Markets – Page 196
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ASIP finds median performance at 1.8%
[12:15 CET 26-02] SWITZERLAND – The Swiss pension fund association ASIP calculated a median performance of 1.8% with emerging markets equity and real estate contributing most positively.
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Credit Suisse suspends traders after debt 'mismarking'
[16:15 CET 19-02] SWITZERLAND – Credit Cuisse Group has suspended traders responsible for some of its structured credit facility after the firm discovered positions were overpriced to the tune of $2.85bn (€1.93bn).
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Credit crunch cost $3-4trn – JP Morgan
[14:30 CET 18-02] GLOBAL – JP Morgan officials say investment market turbulence sparked by the US subprime housing crisis may already have cost in excess of $3trn (€2.04trn) in lost credit and warn there could be more to come under tightened credit pricing.
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Germans depart from equities and bonds in 2007
[13:30 CET 18-02] GERMANY – The German association of investment and asset management said Germany’s investment management businesses grew by €60bn to €1.7trn in 2007, despite outflows from equity and bond funds.
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NewsSomerset drops F&C as fixed interest manager
[14:00 CET 15-02] UK – Somerset County Council Pension Fund is looking for a new active fixed interest manager to replace F&C Asset Management.
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Estonia mulls raising equity cap to 70%
ESTONIA – The Estonian ministry of finance is looking at drafting new legislation to allow pension funds to increase their equity investments from 50% to 70%, IPE has learnt.
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Exotic beta is the new alpha
[13:00 CET 11-02] GLOBAL – The quest for alpha is increasingly being replaced by a search for exotic beta as pension funds are losing faith in managers' abilities to really outperform markets.
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AP4 seeks 'standard' framework for passive global equities
[15:00 CET 04-02] SWEDEN – The fourth Swedish buffer fund, Fjärde AP-Fonden (AP4), has issued a tender for a passive global equities mandate valued at around €3bn.
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Football fund fed up with spoil sports
[14:30 CET 01-02] NETHERLANDS – CFK, the €560m pension fund for Dutch professional footballers, is in talks with the regulator to implement an investment maximum to avert further scrutiny from members.
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AP1 taps Axa for equities
[15:30 CET 30-01] SWEDEN – Sweden’s largest buffer fund, AP1 has tapped Axa Rosenberg Investment Management for an $200m Japan broad market equities mandate.
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Funds’ quest for Canadian equity and commodities
[15:00 CET 29-01] EUROPE – Two European pension funds have said they are looking for equity large cap core Canada managers and commodities, using IPE Quest.
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UBS and Schroders sacked for poor performance
[13:00 CET 29-01] UK – Cambridgeshire County Council’s pension fund has dropped Schroders and UBS for underperformance and is now seeking new equity managers to look after half of its assets.
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NewsSpecialist climate change fund unveiled
[16:45 CET 25-01] EUROPE – A fund has been launched which allows institutional investors and pension funds to invest specifically in companies focused on climate change.
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Surrey appoints Newton for global equities
[14:30 CET 24-01] UK – Surrey County Council has appointed Newton Investment Management for a £140m global equity mandate.
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PFA cuts equity exposure over recession fears
[13:00 CET 24-01] DENMARK - Denmark’s PFA Pension made an above-benchmark return on investments of 1.2% in 2007, and has now slashed its equities exposure ahead of the recession it expects to see in the US.
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EC seeks pensions innovations, with guarantees (amended)
[16:00 CET 23-01] EUROPE – Officials at the European Commission and European Parliament have called for the development of innovations and new ideas in pensions delivery which could provide some level of guarantee to retirement incomes but which do not restrict investments to the fixed income market.
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Old Lady extends Northern Rock finance to March
[16:55 CET 21-01] UK – HM Treasury and the Bank of England is to extend the lending facilities to Northern Rock until 17 March under proposals for a new financing structure.
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CEE markets hit by inflation – conference
[16:58 CET 15-01] CEE – Inflation caused by rising food and energy prices in the aftermath of the credit crunch is the main worry of Eastern European economies but for some also a major opportunity, delegates at a conference in Vienna heard today.
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DNB questions pensions focus on market timing
[16:00 CET 15-01] NETHERLANDS - Dutch pension fund managers are unable to predict market movements, and should therefore focus on the best strategic asset allocation and rebalancing, a DNB study suggests.
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Berkshire withdraws Asia-Pacific search
[16:00 CET 15-01] UK – The Royal County of Berkshire pension fund has pulled plans to appoint an Asia-Pacific investment manager.
