Markets – Page 220
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UK: General trend into bonds
UK - Recent years have seen a general trend within the UK pensions industry from equities into bonds, according to Joanne Segars, incoming chief executive at the National Association of Pension Funds (NAPF).
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Germany: Book reserves still common
GERMANY - Although there are five different ways of creating an occupational pension the most common, with more than 50% of all pension assets and totalling around €400bn, is still through the book reserves of the employer, according to Klaus Stiefermann, general manager of the Association of Company Pension Schemes ...
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IPE-QUEST: Three new fixed income searches
SWITZERLAND – There are three new fixed income searches from Swiss institutional investors on the IPE-Quest system.
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USS drops GSAM and LGIM
UK – The £22bn (€32.6bn) Universities Superannuation Scheme has dropped Goldman Sachs Asset Management (GSAM) and Legal & General Investment Management as external managers to take more assets in-house.
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Bexley, Lincolnshire name new managers
UK – The Bexley and Lincolnshire local authority pension funds have separately named new asset managers.
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Denmark’s Lærernes hires PanAgora for US mid-caps
DENMARK – The DKK20bn (€2.7bn) Danish pension fund Lærernes Pension (Teachers’ Pension and Life) has appointed PanAgora Asset Management for $50m (€36.4m) in US mid-cap equities.
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JP Morgan ousts Wellington at Merseyside
UK - The £3.8bn (€5.5bn) Merseyside Pension Fund has appointed JP Morgan Asset Management for its newly created £100m European (ex-UK) equities mandate.
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Henderson posts €4.3bn institutional outflow
UK – Henderson Global Investors had a £2.9bn (€4.3bn) outflow of institutional assets in the first half of 2006, the company said in its first-half report.
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Rentokil details asset revamp
UK – Pest control firm Rentokil Initial, which is the process of closing its defined benefit pension fund, has revealed more details about the scheme’s switch into bonds.
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IPE-QUEST: Three new searches on system
GLOBAL – There are three new searches by European pension funds for euro zone debt, pan-European equities and currency alpha on the IPE-Quest system.
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Clywd scheme goes unconstrained
UK – The £800m (€1.2bn) Flintshire County Council Clwyd Pension Fund has tendered a total of £145m in unconstrained fixed income and equities.
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SWIP names Davidson global bond chief
UK – Rod Davidson has been appointed as Scottish Widows Investment Partnership’s new global head of fixed income, the company said today.
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UBS institutional AUM assets slip €9.5bn
SWITZERLAND – Institutional assets under management at UBS Global Asset Management slipped by CHF15bn (€9.5bn), or 3%, in the second quarter to CHF451bn due to currency and market effects.
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CalPERS names bond, real estate managers
US – California’s $205bn (€160bn) public pension giant CalPERS has named 16 managers for international fixed income, real estate equities and US global equities.
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Dresdner offers schemes new volatility funds
EUROPE – Dresdner is to launch two equity volatility funds aimed at pension funds and insurance companies next month.
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IPE-QUEST: UK insurer tenders convertible bonds
UK – A UK insurance company has tendered up to $100m (€77.7m) in convertible bonds via IPE-Quest.
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SSGA facing loss of $13bn CalPERS index brief
US – California pension giant CalPERS is considering terminating State Street Global Advisors from a $13bn (€10.2bn) international equity index mandate.
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Luxembourg FDC scheme in €4bn tender
LUXEMBOURG – The new fund set up to hold Luxembourg’s excess pension revenues is looking for managers to administer its €4bn in assets, excluding real estate and loans.
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Deutsche suggests FX can save pensions
GLOBAL – Deutsche Bank says currencies can be the saviour for unfunded pension plans.
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Dutch pension funds ‘add to tax volatility’
NETHERLANDS – The unique nature of the Dutch pension system has contributed to higher volatility in the government’s tax revenues, according to a new report.
