Investor Strategy – Page 186
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PPM tenders performance evaluation
SWEDEN - Sweden’s Premium Pension Authority, PPM, is seeking a consultant for, among other things, performance evaluation of its external asset managers.
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Novartis pension fund returns 6.2%
SWITZERLAND – Novartis’ pension fund, one of Switzerland’s biggest with CHF14.6bn (€9.3bn) in assets, has reported a return of 6.2% for 2005 - well below the 11% average for other Swiss schemes.
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USS mulls €8.7bn switch from equities – FT
UK – The Universities Superannuation Scheme is considering a £6bn (€8.7bn) shift out of equities into alternative assets such as private equity and infrastructure investments, according to a news report.
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MLIM nabs Henderson institutional’s Davies
UK - Merrill Lynch Investment Managers has hired Henderson Global Investors client relationship head Gareth Davies.
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Swiss teachers fund BLVK rejects legal action
SWITZERLAND – The CHF4.6bn (€2.95bn) Berne teachers pension fund BLVK says it won’t take legal action against those deemed responsible for its financial woes – despite calls from members.
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Russell unveils upgraded web pension tools
GLOBAL - Russell Investment Group has unveiled the next generation of its web-based services for institutional clients.
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FIM Asset Management hires two from Nordea
FINLAND – FIM Asset Management has hired two executives from Nordea, with Petri Aho becoming head of international sales and Jouni Salmenkivi head of fixed income.
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Reuters injects €336m to cut pension deficit
UK – News and information group Reuters is to inject a total of £230m (€336m) into its pension funds to help eradicate a £265m deficit.
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German corporate pension assets rise 4.1%
GERMANY – Corporate pension assets in Germany totalled €381bn at the end of 2004, up a moderate 4.1% from €366bn a year earlier, according to the statistics from German occupational pensions association Aba.
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NAPF’s Ellison to chair IPE Real Estate event
NETHERLANDS – National Association of Pension Funds chairman Robin Ellison is to chair IPE Real Estate’s Investor Forum & Awards in Amsterdam on June 1.
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Skandia case’s Bexhed steps down
SWEDEN – Skandia’s Jan-Mikael Bexhed, who steered a prominent pan-European pensions test case through the European Court of Justice, is stepping down as general counsel at the company.
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Mercer sees growth in lifecycle fund providers
GLOBAL – The number of lifecycle fund providers is likely to increase “significantly” in the future, according to a Mercer Investment Consulting research report.
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Morley launches real estate trading facility
REAL ESTATE - Morley Fund Management has unveiled a UK “trading facility” for its own unlisted real estate funds. (This article first appeared on www.iperealestate.com)
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German Spezialfonds grow by €46bn – BVI
GERMANY – Investor inflows to German institutional funds (Spezialfonds) in the year to March 31 totalled €46bn, helping to bring the total volume of these funds to €635bn, according to German fund industry association BVI.
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FTSE research director Beckley departs
GLOBAL – FTSE Group’s research and development director Carl Beckley is leaving the index provider after almost eight years to join Record Currency Management.
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Netherlands’ de Geus rejects taxation of AOW
NETHERLANDS - Social affairs minister Aart Jan de Geus says he rejects the opposition Labour Party’s proposal to tax the AOW state pension.
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UK’s Kent County Council rejigs manager roster
UK - The roughly £2.3bn (€3.4bn) Kent County Council pension scheme has axed Goldman Sachs Asset Management from a roughly £350m UK and overseas equities mandate amidst a strategic asset reshuffle at the scheme.
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Barclays Global Investors’ ETF head Lavine exits
EUROPE – Bruce Lavine, head of Europe at Barclays Global Investors’ iShares exchange-traded funds arm, has left.
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Insight, Russell team up to offer LDI
UK – Insight Investments and Russell Investment Group have teamed up to offer customised liability-driven investment solutions to mid-sized UK pension funds.
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Dutch minister: don’t blame me for FTK impact
NETHERLANDS – Dutch social affairs minister Art Jan de Geus says he takes no responsibility for the impact on pension funds’ asset allocation following the new Financial Assessment Framework (nFTK).
