All articles by Cecilia Valente – Page 42
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Italy puts money into Espero teachers’ fund
ITALY - The Italian government is to put up to around three million euros a month into the Espero educational pension scheme, the head of the scheme said.
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Italy may regulate E30bn pre-reform pension funds
ITALY- The president of the Italian pension regulator Covip says the Ministry of Economy is to extend regulations to the 510 pension funds – worth 29.8 billion euros – that were set up before the 1993 Dini reform.
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Dutch catering fund taps Western for bonds
NETHERLANDS - The 1.6 billion-euros pension fund for the Dutch catering industry, Horeca & Catering, has awarded a 100 million-euro global fixed income mandate to Western Asset Management.
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Watson Wyatt hires Citigroup’s Armstrong
UK – Watson Wyatt LLP has hired Citigroup Asset Management’s European marketing director Jane Armstrong as head of marketing for its investment practice, a new role.
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Railpen chief executive Peter Murray to retire
UK – Peter Murray, chief executive of the 13 billion-pound (19.5 billion-euro) Railway Pension Trustee Company, is to retire in May.
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Nestle fund raises hedge fund allocation
SWITZERLAND – The 6.2 billion Swiss-franc (3.8 billion-euro) Nestle Fonds de Pension, one of the largest Swiss pension funds, has increased its hedge fund allocation from 15% to 18%.
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Italy's E1m Fopadiva seeks asset managers
ITALY- Fopadiva, the one million-euro closed pension fund for employees in the Valle d’ Aosta semi-autonomous region, is seeking up to two asset managers for a balanced mandate.
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Watson Wyatt names Aon’s Witt as Munich manager
GERMANY - Watson Wyatt has appointed Jens Witt of Aon’s German consulting subsidiary to the new position of managing consultant for its Munich office as it expands in Germany.
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Other funds seen following BT hedge lead
UK – Other pension funds might follow the example of the BT Pension Fund, which has allocated 500 million pounds (750 million euros) to hedge funds over the next two to three years.
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Towers Perrin Belgian MD joins Watson Wyatt
BELGIUM – The managing director of consulting firm Towers Perrin’s Belgian office, Fred Letourneau, has joined Watson Wyatt in Canada.
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Lane Clark hires from KPMG to start outsourcing
UK – Actuarial consulting firm Lane Clark & Peacock has hired KPMG’s Nick Phizackerley and Antonella Sferrino as managing consultants to launch an outsourcing consultancy.
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Somerset taps Standard Life for equities
UK - The 652 million-pound (979.8 million-euro) Somerset County Council Pension Fund has selected Standard Life Investments to manage a segregated specialist UK equity portfolio valued at around 175 million pounds.
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ABP hires medical scheme’s Chaillet
NETHERLANDS – The 150 billion-euro Dutch civil service pension scheme ABP has named Louis Chaillet, head of investments at medical industry fund SBA, to the newly created position of senior controller.
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Austria’s BVP awards convertible bonds to MSIM
AUSTRIA – Austrian multi-employer pension fund BVP Pensionskassen has awarded a 30 million-euro convertible bond mandate to Morgan Stanley Investment Management, a type of investment new to the fund.
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St. James’s awards custody to State Street
UK – St. James's Place, the wealth management firm with eight billion pounds (6.5 billion euros) under management, has awarded State Street Corp. a custody and fund accounting mandate.
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Denmark’s FSP awards E41m to Russell
DENMARK - The 16 billion-crown (2.21 billion-euro) pension fund of the Danish financial sector, Finanssektorens Pensionskasse has awarded two equities and a hedge fund- of-funds mandates to Russell.
