Investor Strategy – Page 192
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News
PGGM’s Noordzij to get €500k severance deal
NETHERLANDS – Karel Noordzij, who unexpectedly quit as chairman at €71bn Dutch health care fund PGGM today, will get a severance package worth more than €500,000.
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FRR tactical asset head Morel joins Natexis
FRANCE – Christophe Morel, head of strategy and tactical asset allocation at the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has been appointed tactical asset allocation chief at Natexis Asset Management.
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MN Services names fiduciary head
NETHERLANDS – MN Services has appointed Philip Jan Looijan as fiduciary management chief of MN Services Investment Management and member of the investment management team from April 1.
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BGI introduces Sudan divestment strategies
US - Barclays Global Investors has launched index strategies to help US pension funds to comply with new rules requiring them to divest of companies with ties to Sudan.
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Dutch doctors’ fund interim CIO moves on
NETHERLANDS – Ton Groeneveld, interim chief investment officer at Doctors Pension Funds Services, has left following the appointment of permanent CIO Jan Willem Baan.
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Hewitt opens human resources centre in Poland
POLAND – Hewitt Associates has announced the opening of a 300-person human resources outsourcing centre in Krakow, Poland.
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Hewitt CEO sees industry consolidation
GLOBAL – Dale Gifford, chief executive of Hewitt Associates, expects to see further consolidation in the human resources consulting and outsourcing industry in the coming years.
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Mercer hires three for Nordic expansion
LONDON – Mercer Investment Consulting has announced the expansion of its Nordic operations following three new senior hires.
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Xerox scheme taps PIMCO for LDI
UK – The roughly £1.3bn (€1.9bn) Xerox UK Final Salary Pension Scheme has awarded a £260m “cutting edge” liability-driven mandate to fixed income fund management firm, PIMCO.
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Hewitt launches specialist UK DC team
UK – Hewitt Associates has formed a new consulting team to provide retirement planning and investment strategy for defined contribution pension schemes.
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Dutch VB sees drop in premium revenues
NETHERLANDS – There will be a roughly 3% or €500m drop overall in premium revenues of Dutch industry-wide pension funds in 2006, according to the VB, the Dutch Association of Industry-wide Pension Funds.
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Lehman nabs Rubenstein for new pensions group
UK – Lehman Brothers has hired Alan Rubenstein, head of Morgan Stanley’s European pensions group, to launch a new pensions group.
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UK nuclear scheme tenders investment consulting
UK – The Nuclear Decommissioning Authority, the body charged with cleaning up the UK’s atomic energy industry, has tendered for investment consulting services for the proposed Nuclear Decommissioning Industry-wide Pension Schemes (or IWS).
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AP3 considering portable alpha
SWEDEN – Tredje AP-fonden, the roughly €20bn Third National Pension Fund/AP3, is currently brainstorming about portable alpha – although there is no guarantee it will be implemented.
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Up to 3,000 jobs go in Achmea-Interpolis merger
NETHERLANDS – Between 2,500 and 3,000 jobs are to go in the next three years as Dutch pension management firms Achmea and Interpolis merge.
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€10bn German public scheme VBL streamlines
GERMANY – The Versorgungsanstalt des Bundes und der Länder, a €10bn pension fund for public sector employees, plans to streamline its operations to boost efficiency.
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Ex-Hoogovens bond manager joins LODH
NETHERLANDS – Iwan Lont, former Stichting Hoogovens Pensionenfonds fixed income senior portfolio manager, has joined Lombard Odier Darier Hentsch & Cie (LODH) as a senior portfolio manager.
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ABP names Neal as equities CIO
NETHERLANDS – ABP Investments has named Edwina Neal as chief investment officer of equities and board member from March 1.
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Austrian funds returned 11.4% in 2005 - FVPK
AUSTRIA - Buoyed by strong equity markets, Austrian pension funds finished 2005 with an average return of 11.4% on assets, according to fund association FVPK.
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Changeover at F&C in Ireland
IRELAND - Ruth O'Briain, managing director of F&C Asset Management in Ireland, will shortly retire from the industry to be be succeeded by Mercer senior investment consultant and former F&C Irish business development head Grainne Alexander.
