All articles by Daniel Brooksbank – Page 170
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SWIP names Bolton as head of European equities
UK - Scottish Widows Investment Partnership has named Nigel Bolton as head of European equities.
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UK funds return 14.1% in 10 months - HSBC
UK – New data from HSBC Actuaries and Consultants puts UK balanced pooled pension funds’ average return at 14.1% for the first 10 months of 2003.
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ABN Amro boosts currency overlay team
GLOBAL – ABN Amro says it has hired James Binny as director of FX analytics and risk advisory for Europe as it responds to increased currency overlay demand from pension funds.
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ECB says pension funds’ shift to bonds continues
EUROPE – The European Central Bank says pension funds and insurers in the euro area are still shifting out of equities and into fixed income and mutual funds.
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Irish regulator signals more flexible stance
IRELAND – The Pensions Board has relaxed its stance on pension funding – a move the Irish Association of Pension Funds has welcomed.
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Watson Wyatt names head of UK investment strategy
UK - Watson Wyatt has appointed Chris Ford to the new role of head of investment strategy in the UK following a three-year secondment in the US.
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Pictet says it plans to open Paris office
FRANCE – Pictet says it plans to open a branch office in Paris on January 5.
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Somerset awards E143m in fixed income to F&C
UK – The 600 million-pound (867 million-euro) Somerset County Council Pension has awarded a 100 million-pound (143 million-euro) UK fixed income mandate to F&C Management.
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AP1 hires Mercer, ORTEC/Towers Perrin
SWEDEN – The first Swedish buffer fund the 127 billion-crown (13.7 billion-euro) AP1 has tapped Mercer and ORTEC/Towers Perrin as strategic advisors.
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Norway’s Petroleum Fund “not enough” - IMF
NORWAY – The International Monetary Fund says Norway’s 803 billion-crown (99.4 billion-euro) Petroleum Fund “will not be enough” to cover future pension needs.
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State Street hires former Xerox pensions chief
UK – State Street Corp. has hired Tony Phillips, the former director of pensions at Xerox, to be head of its London-based consultant management team.
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Scandinavian fund tenders E326m via IPE-Quest
SCANDINAVIA – A Scandinavian pension fund has tendered a mandate for around 400 million dollars (326.7 million euros) in North American equities via IPE-Quest.
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UK’s Brown mulls real estate investment trusts
UK – Chancellor Gordon Brown says he plans to consult on ways to encourage real estate investment trusts.
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Former CalPERS chief hails UK gold listing
UK - James Burton, the former chief executive of CalPERS who now runs the World Gold Council, has hailed the first day of dealing in a new gold stock aimed at institutional and retail investors.
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Linde taps Mercer for UK investment consulting
UK – German industrial group Linde – in the news over the treatment of pension liabilities by ratings agencies - has appointed Mercer Human Resource Consulting in the UK.
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Grafische Bedrijfsfondsen names new chief
NETHERLANDS – The 6.4 billion-euro pension fund for the Dutch printing industry, Stichting Pensioenfonds voor de Grafische Bedrijfsfondsen, has named Paul van Leeuwen as its new general director.
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Marsh & McLennan, CalPERS in spat over Putnam
US – Marsh & McLennan has hit back at CalPERS’ claims that the market timing problems at its Putnam Investments arm are Enron-like, saying the claim is “outrageous”.
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Gartmore says it boosts US equities team
UK – Gartmore Investment Management has hired Gil Knight as vice president, senior portfolio manager, to boost its US equities team.
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Northern unveils trade analysis for institutions
GLOBAL – Northern Trust has unveiled an automated trade execution monitoring tool for institutional clients - Trade Execution Analysis.
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ABN Amro sees Dutch funds’ bond shift
NETHERLANDS – ABN Amro expects Dutch pension funds to move to a higher bond allocation – driven by regulatory factors and the change to a fair discount rate.
