All articles by Daniel Brooksbank – Page 197
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Northern Trust cuts 700 jobs to reduce costs
US – Northern Trust has cut 700 jobs as part of a drive to reduce annual operating expenses by 145-150 million dollars.
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EU says Netherlands able to meet ageing costs
NETHERLANDS – The European Commission says that the Netherlands is in a “relative good position” to meet the costs of ageing, based on current policies.
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Luxembourg UCITS data available online
LUXEMBOURG – Luxembourg UCITS data will soon be available online following a “strategic alliance” between via FT Interactive Data and UCITS data supplier CCLux.
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State Street declines comment on Schwab report
US – State Street has declined to comment on a report that it is set to sell the wealth management arm of State Street Global Advisors to Charles Schwab.
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STOXX must rebalance to pip FTSEurofirst - report
EUROPE – J P Morgan says the STOXX index needs to enlarge to 90 stocks to compete with the new FTSEurofirst index before it gets going.
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Honeywell appoints J P Morgan for measurement
UK – The trustees of the 606 million euro UK pension scheme of automation and control systems company Honeywell have appointed J P Morgan Investor Services to provide performance measurement and analytical services.
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Winterthur cuts Swiss retirement benefits
SWITZERLAND – Credit Suisse’s life and pensions arm Winterthur has cut the amount it will pay out to Swiss beneficiaries in a revamp that it says will put employee benefits on a more sustainable footing.
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KPMG report sees manager-consultant tension
GLOBAL – A new report from KPMG has revealed the tensions that exist between investment managers and pension consultants.
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Pension reform window still open say EU leaders
GREECE – European Union leaders say the “demographic window of opportunity” for pension reform is still open.
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Goldman Sachs AM loses E6.8bn in British Coal revamp
UK - The 10 billion pound (14 billion euro) British Coal Staff Superannuation Scheme has withdrawn 4.8 billion pounds (6.8 billion euros) from Goldman Sachs Asset Management -but says GSAM remains a "favoured manager".
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US Fed study: pensions distorted stock prices
US – A study by two economists at the US Federal Reserve has found that “pension-induced valuation errors” distorted US stock prices in the late 1990s stock market bubble.
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Robeco’s investment chief Jaap van Duijn to retire
NETHERLANDS – Robeco has named Marnix Vriezen as its new chief investment officer for Europe, replacing Jaap van Duijn who is retiring.
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Deutsche Bank in European hedge fund index deal
UK – Deutsche Bank has signed a distribution deal with Hedge Fund Research Europe, under which the bank will be able to offer products based on the HFRX Indices to European institutional and retail investors.
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Supranational seeks hedge FoF via IPE-Quest
GLOBAL – A supranational is looking for a hedge fund of funds strategy with a conservative overall approach via IPE-Quest.
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Nestle seeks portfolio manager for Swiss fund
SWITZERLAND – The six billion Swiss franc (3.8 billion euro) Swiss Pension Fund of food group Nestle says it is looking to recruit a Portfolio Manager, Modeling.
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Investment consultant named to AP2 board
SWEDEN – The government has named investment consultant Märtha Josefsson to the board of the 12.8 billion-euro second Swedish national fund Andra AP-fonden.
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Pension executive joins Janus as COO
US – Asset manager Janus Capital Group has named a US pension executive as its new chief operating officer and said it is still looking for a chief investment officer.
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IPE.com nears one million “hits”
EUROPE – IPE.com is getting close to recording one million article views, or “hits”, and there’s a prize for the millionth reader.
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Finnish welfare state facing “demographic shock”
FINLAND – The resources of the Finnish welfare state are under pressure from a rapidly ageing population, says the International Monetary Fund.
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Former Putnam investment head to leave
GLOBAL – Tim Ferguson, the former head of investments at Putnam Investments, is to leave the firm at the end of this month.
