All IPE articles in June 2005 (Online) – Page 2
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Top execs quit former Heubeck parent FJH
GERMANY - FJH, the embattled insurance software company that formerly owned German pensions adviser Heubeck AG, has announced the resignation of its chief financial officer as part of a shake-up of its management board.
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Putnam institutional chief Boneparth retires
GLOBAL – John Boneparth, head of global institutional management at Putnam Investments, is to retire in September.
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Central banks query hedge fund diversification
GLOBAL – The Bank for International Settlements, the central banks’ central bank, says fund managers’ claims about the diversification benefits of hedge funds may be overstated.
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JP Morgan sees virtual pension pooling by Q4
UK – JP Morgan says it could have a UK pension fund client in a virtual pooling arrangement by the fourth quarter of this year.
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Dutch chemicals firm DSM shifts risks to staff
NETHERLANDS - Chemicals group DSM is the first listed Dutch company to shift the investment risks of its pension funds to its employees, according to reports.
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DeAM replaced at UK charities foundation
UK – The UK Charities Aid Foundation has replaced Deutsche Asset Management, manager of its two biggest collective investment schemes worth a total of £500m (€751m), with UBS Global Asset Management and Insight Investment.
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Fortis offers €1.6bn for NIB Capital, paper says
NETHERLANDS – Banking and insurance group Fortis has offered €1.6bn for NIB Capital, the bank owned by the two largest Dutch pension funds, according to Dutch daily Het Financieele Dagblad.
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Deutsche’s Walter sees “older, emptier” Germany
GERMANY – Germany will be “older and emptier” in 2025 with fewer people in work and twice as many over-80s, according to Deutsche Bank chief economist Norbert Walter.
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Mercer hires ex-IAPF chief for new Irish unit
IRELAND – John Feely, former chairman of the Irish Association of Pension Funds, has joined Mercer to head its new retirement solutions arm in Ireland.
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EU directive may mean market convergence - CEA
EUROPE – The European insurance association says the new directive on occupational pensions could lead to convergence in the European pensions market.
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German financial services scheme BVV ups return
GERMANY - BVV, Germany’s largest traditional pension fund serving the financial services industry, has disclosed a small increase in its guaranteed return for 2004.
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Dutch building schemes in €21bn merger
NETHERLANDS – The Dutch building industry pension fund managers ASW and Cordares have agreed to merge to create an entity with €21bn in assets.
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Citigroup exits asset management business
GLOBAL – Citigroup has confirmed it is exiting the asset management business in a $3.7bn (€3.1bn) deal with Legg Mason.
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Henderson names Germany sales head
GERMANY - Henderson Global Investors has named Uwe Diehl to head of sales for Germany and Austria.
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IPE-QUEST: Dutch fund tenders Japanese small-caps
NETHERLANDS – A Dutch consultant has tendered up to two Japanese small cap equities mandates on behalf of a Dutch pension fund via IPE-Quest.
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Irish, Dutch schemes in German real estate move
GERMANY – Irish and Dutch pension funds are among the backers who’ve put $140m (€116.2m) into a German residential real estate venture called DeWAG.
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Two staff leave Siemens pension department
GERMANY – Two staff at industrial giant Siemens’ corporate pensions department are to leave, including senior consultant Alexander Neszvecso.
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Dutch metals scheme PMT eyes dynamic strategy
NETHERLANDS – The €24bn Dutch metals industry pension scheme Pensioenfonds Metaal en Techniek says it is mulling a more “dynamic” asset strategy.
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Boots using swaps to improve liability matching
UK – Retailer Boots, which made a high-profile switch into an all-bond portfolio in 2001, says its strategy of using swaps to match pension liabilities is now almost complete.
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Asset managers want hedge fund tax debate
UK – The UK’s asset management trade body has called for a debate about the tax position of hedge funds.