Investor Strategy – Page 234
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Ashcourt acquires BWH to boost asset offering
UK – Asset manager Ashcourt Holdings is about to acquire another London-based manager Barney Wilkins & Howard (BWH). The deal will add significantly to the assets managed by Ashcourt, increasing these from 250 million pounds (361 million euros) to 350 million pounds.
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Asset managers quit and turn backs on industry – survey finds
UK – More fund managers are leaving the industry than at any point in the past seven years, reveals a survey by consultants Watson Wyatt.
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T. Rowe Price hires former ADAM CIO
UK – Laurence Linklater, former chief investment officer at Allianz Dresdner Asset Management, has been appointed by T. Rowe Price International.
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FERI launches European fund data product
EUROPE - Fund groups in Europe no longer have to work blind as a result of a new data product, claims Rodney Williams, managing director of London-based FERI FMI...
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Portuguese pension funds net buyers of equities
PORTUGAL – Pension funds in Portugal were net buyers of equities in the first quarter, according to new data from Watson Wyatt.
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Ignore consultants’ advice, says Somerset
UK – The head of the 600 million-pound (867 million euro) local authority pension fund of Somerset County Council says only a bad pension fund follows the advice of investment consultants to the letter.
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Staffordshire taps Goldman for asset allocation
UK – Staffordshire County Council has appointed Goldman Sachs Asset Management to run a 970 million pound (1.4 billion euro) asset allocation mandate for its pension fund. The total fund size is 1.3 billion pounds (1.9 billion euros).
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European institutions shun consultants - poll
EUROPE – A new poll has found that 67% of European institutional investors do not employ the services of an external investment consultant.
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AP1 tenders $200-300m US small-cap mandate
SWEDEN - The 12.8 billion-euro Swedish national pension scheme AP1 has put out to tender a 200-300 million dollar US small-cap mandate.
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Chynoweth retires as chief executive of university scheme
UK – David Chynoweth, chief executive of the 31.2 billion euro Universities Superannuation Scheme education pension fund, has retired after almost 10 years with the scheme.
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DeAM sets up transition management team
UK – Following demand from institutions, Deutsche Asset Management has set up a team dedicated to transition management.
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International Benefits Network expands membership
UK – Finland is one of the three new countries included in the consultancy network operated by International Benefits Network (IBN), a worldwide grouping for employee benefits services. Three new member firms have been added to give greater international presence.
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Metalektro taps Goldman for E750m brief
NETHERLANDS – The 11.7 billion euro Pensioenfonds Metalektro has appointed Goldman Sachs Asset Management to manage a 750 million euro asset allocation and active currency mandate.
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Consultants HBW launch ‘conflict free’ fund service for pensions
UK – Major consulting firm Hewitt Bacon & Woodrow(HBW) has introduced the Fund Delivery Service enabling pension funds to choose investment funds from a wide range of managers, but on a basis that claims to avoid any conflicts of interests.
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AP7 looks at e1bn active currency overlay strategy
SWEDEN – The Stockholm-based e2.9bn AP7 fund looks set to introduce an actively managed currency overlay strategy that could be worth up to e1bn next year, in the pursuit of greater outperformance.
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Sweden’s IPM expands First Quadrant venture
SWEDEN – Swedish investment strategy firm Informed Portfolio Management has expanded its European marketing deal with California-based First Quadrant.
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Ex-Watson Wyatt consultant joins Investit
UK - Former Watson Wyatt senior investment consultant Philip Robinson has joined specialist consultancy Investit in London to boost its strategic marketing and investment process practice.
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UK Pension Commission to report by summer 2005
UK – The new Pension Commission, set up by the government to review private pensions and long-term savings, plans to issue its first report in two years’ time.
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Glaswegian wins State Street Caledonian Challenge
UK - The organisers of the State Street Caledonian Challenge will know later this week how many of 1,620 who registered to walk the designated 54 mile stretch of the West Highland Way in a 24 hour period actually completed what is reckoned to be the country’s “premier endurance challenge”.
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Goldman Sachs AM loses E6.8bn in British Coal revamp
UK - The 10 billion pound (14 billion euro) British Coal Staff Superannuation Scheme has withdrawn 4.8 billion pounds (6.8 billion euros) from Goldman Sachs Asset Management -but says GSAM remains a "favoured manager".
