Investor Strategy – Page 229
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AP2 tenders global tactical asset allocation
SWEDEN – The second Swedish national pension fund, Andra AP-fonden or AP2, is tendering one or more global tactical asset allocation mandates, with a notional value of around one billion dollars each (850 million euros).
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Mercer builds currency overlay universe
GLOBAL – Mercer Investment Consulting is building a currency overlay performance universe.
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Mercer buys Nordic consultant Benefit Network
NORDIC – Mercer Human Resource Consulting is expanding in Norway and Sweden, having entered definite agreements to acquire parts of Benefit Network ASA and Benefit Network Consulting AS.
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UBS says it gains E4bn in institutional assets
GLOBAL – UBS added 6.3 billion Swiss francs (four billion euros) in institutional assets under management in the third quarter of this year.
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UK’s GAD uncertain about client payments
UK - The Government Actuary’s Department says it has trimmed spending due to uncertain client payments.
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HSBC tops new R&M survey of trustee banks
UK – R&M Consultants have released the results of its first survey of trustee and depositary banks – which shows that HSBC is the top choice of investment managers.
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Swissca says chief executive von Ah leaves
SWITZERLAND – Swissca Portfolio Management’s chief executive Roman von Ah has left with immediate effect, the company said in a statement.
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CSAM sees E3.5bn institutional outflow
GLOBAL – Credit Suisse Asset Management saw an outflow of four billion dollars (3.5 billion euros), mostly from institutional clients, in the third quarter of this year.
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Chile’s Piñera sees growing global PAYG crisis
GLOBAL – The architect of Chile’s pension reform, José Piñera, says demographic “megatrends” will accelerate the crisis in pay-as-you-go pension systems.
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Nordea sees surge in Finnish assets
NORDIC – Nordea’s assets under management increased 5% in the third quarter, predominantly driven by growing business in the Finnish market.
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Netherlands’ TNO scheme opts for Hewitt
NETHERLANDS – The 1.2 billion-euro pension scheme of Dutch research institute TNO has chosen Hewitt Heijnis & Koelman as actuary and pensions consultant.
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Minister slams UK pension managers on activism
UK – The UK’s trade and industry minister, Patricia Hewitt, has criticised the lack of shareholder activism among pension fund managers.
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Bank of Ireland boosts UK institutional team
UK – Bank of Ireland Asset Management UK has expanded its client services team with the appointment of Alice O’ Dowd.
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Top pension funds quiz firms on emissions
GLOBAL – Eighty-seven of the world’s leading institutional investors and pension funds have written to 500 companies asking for the disclosure of information regarding their greenhouse emissions.
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Hibernian passes some asset management to London
IRELAND - Hibernian Investment Managers, (HIM) one of the five largest asset managers in Ireland, has split its fund management business between Ireland and the UK.
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ABP forms real estate venture in US with Prentiss
NETHERLANDS/US – Dutch civil servants pension fund, ABP, has agreed to form a joint venture with US real estate investment trust, Prentiss Properties Trust.
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Renaisssance plays down impact of arrest of Yukos chief
RUSSIA - The arrest of the head of Yukos, Russia’s largest oil company, will not slow the country’s move to a market economy, say Moscow investment analysts.
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German investment funds gain E48bn
GERMANY – German investment funds have seen net inflows of 48.7 billion euros in the first three quarters of 2003, according to the latest statistics from the BVI.
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Swiss pension funds return 1.2% in Q3 – report
SWITERLAND – Swiss pension funds returned 1.2% in the third quarter of this year, according to a new report from InterSec.
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Robeco AM scraps investment policy committee
NETHERLANDS – Robeco Asset Management has scrapped its investment policy committee amid a revamp of management responsibilities.
