Investor Strategy – Page 208
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Swiss schemes ‘invest more in alternatives’
SWITZERLAND – Swiss institutional investors have invested more in alternative asset classes and real estate in 2004 - but their asset allocation “remains prudent” a survey sponsored by Credit Suisse Asset Management suggests.
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PWC pensions partner Shuttleworth dies
UK – John Shuttleworth, a trenchant commentator on the pensions scene in the UK for PricewaterhouseCoopers, has died suddenly aged 47.
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PME ends possibility of taking VUT before age 60
NETHERLANDS - One of the largest Dutch pension funds, the €16bn PME, has stated that it has been forced to end immediately the possibility of taking VUT or TOP before 60.
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‘Over 75 UK schemes’ allocate to hedge funds
UK – More than 75 UK pension funds have made allocations to hedge funds, according to a report from Morgan Stanley.
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UK fund managers eye headcount expansion
UK – Fund management firms see improving business sentiment and expect to grow their headcount, according to a new survey.
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Analyst in “zombie investor” jibe at schemes
GLOBAL – Pension funds – along with other investors such as Asian banks and Japanese private investors – have been branded “zombie investors” by a respected economic commentator.
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Iceland’s Kaupthing in talks to buy UK’s Singer
ICELAND/UK – Icelandic bank Kaupthing, which has made a series of European acquisitions since 1998, is in talks to buy UK asset manager Singer & Friedlander.
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Dutch company funds have adapted – central bank
NETHERLANDS - Most Dutch company pension funds seem to have adapted well to the changing environment, although industry-wide schemes however haven’t yet completed the recovery process, says the central bank.
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BGI launches pooled liability funds
GLOBAL – Barclays Global Investors has launched 20 pooled liability driven investment funds with more than £1bn (€1.45bn) in assets.
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Allianz hedge arm eyes €2.5bn in assets
GERMANY – Allianz’s hedge fund group, Allianz Hedge Fund Partners, says it expects to raise its assets under management to €2.5bn in the short term amid growing institutional investor demand for hedge funds.
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Dutch ‘move to alternatives, emerging markets’
NETHERLANDS – Dutch pension funds have moved more into alternative assets and emerging markets in a quest for market outperformance and diversification, says performance measurement firm WM.
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PPF wants trustees to be proactive
UK – The new Pension Protection Fund has called for a “constructive and proactive” relationship with trustees of failed pension schemes.
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Dutch tax proposal could boost schemes
NETHERLANDS – Dutch pension schemes could gain out of a tax-change proposal from finance minister Gerrit Zalm aimed at improving the competitiveness of Dutch investment institutions.
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Standard Life in property deal for pension fund
UK - Standard Life Investments has bought a central London property on behalf of its Pooled Property Pension Fund for £20m (€28.8m).
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Red tape killing Dutch company schemes - KPMG
NETHERLANDS - Thirty percent of Dutch companies with their own pension schemes are seriously considering abandoning them due to ‘red tape’, says KPMG.
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Gloucestershire ousts managers in revamp
UK - Gloucestershire County Council's £600m (€863m) pension fund has appointed Standard Life Investments to manage a segregated specialist £130m UK equity portfolio.
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Commerzbank integrates fund sales and production
GERMANY – Commerzbank says it will integrate investment fund sales and production in a bid to boost return on equity.
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New NAPF chairman wants Myners rethink
UK – The incoming chairman of the National Association of Pension Funds has called for a rethink of the Myners Principles of institutional investment, saying it was a mis-step.
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UK Treasury to introduce REITs next year
The UK Treasury has committed itself to introducing legislation for a tax-exempt Real Estate Investment Trust (REIT) in 2006.
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UBS asset management arm nearly doubles institutional fund inflows
SWITZERLAND – UBS Global Asset Management said inflows to its institutional business nearly doubled to CHF 23.7bn (€15.3bn) in 2004.
