All articles by Cecilia Valente – Page 36
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German premiums to rise in '05
GERMANY- The German Insurance Association confirmed said contribution rates for individual pension plans were likely to rise next year due to longer life expectancy and this could hit the number of savers.
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Multinationals preferring pooled funds
GLOBAL - Moving pension provisions into pooled funds is a growing trend among multinational companies' pension funds in Europe, according to Kerry Ann White, ABN AMRO Mellon’s head of multinational product development.
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Insight makes third structured products hire
UK- Insight Investment Management, the asset management arm of HBOS, has hired Takis Antastassopoulous from consultancy Quant Technology as senior portfolio manager on structured products and index funds.
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SEB creates the Commercial Real Estate division
GERMANY - Financial banking group SEB is bringing together the real estate business of its Scandinavian Corporate and Institution Division and of its German subsidiary SEB AG Group to better target German investors.
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Italy's Priamo fund opens its first tenders
ITALY- The recently-authorised Italian pension fund for public transport workers, Fondo Priamo, estimated to be worth more than €30m, has put out its first request for tenders to fund managers.
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State Street buys out Mediolanum from their JV
ITALY- State Street Global Advisors has bought out Italian insurer Mediolanum SpA’s 50% stake in their fund management joint venture after a difference in strategies.
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Russia considering reforms to 2002 Pension Act
RUSSIA - A top Italian economist who has written a World Bank- sponsored report on Russia has said the 2002 pension reform needed mending and the Putin administration seemed to be “rather aware” of the need for changes.
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Merrills says fund managers are obsessed with inflation
GLOBAL - Fund managers’ concerns about high global inflation driven by commodities and wages “ are verging on the obsessive,” according to David Bowers Merrill Lynch’s chief global and European equity strategist.
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Sweden's AP1 hires head of external management
SWEDEN- The 140 billion crowns (15.2 billion euros) buffer fund AP Foersta Fonden, the First Swedish National Pension Fund, has appointed SEB Asset Management’s Rikard Kjoerling to the new position of head of external management.
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Publica to continue early retirement option
SWITZERLAND- The Bundesrat, or upper chamber, of the Swiss parliament is to keep the early-pension option for government employees in the 28 billion Swiss francs (18 billion euro) Publica pension fund by imposing benefit cuts or contribution increases.
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Credit Suisse appoints Tochtermann
SWITZERLAND - Credit Suisse Asset Management (CSAM) has appointed Daniel Tochtermann as director and head of international real estate products targeting Swiss institutional investors.
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Swiss MPs expected to ease pensionskassen limits
SWITZERLAND - The Swiss lower chamber is expected to endorse on Monday a proposal to allow pensionskassen in financial trouble to lower the minimum interest rate by a maximum of 0.5% below the fixed 2.25%.
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EFRP’s Wittemann joins PWC in Amsterdam
NETHERLANDS – The European Federation for Retirement Provision’s Marie-Christine Witteman has joined PricewaterhouseCoopers.
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Swiss MPs vote to use gold for pensions
SWITZERLAND - The lower chamber of the parliament has voted to endow the Swiss first pillar with half of the proceeds from the Swiss National Bank’s sale of 1,300 tons of gold.
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AP7 names new fund management head
SWEDEN - The five billion-euro Sjunde AP-fonden, the seventh Swedish national pension fund, has hired ABN Amro’s Fvante Linder as head of fund management.
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IPE-QUEST- Belgian fund tenders hedge funds
BELGIUM - A Belgian pension fund has tendered a 25 million-euro hedge fund mandate for up to three managers via IPE-Quest.
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IPE-QUEST: Skandia tenders currency brief
SWEDEN – Insurer Skandia Liv has tendered a 300 million-dollar (247.6 million-euro) global developed markets pure currency alpha mandate through IPE-Quest.
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IPE-QUEST: German fund tenders small-caps
GERMANY - A German pension fund has tendered a 50 million-euro actively managed pan-European core small-cap equities mandate through IPE-Quest.
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ABN Amro Mellon to open London trustee arm
UK - ABN Amro Mellon says it is going to open a trustee and depositary services practice in London by the end of the year.
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Jobs go as HP outsources Dutch scheme to Hewitt
NETHERLANDS - Hewitt Associates’ Dutch arm is to administer the 450 million-euro Hewlett-Packard Netherlands pension fund, the fund’s administrator said.
