All IPE articles in December 2006 (Online) – Page 5
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News
Threadneedle hires FERI’s Roll for Germany
GERMANY – Threadneedle Investments has recruited Oliver Roll from German investment consultant FERI as its new head of institutional business for Germany, IPE has learned.
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ABP, SSGA expand alliance with $1.1bn
GLOBAL – Stichting Pensioenfonds ABP and State Street Global Advisors have expanded their State Street Global Alliance partnership with an extra $1.1bn (€830m).
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ABP scales down stake in real estate group
NETHERLANDS - The €201bn civil service pension fund ABP has decreased its majority stake in real estate group Vesteda to 46.7%, Vesteda said.
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BGI outsourcing with JP Morgan complete
UK – Barclays Global Investors has completed its European investment outsourcing arrangement with JP Morgan Worldwide Securities Services.
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British Steel fund gets sweeter offer
UK – The pension fund of steelmaker Corus is to get more cash under a new offer for the company from Brazil’s CSN.
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New Dutch flower sellers’ pension fund launched
NETHERLANDS - A new industry-wide pension scheme for the Dutch flower sellers has been established, pensions provider AZL has announced.
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Groupe expects changes to assumptions under IORP
EUROPE – The Groupe Consultatif Actuariel Européen says it expects to see “significant” changes in the way discount rates and other pension fund assumptions are determined under the occupational pension fund directive.
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Faros passes €40bn mark (Correct)
GERMANY – Faros Consulting, the Frankfurt investment consultant launched three years ago, says it has surpassed the €40bn mark in terms of the volume of institutional assets under advice (Deletes incorrect mandate reference).
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PGGM in loan portfolio deal with ABN Amro
NETHERLANDS – The €80bn Dutch healthcare and social work pension fund PGGM has entered a partnership with ABN AMRO in which both share the risk related to the bank’s loan portfolio.
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FRR executive board chairman Mayer dies
FRANCE – Francis Mayer, chairman of the executive board at the €29bn Fonds de Réserve Pour les Retraites and chief executive of the Caisse des Dépôts, the French civil servants’ fund, has died aged 56.
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SocGen names Spain investor services head
SPAIN - Société Générale Securities Services has named Paloma Pedrola as its new head of investor services, Spain.
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New investment advisory firm set up
UK - A new investment advisory business has been set up to help mid-size companies cut their pension deficits.
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Four AP funds award combined SRI brief
SWEDEN – A joint socially responsible investing tender from four Swedish buffer funds (AP1, AP2, AP3 and AP4), with assets in excess of €80bn, has been awarded to GES Investment Services.
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Another consultant to leave Complementa
SWITZERLAND – Erich Züger, investment controller at Swiss pension consultant Complementa Investment-Controlling, will leave the company in January.
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IBM helped to steal pension money, Russia says
RUSSIA – Special investigation teams have raided the offices of IBM, the Russian Pension Fund and two Russian computer companies in connection with allegations of embezzlement of pension money.
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Robeco names fund-of-hedge funds CEO
GLOBAL – Robeco, the asset management arm of Rabobank, has named Michael Abbott as chief executive of its fund of hedge funds group Robeco-Sage Capital.
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Nestlé launches pension advisory group
EUROPE – Nestlé, the Swiss food group, has confirmed the January 1 launch of a new pension advisory unit and a new asset management unit to serve its pension schemes worldwide.
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Consultants, clients concerned over BoNY-Mellon
GLOBAL – The merger announced this week by custody providers Bank of New York and Mellon Financial Corp. has been greeted with concern by consultants, pension fund clients and industry insiders.
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Amicus sees DB/DC template for Bank of Ireland
IRELAND – A deal on the creation of a hybrid DB/DC at the Irish Life & Permanent TSB bank might be a model for resolving the Bank of Ireland dispute, the union Amicus says.
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Threadneedle names global head of consultants
GLOBAL - Threadneedle Investments has named Morley’s Angus Scrace as global head of consultants and investment specialists, a new role.
