Investor Strategy – Page 211
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Canadian scheme backs Luxembourg’s Honsel
LUXEMBOURG – Ontario-based public pension scheme OMERS has made a US$40.6m (E35m) investment in Luxembourg-based car industry supplier Honsel International Technologies.
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December European ETF trading volumes fall
EUROPE -- The aggregate volume of exchange-traded funds (ETFs) traded on European exchanges decreased 1.71% in December from the previous month to 220m shares, according to the Pan European ETF Report.
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Aon Consulting’s Belgian co-MD Claes leaves
EUROPE – Anne Claes, joint managing director at Aon Consulting in Belgium, has left.
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Metallrente posts 48% rise in sales
GERMANY - Metallrente, the pension fund for employees in Germany’s metalworking and engineering industries, has posted a 48% rise in sales of its corporate pension in 2004 despite difficult market conditions.
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New shareholders at MetallRente - report
GERMANY - Metallrente, the pension fund for employees in Germany’s metalworking and engineering industries, looks set to get new shareholders as part of a shake-up aimed at boosting sales.
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Inarcassa says European equities beat benchmark
ITALY – Inarcassa, the €2.7bn association for self-employed engineers and architects, said its European equity portfolio outperformed its benchmark by 5.63% in 2004.
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Dutch building scheme backs Aareal fund
NETHERLANDS - The Dutch building workers pension scheme has committed equity on behalf of two pension fund clients to a real estate fund run by Aareal.
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JP Morgan eyes profitable German mandates
GERMANY – The head of JP Morgan Fleming in Germany says that winning profitable mandates is the firm’s top priority.
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Trichet flags up pensions at ECB rate meeting
EUROPE - Jean-Claude Trichet, the president of the European Central Bank, flagged up the challenge of population ageing and pension systems in the bank’s monthly press conference on monetary policy.
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Two Dutch schemes back real estate fund Altera
NETHERLANDS – Physiotherapists’ fund SPF and the pension fund of Cindu International in the Netherlands have invested E22m in Altera Vastgoed, the E1bn private real estate fund has said.
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Allianz Global Investors wins SICK brief
GERMANY - Allianz Global Investors has won one of its first investment mandates for so-called working time accounts, from industrial firm SICK AG.
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Pickering becomes trustee at educational charity
UK – Alan Pickering, former chairman of the European Federation for Retirement Provision, has been invited to join the board of trustees of educational charity Pre-retirement Association.
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UK councils tender bonds, equities and property
UK - Northamptonshire, Essex and North Yorkshire County Councils have put out requests for tenders for equity, bond and real estate portfolios worth a total of more than £500m (€715.5m).
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€500m PCM joins Dutch publishing sector scheme
NETHERLANDS - PCM, one of the largest newspaper publishers in the Dutch language region, has transferred its €500m pension fund to the €7.6bn industry-wide pension fund for the publishing sector, PGB.
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German brokerage group BCA slams hedge funds
GERMANY - BCA, Germany’s largest pool of independent financial brokers, has sharply criticised hedge funds, saying the products are both too costly and have performed poorly over the past few years.
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KAS Bank names Tibboel as institutional director
NETHERLANDS - KAS Bank has named Egon Tibboel as director of institutional investors, a new role, in a revamp that has seen the creation of two new divisions.
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Watson Wyatt warns on higher Myners costs
UK – Pension consulting firm Watson Wyatt has warned of “unintended consequences” such as higher costs and disjointed decisions due to the Myners principles on the separation of asset allocation advice and manager selection.
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KAS Bank says it’s now more European
NETHERLANDS – KAS Bank, the Dutch securities services bank, said 2004 had been a “good year”, reporting a “considerable” number of new clients – and that it has transformed itself into a “European” player.
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BBC refuses comment on DeAM report
UK -- The BBC’s £6bn (€8.7bn) pension scheme has declined comment on a report that it has dumped Deutsche Asset Management (DeAM) in the UK due to poor performance.
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Poll finds pensions pose M&A threat
UK -- Almost half of the chief financial officers (CFOs) of leading companies in the UK say that the pension liabilities of companies they are considering buying or merging with are serious obstacles.
