Investor Strategy – Page 185
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Hewitt Associates chief executive Gifford exits
GLOBAL – Dale Gifford, chairman and chief executive of pension consulting and human resources firm Hewitt Associates, is to retire at the end of the year.
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Man Group limits hedge funds in own scheme
UK – Man Group, the world’s largest listed hedge fund group, is limiting the hedge fund allocation in its own pension fund on the advice of Watson Wyatt, says chief executive Stanley Fink.
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PensionDanmark starts real estate project
DENMARK – PensionDanmark today began building apartments in Måløv, near Copenhagen, that will be ready for occupation at the end of 2007.
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Ex-CalPERS’ McCook joins new firm
REAL ESTATE - Mike McCook, the former senior investment officer for real estate at the California Public Employees Retirement System, has found new employment. (This article first appeared on IPERealEstate.com.)
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FRR explains reasoning for avoiding hedge funds
FRANCE - The FRR, the €27.7bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has explained why it will not be investing in hedge funds as part of its new strategic asset allocation which features a shift towards 'alternative' assets.
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Hewitt considers raising stake in German venture
GERMANY – Hewitt Associates is considering raising its minority stake in the BodeHewitt joint venture it launched almost a year ago with Bode Grabner Beye.
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Italy’s Prevedi seeking asset managers
ITALY - Prevedi, the complementary pension fund for employees in the industrial and building companies is looking for up to four asset managers to manage its €24m portfolio.
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Citigroup, LGIM in pooling tie for Dutch schemes
EUROPE – Citigroup’s Global Transaction Services arm has created a pension pooling structure using an Irish common contractual fund vehicle for the Dutch pension fund clients of Legal & General Investment Management.
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ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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Nordrheinische doctors fund taps GSAM for GTAA
GERMANY – Nordrheinische Ärtzeversorgung (NAEV), a €7.5bn pension fund for physicians, has awarded Goldman Sachs Asset Management a global tactical asset allocation mandate worth €60m.
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France’s new Natixis to be €534bn heavyweight
FRANCE - After two and half months of discussion, Caisse d’Epargne and Banque Populaire yesterday signed an agreement to merge their investment subsidiaries Natexis and Ixis - creating France’s second largest funds management company with assets of €534bn.
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Norwegian government fund excludes Wal-Mart
NORWAY – US retailer Wal-Mart is being excluded from the Norwegian Government Pension Fund – Global’s investment universe because of alleged serious and systemic human rights violations.
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CSAM Germany gets new chief investment officer
GERMANY - The German arm of Credit Suisse Asset Management has promoted Stefan Keitel as its new chief investment officer.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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SEI names Benelux client service director
BENELUX – SEI Investments has named Fortis Investments’ Peter in de Rijp as its new client service director for Benelux.
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Dutch rail fund questions real estate boom
NETHERLANDS - Dutch pension funds will ditch bricks for funds, according to Peter van Gool, deputy director of real estate at Dutch pension fund SPF Beheer.
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Watson Wyatt hires Aon’s Yakoubov
UK – Watson Wyatt Worldwide says it has hired Yakoub Yakoubov from rival Aon Consulting.
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Debate over UK university fund rages in press
UK – Debate over the coverage of the Universities Superannuation Scheme’s asset allocation continues to rage in the letters pages of the financial press.
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Swiss Life names Dutch asset management CIO
NETHERLANDS - Pension insurer Swiss Life has named Gerard Sirks as chief investment officer of its Dutch arm Zwitserleven, it announced.
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IPE Real Estate Awards: the winners
REAL ESTATE - Pension funds’ adoption of new models for new markets paid off at the IPE Real Estate Awards last night as investors collected prizes for geographical diversification and the move into indirect investment.
