Markets – Page 185
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NewsNew York State pension fund sues BP over losses
GLOBAL – The New York State Common Retirement Fund is suing BP over losses incurred through the oil spill in the Gulf of Mexico.
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NewsDenmark's ATP makes first foray into UK with new office
EUROPE – The Danish Labour Market Supplementary Pension ATP has made its first foray into the UK market by opening an office in London.
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NewsUK to cut gilt sales by £20bn; PwC warns on asset management industry
UK – Planned UK gilt sales in 2010-11 are being reduced by £20.2bn (€24.6bn) to £165bn as a consequence of new forecasts for public finances published in the Budget.
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NewsPensions Board laments massive deficits for Irish DB schemes
IRELAND – Three-quarters of Irish defined benefit (DB) schemes were still in deficit at the end of last year, according to The Pensions Board's 2009 Annual Report.
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NewsABP joins forces with Canada's OMERS on 15-year start-up initiative
GLOBAL – Dutch pension giant ABP has teamed with the Ontario Municipal Employees Retirement System (OMERS), one of Canada's largest pension funds, to launch a 15-year programme to invest in start-ups located in both countries.
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Asset managers expecting global surge in M&A activity
GLOBAL – Asset managers are expecting to see a wave of international merger and acquisition (M&A) activity over the next 12 months, according to a survey by KNEIP.
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Germany's BVK to boost investment in emerging market debt
GERMANY – The Munich-based Bayerische Versorgungskammer (BVK), the largest pension fund in Germany, is set to increase its emerging market debt (EMD) exposure over the coming months.
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Belgium's RHJ acquires KBC's Irish subsidiary for €23.7m
EUROPE – KBC Asset Management has agreed to sell its Irish subsidiary to Belgium-based RHJ International for €23.7m.
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NewsItalian asset managers struggling with new rules, survey says
ITALY – Asset managers in Italy may be hard pressed to comply with new governance rules taking effect at the end of this month, according to a survey from RBC Dexia.
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NewsHenderson Global Investors ends talks with US-based RidgeWorth
UK – Discussions between Henderson Global Investors and SunTrust Bank about a partial take over of RidgeWorth Capital Management have ended, Henderson has confirmed.
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ICGN pressures White House on 'proxy access' and majority voting
GLOBAL – The White House is being pressured not to implement a 5% ownership threshold and a two-year holding period for investors to nominate board directors on corporate proxies.
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CalPERS acquires 12.7% stake in London Gatwick Airport
GLOBAL – The California Public Employees' Retirement System (CalPERS) has acquired a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).
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New York State pension fund mulling BP lawsuit
GLOBAL – The New York State Common Retirement fund, one of the largest pension funds in the US, is looking into the possibility of filing a lawsuit against BP for recklessness.
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NewsSpeculators do not drive commodity prices, says OECD
GLOBAL – Increased investment in commodities is not linked to the price volatility of the physical commodities themselves, according to a report from the OECD.
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NewsErste: Only 8% of Austrians see pension funds as 'ideal' retirement vehicle
AUSTRIA – More than half of Austrians no longer believe the state pension will suffice when they reach old age, but faith in second-pillar pensions is even weaker, a poll commissioned by Austrian banking group Erste has found.
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NewsNewAlpha launches fourth hedge-fund seeding fund
EUROPE – NewAlpha, a hedge-fund seeding specialist, has launched its fourth seeding fund.
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NewsEC, ECB and IMF endorse proposed revamp of Greek pension system
GREECE – The European Commission, the European Central Bank and the International Monetary Fund have thrown their weight behind the Greek government's proposed reform of its pensions system.
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NewsIMQubator invests €25m in Asia hedge fund for APG
GLOBAL – IMQubator, the innovation project backed by asset manager APG, has made a €25m seeding commitment in a new macroeconomic Asia hedge fund.
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ABN AMRO scheme recovers from funding and reserves shortfalls
NETHERLANDS – The €9.3bn pension fund of ABN AMRO recovered from a shortfall of its funding and financial reserves due to a 5.8% return on investments, as well as recovering equity markets and rising interest rates last year.
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Most fund managers believe euro-zone equities undervalued, report says
EUROPE – More than half of European fund managers think euro-zone equities are undervalued, according to a survey by Bank of America Merrill Lynch (BofA ML).
