Markets – Page 217
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OECD sees “vicious circle” of pension bond demand
GLOBAL – The Organisation for Economic Cooperation and Development says new accounting standards may have set up a “vicious circle” of bond demand from pension funds.
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Ireland’s NPRF re-awards €6bn passive mandates
IRELAND – The €17.5bn National Pensions Reserve Fund has re-awarded €6bn in two passive equity mandates to the incumbent managers Bank of Ireland Asset Management/State Street Global Advisors and Barclays Global Investors.
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New UK pension buyout firm eyes Europe - FT
EUROPE – The new pensions buyout firm Pension Insurance Corp. has gained £1bn (€1.47bn) in financing and may target deals outside the UK, the Financial Times reported.
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IPE-QUEST: Danish fund tenders Europe large caps
DENMARK – Danske Bank is conducting a search for long-only European large-cap equities on behalf of a Danish pension fund via IPE-Quest.
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Extra €75bn goes to external managers - report
EUROPE – European institutional investors have put an extra €75bn with external asset managers, according to consulting firm Greenwich Associates.
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Hermes’ Anson queries private equity fees
UK – Hermes Pensions Management chief executive Mark Anson has called for lower private equity fees, according to reports.
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Pensions driving tenfold rise in swaps – Barclays
UK – Pension fund demand is behind a tenfold increase in inflation-linked swaps activity at Barclays Capital, executives say.
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Bedford tenders £100m in passive UK equities
UK - The £773m (€1.1bn) Bedfordshire Pension Fund is seeking a passive (index-tracking) investment manager for £100m in UK equities.
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More details on €4bn Luxemburg pension tender
LUXEMBURG – The new fund set up to hold Luxembourg’s excess pension revenues has issued a tender looking for fund managers to administer its €4bn in assets.
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Lewisham considers alternative assets
UK – The £505m (€752m) London Borough of Lewisham pension fund is the next in line planning to go into alternative investments.
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Horeca taps SPF for €40m private equity brief
NETHERLANDS – Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering scheme, has awarded SPF Beheer with a €40m private equity mandate, as part of its 5% weighting target in the asset class.
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Warwickshire to put 10% into alternatives
UK - Warwickshire County Council has tendered for up to £100m (€148m) in real estate and fund of hedge funds for the £1bn Warwickshire Pension Fund.
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BankPension awards European equity mandate
DENMARK – The DKR11.4bn (€1.52bn) BankPension, an industry-wide pension fund for employees in the finance sector, will award a Los Angeles-based fund manager with a $10m European equity portfolio.
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Norwegian Global fund reviewing strategy
NORWAY – The NOK1.5trn (€180bn) Norwegian Government Pension Fund is reviewing its “low return volatility” investment strategy, says the central bank.
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Synesis taps Capita, seeks fixed income managers
UK – Synesis Life, the new pensions liability buyout firm, has appointed Capita Hartshead as third party administrator and said it is looking for one or more asset managers with a fixed-income focus.
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Institutional searches picking up – BlackRock
GLOBAL – BlackRock, set to announce a new branding following its merger with Merrill Lynch Investment Management, says institutional search activity is picking up again.
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German institutions eye structured, private equity
GERMANY – Pension funds and insurers are planning more investment in alternatives this year and next, but will only award mandates for structured products and private equity, according to a new survey by German consultant Heissmann.
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SWIP wins rare AMF Pension mandate
SWEDEN – The SEK245bn (€26bn) Swedish fund AMF Pension has awarded a European small-cap mandate to Scottish Widows Investment Partnership worth approximately SEK150m.
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Europe’s investors ‘in love’ with finance stocks
EUROPE – European investors have a “love affair with finance stocks” says Merrill Lynch Investment Manager’s David Bowers, following the firm’s September fund manager survey.
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CEE: Exceptional growth
CENTRAL EUROPE - Central and Eastern Europe's second-pillar pension funds recorded exceptional year-on-year growth in 2005, well ahead of the rise in numbers of clients, despite their relatively conservative investment strategies. There have also been relatively few changes in the rankings compared with 2004. There were no changes in the ...
