Investor Strategy – Page 188
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French reserve fund re-tenders transition broking
FRANCE – The FRR, the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has re-tendered a €16bn transition broking brief it awarded to Goldman Sachs less than two years ago.
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Pension fund FX trading surges – Greenwich
GLOBAL – Pension fund and asset manager activity in the global foreign exchange market grew 48% last year according to consulting firm Greenwich Associates.
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Call for streamlined Dutch pension supervision
NETHERLANDS – A Dutch MP has called for the dual supervision of the pensions industry – by the central bank and the AFM market authority – to be scrapped.
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Dutch government denies FTK delay
NETHERLANDS – A spokesperson for the Dutch social affairs ministry has flatly denied market rumours that the new Financial Assessment Framework for pension funds had been delayed again.
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AP4 to go passive for emerging markets
SWEDEN – The SEK180.2bn (€19.2bn) Fourth Swedish National Pension Fund, or AP4, is “likely” to use a passive rather than active approach when it invests 3% of its assets in emerging market equities.
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Schroders in US outsources €2.4bn to Bank of NY
GLOBAL – Schroders’ North American arm has outsourced investment operations for $3bn (€2.4bn) in assets to the Bank of New York.
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Slovenia pension manager KAD reports profit
SLOVENIA – The supervisory board of the state-run €1.18bn Pension Fund Management, or Kapitalska Druzba (KAD), has reported a SIT15bn (€62m) net profit result for 2005.
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Dutch funds buy into UK private equity firm
UK - The two largest Dutch pension funds, ABP and PGGM, have put an undisclosed sum into private equity firm West Private Equity via their AlpInvest vehicle.
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EU raps 11 member states over pension directive
EUROPE – The European Commission has ratcheted up the pressure on 11 member states it says have not fully implemented the occupational pension funds directive.
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Ageing driving European life insurance – CEA
EUROPE – The European life insurance market’s growth to a record turnover is due in part to changing demographics, says European industry group the Comité Européen des Assurances.
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ABN Amro’s Fernandes joins Citigroup
UK – Francis Fernandes, the former Lane Clark & Peacock partner who joined ABN Amro two years ago, has now quit to join Citigroup’s pensions advisory group in London.
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DNB warns on pressures over new pension law
NETHERLANDS – The Dutch central bank has warned there will be time pressure on pension funds if the new Pension Law is not passed by Parliament before the summer.
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Philips scheme in Amsterdam real estate buy
REAL ESTATE – The Philips Pension Fund has acquired Amsterdam Symphony, a real estate project in Amsterdam’s main new real estate project called Zuid As (This article originally appeared on www.iperealestate.com).
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ING IM providing ALM, asset allocation to schemes
EUROPE – ING Investment Management is performing asset liability modelling and asset allocations for European pension funds, says chief executive Angelien Kemna.
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Pension funds, managers buy new bond system
UK – Portfolio analytics provider StatPro says institutional investors such as pension funds and asset managers are showing a lot of interest in its new fixed income system.
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European institutions snap up new Finnish IPO
FINLAND – Just over 100 European institutional investors have snapped up the shares in Finnish financial services firm FIM Group’s new initial public offering.
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Barclays scheme puts €281m into emerging markets
UK – The Barclays UK Pension Fund has put £195m (€281m) into an emerging market debt mandate, according to BlueBay Asset Management.
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Germany’s BVV eyes real estate, private equity
GERMANY – BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity.
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IVG to offer schemes custom real estate vehicles
REAL ESTATE - Bonn-based IVG Immobilien is to target pension funds with bespoke vehicles invested in non-listed real estate – in addition to its growing portfolio of closed-end core, opportunistic and development funds (This story originally appeared on IPERealEstate.com).
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Italy’s Previcooper seeking asset managers
ITALY – Previcooper, the €73m supplementary second pillar pension for employees of Italy’s co-operative distribution industry, is looking for asset managers for the ‘Safe’ portfolio of its ‘multicomparto’ structure.
