Markets – Page 222
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UK schemes still eye international equities – MAS
UK – The roughly 55%-45% split between UK and overseas equities in many pension fund investment portfolios could be on the road to complete reversal, according to Mellon Analytical Solutions.
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AXA IM posts 25% rise in AUM
GLOBAL – AXA Investment Managers’ assets under management rose 25% to €432bn in 2005, according to the annual results.
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DeAM's Harrison named MPC Investors’ CEO
UK – Peter Harrison, former Deutsche Asset Management global chief investment officer, has been appointed chief executive of MPC Investors and member of the board.
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Delegates vote active managers - IAPF Conference
IRELAND – Delegates to the Irish Association of Pension Funds annual investment conference in Dublin today voted narrowly in favour of using active investment managers.
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Goldman Sachs AM names new Europe head
GLOBAL – Goldman Sachs Asset Management has shuffled its senior management, with European co-head Suzanne Donohoe returning to the US and Stephen Fitzgerald becoming Europe and Asia head.
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Institutions ‘should beware commodity indices’
SPAIN - Institutional investors were put into the dock on their approach to commodities indices, at the World Cup of Indexing Conference.
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BGI introduces Sudan divestment strategies
US - Barclays Global Investors has launched index strategies to help US pension funds to comply with new rules requiring them to divest of companies with ties to Sudan.
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Dutch doctors’ fund interim CIO moves on
NETHERLANDS – Ton Groeneveld, interim chief investment officer at Doctors Pension Funds Services, has left following the appointment of permanent CIO Jan Willem Baan.
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Hewlett in Germany taps GSAM, SSGA
GERMANY – The pension fund for Hewlett-Packard Deutschland has awarded two fixed income mandates to Goldman Sachs Asset Management and one emerging market equity brief to State Street Global Advisors.
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Ex-Watson’s Douse sets up own firm
EUROPE - Former Watson Wyatt partner Sue Douse has opened her own specialist advisory and marketing outfit with institutional funds as its main client base.
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Henderson facing axe at Fife Council
UK – The £950m (€1.4bn) Fife Council Pension Fund has put a roughly £200m global equity mandate out to tender following a review of the scheme’s structure.
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‘Major weaknesses’ in Belgian pension oversight
BELGIUM – “Major weaknesses” in the supervision of pension funds in Belgium have been identified by the International Monetary Fund.
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Big German schemes to avoid new linkers
GERMANY – BVV, Germany’s largest Pensionskasse or traditional pension fund, has no immediate plans to buy the new inflation-linked bonds to be issued by the German government from next week.
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Raise dividends for stable investors, says ABP
NETHERLANDS - Roderick Munsters, chief investment officer at Stichting Pensioenfonds ABP, has urged companies to pay higher dividends to stable investors.
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IPE-QUEST: Seven new searches on system
GLOBAL - There are seven new or recent searches, representing more than €500m in total, currently on IPE-QUEST.
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Norway fund beats benchmark by 1.10 points
NORWAY – The Government Pension Fund – Global returned 11.1% in 2005, 1.10 percentage points above benchmark.
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Xerox scheme taps PIMCO for LDI
UK – The roughly £1.3bn (€1.9bn) Xerox UK Final Salary Pension Scheme has awarded a £260m “cutting edge” liability-driven mandate to fixed income fund management firm, PIMCO.
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TKP equities chief joins Dutch doctors
NETHERLANDS - Lex Ravensbergen, the former head of equities at Aegon Nederland’s TKP Investments, has been appointed as head of financial markets at Doctors Pension Funds Services.
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Lehman nabs Rubenstein for new pensions group
UK – Lehman Brothers has hired Alan Rubenstein, head of Morgan Stanley’s European pensions group, to launch a new pensions group.
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AP3 considering portable alpha
SWEDEN – Tredje AP-fonden, the roughly €20bn Third National Pension Fund/AP3, is currently brainstorming about portable alpha – although there is no guarantee it will be implemented.
