group pensions manager at the £300m (€438m) Woolworths group pension scheme, has attacked UK pension regulation, calling it “crippling” and “confusing” for members.
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French institutional assets rise 39% - study
FRANCE – Fund managers on the French market have seen a rise of 39% to €610bn (£387.8m) in French institutional assets under management, according to a study by consultancy firm Bfinance.
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PME puts €250m into US forestry
NETHERLANDS – PME, the €19bn Dutch industry-wide scheme for metal and electro-technical engineering industry, has invested €250m in American forestry, the fund announced today in its third quarter results.
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Dutch funds’ commodities returns stall
NETHERLANDS – Commodities returns at three of the largest Dutch pension funds went into negative territory in the third quarter due to declining oil prices.
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Pilots’ pension fund takes Aer Lingus stake
IRELAND – Airline Pilots’ Pensions, the pension scheme of Aer Lingus pilots, has bought a 2.12% stake in the Irish airline in an apparent effort to obstruct budget carrier Ryanair’s €1.4bn hostile takeover bid.
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New head at €8bn Novartis scheme
SWITZERLAND – Gino Pfister has stepped down as director of the Novartis pension fund, one of Switzerland’s biggest with CHF14.6bn (€8.6bn) in assets.
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Commission plans more legal action on IORP
EUROPE – The European Commission is likely to take more legal action against member states over the implementation of the European directive on occupational pension funds, a top official has said.
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Dutch funds set up awareness campaign
NETHERLANDS – The €11.1bn Spoorwegpensioenfonds (SPF) pension scheme for railway workers is setting up a campaign to raise pension awareness among 25 to 35-year-olds.
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BP scheme backs Swedish venture fund
EUROPE – The £12bn (€17.4bn) BP Pension Fund has been named as one of the investors in the new InnKap 4 fund of Swedish venture capital firm InnovationsKapital.
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Dutch consultant HV&P joins Milliman
GLOBAL – Milliman Global has added Dutch employee benefits consultant HV&P to its global network of independent actuarial and consulting firms, it was announced today.
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Irish NPRF seeking real estate, pvt equity admin
IRELAND – The National Treasury Management Agency (NTMA) is looking for administrative support for the National Pension Reserve Fund’s property and private equity portfolios.
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ABP’s CFO critical of UK pension system
EUROPE - Dick Sluimers, chief financial officer at Stichting Pensioenfonds ABP, has criticised the UK pension system.
