All IPE articles in July 2005 (Online) – Page 6
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News
Achmea under scrutiny at Dutch metals fund PME
NETHERLANDS – Common pension management firm PVF Achmea is under scrutiny at €16bn Dutch metals industry pension scheme PME, Bedrijfstakpensioenfonds Metalektro, which is looking at costs and service standards.
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Former BA pension chief joins trustee group
UK – Jenny Rosser, former managing director of pensions at airline group British Airways, has joined independent pension trustee firm BESTrustees.
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Dutch rail scheme joins broker research group
NETHERLANDS – SPF Beheer, which manages €10bn for the Dutch railways pension fund, has joined the Enhanced Analytics Initiative – which seeks to improve brokerage research.
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SSGA to grow alternatives “as fast as we can”- FT
GLOBAL – State Street Global Advisors plans to grow its alternatives business “as fast as we can”, according to an interview with State Street chief executive Ron Logue in the Financial Times.
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IPE-QUEST: insurer tenders $100m
SCANDINAVIA – A Scandinavian life insurer has tendered a $100m (€83m) Japanese equity mid-cap core mandate via IPE-Quest.
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FUND FORUM: MAN CEO on investable hedge indices
MONACO - Investable hedge funds indices were given the thumbs down by a senior industry figure at the Funds Forum conference.
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Buck to replace investment consulting head
UK - Buck Consultants is set to name a new head of investment consulting following the departure of incumbent Paul Black to Lane Clark & Peacock.
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Germany’s Pensor bought by insurer Volksfürsorge
GERMANY - German insurer Volksfürsorge has acquired Pensor Pensionsfonds, one of the new equity-oriented pension vehicles, from Pensor shareholders Commerzbank and Höfer Vorsorgemanagement, a German pensions consultant.
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Lehman names European asset management head
EUROPE – Investment banking group Lehman Brothers has hired former Credit Agricole executive Thierry Sciard as head of investment management for Europe, a new role.
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VW pension managers exit amid probe
GERMANY – The resignation today of Volkswagen’s human resources head Peter Hartz follows that of VW’s Pension Trust director Helmuth Schuster amid a bribery investigation.
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Dutch schemes’ Harcourt in Swedish hedge move
SWEDEN - Harcourt Investment Consulting, the Swiss hedge funds business that is ultimately majority owned by ABP and PGGM through NIB Capital, has launched a Swedish hedge fund index.
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ABP, Hermes in Japan governance move
NETHERLANDS – Stichting Pensioenfonds ABP, the largest Dutch pension fund, has tapped Hermes to assist it on corporate governance issues on its €4.9bn Japanese equity portfolio.
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INTERVIEW: US’s Oxley on corporate governance
GLOBAL – US congressman Michael Oxley, co-author of the US Sarbanes-Oxley corporate governance legislation, says institutional investors are “finding their voice” in corporate governance.
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“Discontinuous event” fears for hedge funds – S&P
GLOBAL – The growth of hedge funds and the derivatives they use may amplify the impact of the next “discontinuous event”, Standard & Poor’s has warned.
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Dutch textiles and clothing schemes to merge
NETHERLANDS - The industry-wide pension funds for the textile and ready-made clothing sectors plan to merger, the schemes said in a statement.
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Analysts welcome Deutsche Asset Management exit
UK - Deutsche Bank watchers have welcomed this morning’s announcement that virtually all of Deutsche Asset Management in the UK will be sold to rival Aberdeen, noting that the move gives Deutsche an elegant exit from the business.
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Germany’s Heubeck unveils new pension tables
GERMANY - Heubeck AG, an actuarial and pensions advisory firm, has predicted that German companies using cash reserves to finance pension obligations will only have to raise those reserves slightly in the short term.
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Dutch government employees keep pre-pension
NETHERLANDS - After months of negotiations and labour protests a new agreement has been reached between the government employers and Dutch trade unions.
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CalPERS invests €21.7m in Californian vineyards
US – CalPERS, the largest US pension fund, has bought Californian vineyards for $26m (€21.7m) – looking for a return above 16%.
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Bank of NY and BHF in German custody venture
GERMANY – The Bank of New York and German private bank BHF-Bank have established a joint venture in Germany to provide securities custody and settlement services for asset managers and institutional investors.
