Investor Strategy – Page 215
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Pensions Trust hands iBoxx brief to Standard Life
UK - Standard Life Investments says it has been awarded a 75 million-pound (107.4 million-euro) corporate bond brief by the Pensions Trust, benchmarked against the iBoxx index.
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Danish pension funds set up real estate “club”
DENMARK – Five top Danish pension funds worth around 45 billion euros have set up a real estate “club” to invest in European indirect property vehicles, says real estate firm Cushman & Wakefield Healey & Baker.
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Italy’s Solidarieta’ Veneto tenders for managers
ITALY - Solidarieta’ Veneto Fondo Pensione, the regional pension fund for blue-collar workers, is looking for three asset managers for its 60-million-euro fund.
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ABP buys stake in UK real estate firm
UK - ABP, the 150 billion-euro Dutch civil service pension fund, has acquired a minority stake in the UK-based student accommodation company Unite Group.
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IPE strengthens Netherlands coverage
NETHERLANDS – Investment & Pensions Europe, the leading magazine for European institutional investors, has strengthened its coverage of the Dutch market with the appointment of Danielle Rossingh as Dutch Editor.
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PGGM hikes pension premiums
NETHERLANDS – The 57 billion-euro Dutch health care pension fund PGGM has increased its premiums to 15.5% of gross salary for 2005.
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Pension pooling a way to “get rid of trustees”
EUROPE – Pension pooling by multinational companies may be a way for them to “get rid of” uncooperative local trustees, an industry conference has been told.
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SSGA names Europe balanced head
FRANCE – State Street Global Advisors has appointed Frederic Dodard to the new role of head of balanced portfolio management for Europe.
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Finland “clouded” by ageing – report
FINLAND – Finland’s long-term outlook is not only “clouded” by the imminent ageing of the population – but the pension reform set to come in next year is insufficient, says a new report.
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Call for “predictable” Swiss pension rate
SWITZERLAND - Swiss pension funds should see their real coverage ratio as 10-15% lower than their technical estimate, a consultant has warned – calling for a “predictable minimum interest rate policy”.
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UBS asset management profit slips 20%
GLOBAL – Pre-tax profit at UBS Global Asset Management has slipped almost 20% in the third quarter despite three billion Swiss francs (1.9 billion euros) of new institutional business.
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Deloitte unveils pension pooling for multinationals
EUROPE - Professional services firm Deloitte has launched a pension pooling offering and said it is working with consumer products group Unilever on implementing pooling in practice.
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Fidelity names pan-Europe bond business head
EUROPE - Fidelity Investments has named Achim Gloger as business development director for pan-Europe in its institutional fixed income team to help as clients move into bonds.
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Deutsche asset strategy queried amid AUM slump
GERMANY – Deutsche Bank’s asset management strategy has come under scrutiny in the wake of disclosures that its institutional fund arm DeAM lost 13 billion euros in assets in the third quarter.
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DaimlerChrysler makes E915m pension contribution
GLOBAL – Car giant DaimlerChrysler says it has cut its liabilities with pension fund contributions of almost a billion euros in the first nine months of the year.
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UK’s protection fund seeks investment head
UK – The Pension Protection Fund has advertised for a director of investment and finance to oversee its assets and resources.
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BNP Paribas picks up Luxemburg SICAV brief
LUXEMBURG - The Luxemburg-based real estate fund for institutional investors, Sireo Immobilienfonds n°4 SICAV, has awarded BNP Paribas Immobilier a 200 million-euro mandate to be invested on the French market.
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New framework may change Dutch funds’ asset mix
NETHERLANDS - The new supervisory framework for Dutch pension funds and insurers may lead to a move out of equities and into bonds, experts have suggested – though the government doesn’t plan to change its bond issuance strategy.
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Danica Pension in E255m shift to equities
DENMARK – Danica Pension, the life insurance and pension arm of Danske Bank which has a large bond portfolio, has made a 1.9 billion-crown (255 million-euro) net investment in equities.
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Germany to deregulate occupational pension funds
GERMANY - The German finance ministry has unveiled a draft law providing for sweeping de-regulation of the country’s two occupational pension funds, known as Pensionskassen and Pensionsfonds.
