Investor Strategy – Page 250
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Yorkshire hands e900m to Schroders and Western
UK – The £865m (€1,407m) Yorkshire Electricity Group pension scheme has carried out a strategic asset allocation review that has led to the appointment of Schroders and Western Asset Management to run two new £280m (€455m) sterling fixed income mandates.
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JP Morgan's Lowrie joins Newton IM
UK – London-based Newton Investment Management has appointed Audrey Lowrie as a fund manager with responsibility for UK institutional equities and global multi-asset portfolios.
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French warm to Épargne Salariale pensions
FRANCE – The Épargne Salariale market is fast becoming considered a principal source of retirement provision in France, according to the 2nd Baromètre Annuel de la Gestion de l’Épargne Salariale, the annual survey of occupational savings trends by JP Morgan Fleming, Hewitt and Interépargne Banque Populaire.
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Hüppi to resign as Zurich Financial Chairman
SWITZERLAND – Rolf Hüppi is to resign as chairman of Zurich-based Zurich Financial Services, following the company’s decision earlier this year to replace him as chief executive officer as a consequence of public criticism that the chairman and CEO of the company should be separate offices.
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ALM study could open up PMI's investment strategy
NETHERLANDS – The giant €12.5bn Dutch metal workers fund, PMI, is undertaking an asset liability study that could open up its investment strategy to include alternatives such as commodities, currency overlay, below investment grade bonds and inflation-linked contracts.
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Wilding to replace Piermay at EURACS
NETHERLANDS- The European Actuarial Consulting Services (EURACS) has appointed Danny Wilding of Barnett Waddingham as chairman to succeed Dominique Piermay of Fixage following the actuarial company's decision to leave and join the consulting network Milliman Global.
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UK budget is bad news for property investors
UK – Changes to stamp duty on commercial property announced in chancellor Gordon Brown’s budget will lead to growth in the property unit trust market according to Tim Bell, director of property at F&C Management in London.
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UBS Capital partners launch PE exit strategy group
UK- Five partners in the UK team of UBS Capital, the private equity company formerly known as Phildrew Ventures, have launched a new entity IRRfc specialising in taking on the management of institutional investors’ unwanted private equity holdings. IRRfc will focus exclusively on exit strategies and will not be making ...
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Boots buys £200m of inflation-linked assets
UK- Boots’ £2.4bn pension fund has purchased £200m worth of inflation-linked investments in a bid to improve the match between assets and liabilities. The purchase follows the fund’s decision last October to sell its entire equity holdings and move the proceeds into fixed income. At the time critics said the ...
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Fortis and SAMS form risk analysis joint venture
BENELUX- Fortis Investment Bank and software provider Strategic Asset Management Solutions (SAMS) have launched a joint venture offering Benelux clients bespoke performance attribution, risk measurement and analysis.
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Franklin Templeton beefs up FTI Institutional
UK- Franklin Templeton Investments is expanding FTI Institutional, its London-based marketing and client servicing division, with four new appointments. Peter Escott has been moved from manager of international marketing services to manager of UK Institutional Sales. Escott is tasked with building consultant and market awareness of Templeton’s global equity exempt ...
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Mercer IC prepares to re-open Stockholm office
UK/NORDIC- Mercer Investment Consulting has appointed Hanne Hother as a senior investment consultant for the Nordic region. Based in London, she will develop the investment consulting services in Sweden, Denmark, Norway and Finland.
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First German sponsored Pensionsfond gets go-ahead
GERMANY - The German chemical employers association, the Bundesarbeitgeberband Chemie (BAVC) and the industry’s trade union, the Industriegewerkschaft Bergbau, Chemie, Rnergie (IG-BCE), have received the go-ahead to launch Germany’s first sponsored Pensionsfond – the first grouping to do so.
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AP4 tenders $600m in Asia and Japanese equities
SWEDEN- Sweden’s Skr130bn (e14.3bn) AP4 fund has announced the tendering of Asia Pacific-ex Japan and Japanese equity mandates worth up to a total of $600m (e682m). The fund is to appoint several firms to oversee the mandates, deadline for applications is May 11th and appointments should be announced some time ...
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Zurich completes purchase of Deutscher Herold
SWITZERLAND/GERMANY- Zurich Financial Services has completed the e1bn, 75.9% acquisition of the insurance holdings of Deutsche Bank including the Deutscher Herold Group, Bonnfinanz, and DGV.
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Mercers IC business development head moves to TGM
UK- The recently re-named Mercer Human Resource Consulting has lost its investment consulting head of marketing and business development David Tucker to a similar role at TGM Asset Management in London. TGM started life in 1997 as a tactical asset allocation manager but has since moved into currency overlay and ...
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Threadneedle relocates UK property fund to Jersey
JERSEY/UK- Threadneedle Investments has formed the Threadneedle Property Unit Trust by relocating the former Sackville Property Unit Trust from the UK to Jersey. Prior to the switch, the £110m fund was only open to UK pensions and charities. The move to Jersey will open it to a broader range of ...
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Scottish Life launches guaranteed growth fund
UK – Isle of Man-based capital protected products specialist Scottish Life International (SLI) has launched a new guaranteed growth fund, the Protected Term Deposit (PTD) Series I, aimed at self-administered pension schemes.
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S&P to publish 2,200 funds' asset allocation data
GLOBAL- S&P Fund Services has announced it is to publish asset allocation data for more than 2,200 UK unit trusts, OEICs and offshore funds from the end of the month. The data, available on www.funds-sp.com, will show each fund’s top ten securities by name and percentage, portfolio allocations by industry, ...
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Powys seeks investment managers for £80m
UK – The £160m (€260.7m) Powys County Council pension fund in Wales is looking for asset managers for a £48m active fixed income mandate and two £16m active equity mandates. John McNeil, head of finance at the fund, says the RFP has come about because the fund grew unhappy with ...
