Investor Strategy – Page 265
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Karas pledges support for prudential rules
EUROPEAN DIRECTIVE SPECIAL - Othmar Karas presents his findings to the European Monetary Affairs Committee today (March 21) - arguing that the 'prudent person' investment rule should hold sway, with non-compliant member states given ten years to come into line...
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ABP/State Street venture makes first investment
EUROPE/US – State Street Global Alliance, the jointly owned subsidiary of the e150bn Dutch civil service pension fund ABP and State Street Global Advisors (SSgA), has bought a major interest in Washington based Residential Capital Management...
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Compass points to Russell for £500m brief
UK – The trustees of the newly created £500m (e794m) Compass Pension Scheme for catering group Compass, have appointed multi-manager Frank Russell Company as the sole investment manager to the scheme’s assets....
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One in ten small cap firms meet investor hopes
UK – Only one in ten UK smaller quoted companies meet the minimum market capitalisation desired by institutional investors, according to a study by the London based consultancy KPMG Corporate Finance.
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SEI up and running with first UK mandate
SEI, the US multi-manager firm has picked up its first UK institutional investment mandate since setting up its London operations...
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Scheme specific benchmarks become the norm
UK- More than half of UK pension funds have now adopted their own benchmarks and follow a scheme specific investment policy, according to analysis by UK performance measurer CAPS...
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Myners: Schemes could boost consultancy market
Paul Myners has cleared the UK consultancy market of accusations of serious competition concerns, but recommended that pension funds split actuarial and investment advice contracts to bring more players into the country’s restricted advisory market....
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Irish scheme worries are fuelling manager reviews
Irish pension fund concerns over uncertainty in domestic and European legislation and regulation are being expressed through increasing manager reviews, according to a new survey...
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'Ericsson effect' drives Swedes abroad
SWEDEN – The ‘Ericsson effect’ is changing the attitudes of Swedish asset allocation, according to leading consultants. Ericsson's share price has plummeted from SEK930 (e103) last March to SEK85 this year.
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Swedish supervisors want to boost activities
SWEDEN – Finansinspektion (FI), the Swedish financial supervisory authority, has asked for an increase of almost 25% into its annual budget in the next three years, after an annual review.
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Mellon launches global distribution network
EUROPE: Mellon Financial Corporation is expanding its asset management business by developing Mellon Global Investments ....
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Lamfalussy reports on securities market reforms
EUROPE - A four pronged approach to regulation of European securities markets should be adopted by Europe’s policymakers if barriers of “Kafkaesque inefficiency” to financial market development are to be broken down, says the final report from the Committee of Wise Men, chaired by Alexandre Lamfalussy....
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FTSE rolls out Global Sector Index Series
FTSE has gone live with its new Global Sector Index Series - eleven blue-chip, global sector indices, designed for sector-based trading and supporting a variety of OTC and listed products...
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STOXX beefs up regional sales teams
STOXX has made a raft of appointments to its regional marketing and sales teams with Kevin Pilarski appointed regional director for the Americas and Jon Winslade regional director for the Netherlands and the UK.... and all the rest of the week's major people moves......
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PPM to up funds allocation for providers
SWEDEN – The state controlled premium pension system (PPM) is increasing the number of funds companies owned by the same holding group can offer to investors....
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VKG broadens property horizon in new RFP
BELGIUM - The e500m Brussels based VKG/CPM pension fund for doctors, dentists and pharmacists is seeking a manager for an indirect international real estate mandate, as part of a strategic geographical shift in its property investment set-up...
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UK fund allocates £112m into multinational equity
UK - The £330m (e527m) Southern Water Pension Schemes has appointed Dresdner to invest a third of its assets in multinational equities...
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Hermes focuses on German corporate specialist
UK – Pension fund manager Hermes, the investment company for both the BT and Post Office schemes, has appointed German corporate finance specialist Stephan Howaldt to head up its new European focus funds company (HEFF)...
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Proximus mobilises for new pension fund
BELGIUM - Proximus, the mobile phone subsidiary of Belgacom – the Belgian telecommunications group – is to create its own pension fund in the coming months, with projected annual inflows of e10m...
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Foreign investment in UK property doubles
UK – Overseas investment in British commercial property reached a record high in 2000, doubling the figure for 1999 at a total of £7.1bn, says a report by DTZ Research.
