Investor Strategy – Page 224
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Watson Wyatt names Aon’s Witt as Munich manager
GERMANY - Watson Wyatt has appointed Jens Witt of Aon’s German consulting subsidiary to the new position of managing consultant for its Munich office as it expands in Germany.
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Danish funds sign agreement with SRI firm Eiris
DENMARK – Socially responsible investing consultant Ethical Investment Research Services has signed agreements with two Danish pension funds, Pensionskassernes Administration and Magistrenes Pensionskasse.
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IBM likely to use new Irish common fund
IRELAND - Computer giant IBM is likely to become one of the first multinational companies to use the common contractual fund (CCF), Ireland’s new tax transparent pooling vehicle, to pool its pension funds’ global equity assets.
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Somerset taps Standard Life for equities
UK - The 652 million-pound (979.8 million-euro) Somerset County Council Pension Fund has selected Standard Life Investments to manage a segregated specialist UK equity portfolio valued at around 175 million pounds.
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St. James’s awards custody to State Street
UK – St. James's Place, the wealth management firm with eight billion pounds (6.5 billion euros) under management, has awarded State Street Corp. a custody and fund accounting mandate.
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Monte Paschi and Hines in Italian property fund tie-up
ITALY- Monte Paschi Asset management SGR, the asset management branch of the bank Monte dei Paschi di Siena has formed an alliance with international real estate manager Hines to create a ‘value-added’ fund for institutional investors called MH Real Estate Crescita.
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AP3 invests E38m in new forestry group
SWEDEN – Tredje AP-fonden has bought a 4.9% stake in new Swedish forestry group Bergvik Skog for around 350 million crowns (38 million euros).
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Switzerland’s PUBLICA names new director
SWITZERLAND - The 28 billion-Swiss franc (18 billion-euro) Swiss Federal Pension Fund PUBLICA has named Werner Hertzog as director.
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NAPF: UK Government review of Myners taking 'longer than expected'
UK – The UK government says it will be “taking stock” of a series of current issues in the pensions industry in the early spring and summer – but conceded the quantitative review of the Myners Report was taking longer than expected.
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NAPF: Conference told swaps are the future for pension funds
UK – Delegates at the National Association of Pension Funds (NAPF) conference have been told that most pension schemes will use swaps in the future..
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Only one in five Spanish trustees has good financial knowledge - Mercer
Only 20% of the trustees of second pillar pension schemes in Spain consider that they have a good level of financial knowledge.
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French retire en masse before new law kicks in
Almost 100,000 people in France have asked to retire before the statutory retirement age of 60, following reforms of the French pension system introduced in January.
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Stopford promoted to Investec fixed income top slot
UK - Investec Asset Management has promoted the head of its South African fixed income team, John Stopford, to head up the firm’s fixed income business.
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AP3 switches US equity portion to Asia-Pacific region
SWEDEN –Sweden’s third national pension fund, AP3, has reduced the size of its 24.7 billion Kronor (2.6 million euros) US mandate by 2.5% of the total portfolio to boost a 930 million kronor (100 million euros) Asia Pacific exposure.
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VB may take government to court over Staatsen
NETHERLANDS - The VB, the Dutch Association of Industry-wide Pension Funds, says it may have to take the Dutch government to court if it decides to introduce a form of quantitative investment restrictions for Dutch pension funds as part of the findings of the Staatsen Commission.
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Northern Trust hires Gartmore’s Harper
UK – Northern Trust Global Investments has hired Gartmore’s Kate Harper as a director of institutional sales.
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EU expansion to boost private equity – EVCA
EUROPE – The expansion of the European Union at the start of May is being seen as providing a boost to the European venture capital and private equity business.
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Luxembourg’s EFA “positioned for pensions”
LUXEMBOURG – Fund firm European Fund Administration says it is now “ideally positioned” to support the European pension market.
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KBC sells Polish pension fund to PTE Polsat
POLAND - Kredyt Bank, the Polish unit of Belgian financial holding company KBC, has decided to sell its pension business to competitor PTE Polsat for an undisclosed price.
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New Italian fund Fondapi seeks asset managers
ITALY – Fondapi, the newly licensed pension fund for small and medium companies, is looking for three asset managers for a total of 56 million euros in mandates.
