All articles by Daniel Brooksbank – Page 210
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UK teachers’ pension scheme in technology move
UK – The UK’s second largest pension fund, the Teachers Pension Scheme, is to get access to a range of mobile technology via an outsourcing deal with services firm Capita Group.
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Scandinavian fund in $50m mandate via IPE-Quest
EUROPE – A Scandinavian pension fund is seeking a manager or managers for 50 million dollars in European equities.
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Fund manager Prosperity eyes Russian mandates
RUSSIA – Moscow-based fund manager Prosperity Capital Management says it will target mandates from the new Russian defined contribution pension scheme.
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Custody now 25% of Deutsche Boerse revenue
GERMANY – Stock exchange group Deutsche Boerse says its acquisition on Clearstream International means that 25% of its revenue now comes from custody.
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Fitch enters debate on pensions deficits rating
EUROPE – Ratings agency Fitch has entered the debate on whether the size of pension deficits should affect companies’ credit ratings.
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S&P says pensions to hit profits at BAE
UK – Ratings agency Standard & Poor’s says that defence equipment firm BAE Systems’ profitability and cash flow are to be hit to “a significant extent” by its pension problems.
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Auditors slam EU’s e74m invalidity pension scheme
LUXEMBOURG – The European institutions’ invalidity pension scheme has been criticised by auditors, who say there are shortcomings in the system and “frequent and costly delays”.
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Spanish pension funds grow 5.2%
SPAIN – Spanish pension fund assets rose by a total 5.2% to 59.6 billion euros at the end of 2002 – according to a report by insurance association Unespa.
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Scottish Widows investment chief resigns
UK – The chief investment officer of Scottish Widows Investment Partnership has resigned.
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PGGM and USS in emerging markets drugs plea
EUROPE – Dutch healthcare and social services pension fund PGGM and the UK’s Universities Superannuation Scheme education fund are among 12 institutions calling on drugs firms to make medicines more accessible in emerging markets.
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Ex-Deutsche pensions chief leaves NY post
US – The former head of Deutsche Bank’s European pensions strategy group, Desmond MacIntyre, has left his new post in the New York City Comptroller’s office in an “amicable” departure.
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Hedge Fund Research launches investable index
GLOBAL – Chicago-based Hedge Fund Research is to offer a set of investable hedge fund indices to institutional and retail investors from March 31.
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J P Morgan wins $12bn ISIS custody mandate
UK – J P Morgan Investor Services has won a 12 billion dollar custody mandate from ISIS Asset Management.
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UK Pensions Management Institute names president
UK – The Pensions Management Institute has named Roger Cobley as president to take over from Ian Eggleden in July.
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Massey Ferguson in pension appeal
UK – The US owner of tractor firm Massey Ferguson is to appeal against a UK court ruling that full pensions must be paid to staff who have been fired or retired early.
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EU “missing older workers target” - Solbes
BELGIUM – The European Commission says the European Union is a long way from achieving its target of 50% employment among 55-64 year-olds.
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European heads back pensions directive
BELGIUM – European heads of government have backed the Pensions Fund Directive – calling for it to be adopted by the end of the year.
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SEI names Dasher as Europe head
EUROPE – US-based asset manager SEI Investments has named Karl Dasher as its new Continental Europe managing director.
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Actuaries see “disturbing” UK final salary data
UK – The Association of Consulting Actuaries says that almost three-quarters of UK final salary pension schemes are now closed to new entrants – a state of affairs it calls disturbing.
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Ex-Boots pension chief sets up consultancy
UK – The former head of corporate finance at retailer Boots - the man responsible for the company pension fund’s controversial move into a long bond portfolio – is to set up his own consultancy firm.
