Investor Strategy – Page 193
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MN Services’ treasury head joins Fortis
NETHERLANDS – Dennis van den Bosch, head of treasury at MN Services, is to join Fortis Merchant Banking as director of currency management.
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French institutions ‘using more consultants’
FRANCE – French institutional investors are now more likely to select their fund managers using external consultants – slowly mirroring the British institutional market, according to research by bfinance.
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Hampshire set to overhaul managers
UK – The £2.4bn (€3.5bn) Hampshire County Council Pension Fund is in the process of a complete managerial overhaul as part of a move towards a more specialist approach.
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Staffordshire appoints seven new managers
UK – The £1.8bn (€2.6bn) Staffordshire County Council Pension Fund has appointed six new equity managers and one bond manager following a management shake-up and structure review.
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Deutsche unveils €7bn outflows
GERMANY – Deutsche Bank’s asset management division, including private clients and institutions, was hit by €7bn in outflows during the fourth quarter of 2005.
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Ilmarinen real estate chief Kankuri exits
FINLAND – Ilmarinen Mutual Pension Insurance Co. has hired Esko Torsti to take over from real estate head Timo Kankuri.
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SG buys UniCredit securities services arm
ITALY - Société Générale Securities Services has bought UniCrédit’s securities services business 2S Banca for €548m, giving it an extra €455bn in custody assets.
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Measures to tackle ageing not enough - Barroso
EUROPE – European member states’ measures to tackle population ageing are “not equal to the task,” says European Commission president José Manuel Barroso.
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Environment Agency tenders €658m (updated)
UK – The roughly £1.3bn Environment Agency Pension Fund has put two mandates out to tender amounting to £450m (€658m). (Updated with new information)
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Record demand for Germany’s Riester pensions
GERMANY- Demand for the ‘Riester-Rente’, a government-subsidised private pension launched in 2002, hit a new record last quarter, pushing the total number of contracts for the pension to more than five million, according to German insurance lobby GDV.
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MetallRente records double-digit sales growth
GERMANY – MetallRente, the pension fund for employees in Germany’s metalworking and engineering industries, has recorded another year of double-digit growth in sales of its corporate pension.
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Merseyside scheme taps Mercer for advice
UK – The £3.6bn (€5.25bn) Merseyside Pension Fund has re-awarded two actuarial and investment advice contracts to Mercer Human Resource Consulting following a competitive tendering process.
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Janus, LGIM, AXA report asset inflows
GLOBAL – Asset management firms Janus, Legal & General Investment Management and AXA Investment Managers have reported billions of euros in asset inflows.
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Mercer mulls Europe launch for frozen DB service
EUROPE – Mercer Human Resource Consulting is seriously considering bringing its new service for US frozen defined benefit pension plans to Europe.
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Germany’s BVV fund names Aden to board
GERMANY – BVV, a €17.7bn pension fund for the German financial services industry, has appointed Helmut Aden to replace Christoph von Langsdorff on its two-member board.
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NAPF governance advisor Lindey to leave
UK - Geoff Lindey, strategic advisor on corporate governance at the National Association of Pension Funds, is to leave.
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ABN AMRO boosts hedge funds business with IAM buy
UK - ABN AMRO is buying the fund of hedge funds manager International Asset Management (IAM) in order to strengthen its own fund of hedge funds offerings.
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Awareness campaign launched on new securities
EUROPE - Four European institutions have launched an awareness campaign to prepare issuers and their agents for a new legal and holding structure for international debt securities, which will be launched from the end of June.
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Rauser Towers Perrin advises DZ Bank
GERMANY – Consulting firm Rauser Towers Perrin is advising Germany’s DZ Bank on the construction of an external fund, known as a contractual trust arrangement (CTA), for €1bn in pension liabilities, industry sources say.
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ABN Amro appoints EAFE chief
UK – ABN Amro Asset Management has appointed Andrew King as the new head of Europe, Australasia and Far East (EAFE) portfolio management and head of North American equities.
