All articles by Cecilia Valente – Page 31
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German management fees vary widely – survey
GERMANY - The fees asked for active management in Germany can vary by over 800%, according to a survey by GSC-PPCmetrics Investment Consulting AG.
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Italian ministries set up pensions database
ITALY - The welfare and economy ministries are poised to create a new central archive to comprise information about employees and professionals required by law to join compulsory insurance or pension schemes, Ccppa.
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Irish reserve fund plans E400m real estate move
IRELAND - The 10 billion-euro National Pensions Reserve Fund has appointed F&C’s Ian Gleeson as property manager to oversee a planned 400 million-euro real estate allocation.
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Half of UK schemes eye hedge funds - survey
UK - Nearly half of UK pension funds are either already, or are considering, investing in hedge funds, according to a survey by UniCredito’s Pioneer Alternative Investments.
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E1.2bn county council Warwick revamps
UK - The 800 million-pound (1.18 billion-euro) Warwickshire County Council Pension Fund has reshuffled its asset managers in a revamp.
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European fund managers turn bearish - survey
GLOBAL- European fund managers have succumbed to the same bearishness as their colleagues worldwide, Merrill Lynch’s monthly survey of fund managers has found.
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Italy: retirement claims fall after tax change
ITALY - The number applications to retire has dropped by nearly 10% in the first six months of 2004 following the introduction of a 33% tax-free bonus for older employees who chose to keep working.
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Hermes names new management team
UK – David Pitt-Watson, managing director of Hermes Pensions Management’s UK Focus Fund, is to take over from Peter Butler after his resignation on Tuesday.
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AP2 eyes derivatives for portfolio rebalancing
SWEDEN - The 140.4 billion-crown (15.3 billion-euro) second Swedish national pension fund, Andra AP-fonden or AP2, is considering using derivatives “for portfolio–rebalancing purposes”.
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AMF Pension returns 4.3% in first half
SWEDEN- The 210 billion-crown (22.8 billion-euro) pension provider AMF Pension has reported a return of 4.3% in the first half of the year - compared with last year’s first half result of 5.8%.
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TKP Pensioen boosts Aegon earnings
NETHERLANDS – Aegon’s first-half earnings have been boosted by its TKP Pensioen pension administration arm.
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Dutch funds’ Harcourt in German hedge move
GERMANY - Commerzbank’s Cominvest Asset Management and Dutch pension-fund-owned Harcourt Investment Consulting are planning to launch a fund of hedge funds in the second half of the year.
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Gartmore names institutional chief
UK - Gartmore Investment Management has named Invesco UK’s Angus Woolhouse as head of business development for its global institutional and alternative investments business, spanning the US, Europe and Japan.
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Medical society taps State Street for custody
UK - The Medical Protection Society Ltd. has awarded State Street a custody and transition management services brief and has retained its asset management arm for its 460 million-pound (688.7 million-euro) portfolio.
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Punter Southall opens Glasgow office
UK - Actuarial consultancy Punter Southall & Co. has opened an office in Glasgow run by ex-Hazell Carr Pensions Consulting staffers Ann Marie Dickson and Andy Thomson.
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Germany’s Spezialfonds market up 5% - BVI
GERMANY - The German investment fund industry association says said the volume of funds reserved to institutional investors, Spezialfonds, has grown about five percent since last year, boosted by positive markets.
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French SRI market enters maturity – Novethic
FRANCE - The French Socially Responsible Investment market has entered a “first phase of maturity” after recording 75% growth in 2004, said Caisse de Depots subsidiary Novethic.
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SEI names European institutional sales director
EUROPE - SEI Investments named 10-year company veteran Greg Rodgers to the new role of director of institutional sales for continental Europe.
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IPE-QUEST: Pensioenfonds Metaal tenders 2 briefs
BELGIUM -Pension Fund for Metal-working and Mechanical Engineering workers, Pensioenfonds Metaal, has tendered two active specialist mandates through IPE-Quest.
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Germany’s Ruerup sceptical on Austria reform
AUSTRIA - Bert Ruerup, who headed Germany’s pension reform commission, has said Austria’s special pension regulations for workers with heavy manual jobs violated “the spirit of national insurance”.
