Investor Strategy – Page 205
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IPE-QUEST: €10.6bn fund tenders hedge funds/TAA
EUROPE - A $13bn (€10.6bn) European pension fund has tendered for up to five global macro hedge fund/tactical asset allocation (TAA) overlay managers via IPE-Quest.
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UK protection fund ‘to strangle DB in charities’
UK – The Pensions Trust has warned that the Pension Protection Fund and the new FRS17 accounting standard could “completely strangle DB provision in the charitable sector”.
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The balanced mandate is back, industry says
UK – The traditional balanced mandate appears to be making a return, albeit under a new guise, according to investment consultants and asset managers.
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Towers Perrin buys German consulting firm Rauser
GERMANY - International consulting firm Towers Perrin has agreed to buy German occupational pensions advisor Rauser AG for an undisclosed sum.
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Watson's Thornton in share sale (Update)
GLOBAL – Paul Thornton, European senior partner at consulting firm Watson Wyatt, has sold $2.63m (€2.2m) worth of shares in the company (Updates with clarification).
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Hewitt, Bode launch German joint venture
GERMANY – Consulting firm Hewitt Associates has formally launched its German joint venture with Bode Grabner Beye, a Munich-based actuarial and benefits consultancy.
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Union Investment unveils private pension
GERMANY - Union Investment says it's the first asset manager in Germany to rollout a private pension targeted at pensioners and others above the age of 55.
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European fund body EFAMA looking for new head
EUROPE – The European Fund and Asset Management Association is looking to hire a new director general to take over from Steffen Matthias when he retires.
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Irish reserve fund commits €3bn to private equity
IRELAND – The €13.5bn Irish National Pensions Reserve Fund says it plans to commit around €3bn to private equity in the next five years or so.
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Mercer HR Consulting names COO and president
GLOBAL - Mercer Human Resource Consulting has named a new chief operating officer and president, both new roles.
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Germany implements pension fund directive
GERMANY - Germany has implemented the EU directive on occupational pension funds more than two months before the September 23 deadline following a parliamentary vote on Friday.
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Lehman names European asset management head
EUROPE – Investment banking group Lehman Brothers has hired former Credit Agricole executive Thierry Sciard as head of investment management for Europe, a new role.
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Dutch schemes’ Harcourt in Swedish hedge move
SWEDEN - Harcourt Investment Consulting, the Swiss hedge funds business that is ultimately majority owned by ABP and PGGM through NIB Capital, has launched a Swedish hedge fund index.
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Analysts welcome Deutsche Asset Management exit
UK - Deutsche Bank watchers have welcomed this morning’s announcement that virtually all of Deutsche Asset Management in the UK will be sold to rival Aberdeen, noting that the move gives Deutsche an elegant exit from the business.
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Dutch schemes’ NIB ‘close to take-over decision’
NETHERLANDS – NIB Capital, the merchant bank owned by the two largest Dutch pension funds, has received a bid from a former board member of Goldman Sachs, according to press reports.
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Hewitt says 39 clients go ‘unconstrained’
UK – Hewitt Associates says 39 of its UK pension fund clients have gone to so-called unconstrained mandates, up from 20 six months ago.
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Cominvest affilate Ebase sees pensions boost
GERMANY - Ebase, a fund service platform tied to German asset manager Cominvest, says the expected boom in occupational pensions will mean assets under administration from that sector will almost double by the end of 2008.
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WestAM names Westen as asset allocation chief
GERMANY - Institutional fund provider WestAM KAG has hired Gunther Westen from HSBC Trinkhaus Capital Management for the new role of director of asset allocation and fund management.
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Portability proposal “could be adopted” this year
EUROPE – The European Commission says a proposed directive on pension portability could be adopted this year as part of plans to make 2006 the year of ‘European worker mobility’.
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Dutch may issue index-linked to aid schemes
NETHERLANDS - The Dutch Treasury is looking at the possibility of issuing index-linked bonds to help with the financing of pension funds, says finance minister Gerrit Zalm.
