Markets – Page 204
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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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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.
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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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Norwegian fund drops bomb investments
[16:40 CET 11-01] NORWAY – The Norwegian Government Pension Fund – global has withdrawn its investment in three firms producing cluster and nuclear bombs, but decided to continue keep its equity holding in German firm Rheinmetall.
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Pioneer Austria loses €600m in institutional assets
[15:45 CET 11-01] AUSTRIA – Over the last year 2007 Pioneer Investments Austria (PIA) saw outflows of €600m in its institutional business.
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Quest to find EM and Asian equities
[12:45 CET 11-01] DENMARK – Investment consultancy Kirstein Finans has put out a call on behalf of two Danish pension funds, using IPE-Quest, for equity managers interesting in managing emerging markets and Asia-Pacific mandates.
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Investment houses seek improved trading through Chi-X
[16:30 CET 10-01] UK – Alternative trading platform Chi-X Europe, which aims to compete with established European exchanges, has reached agreement with a consortium of shareholders taking a minority stake in the firm.
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Pensions regulation endangers stock exchange - IMF
[14:45 CET 09-01] BULGARIA – Strict pension fund regulations are hampering the development of the Bulgarian stock exchange (BSE) the International Monetary Fund (IMF) has warned.
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NewsStrathclyde reappoints custodian
[14:00 CET 08-01] UK - The £10bn (€13.5bn) Strathclyde pension fund has said it has reappointed its custodian Northern Trust.
