Markets – Page 223
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IPe-symposium: APK to up emerging markets
AUSTRIA – APK, the Austrian multi-employer pension fund, is looking to increase its allocation to emerging market equities and bonds “step by step”.
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Italy’s Foncer seeks three managers
ITALY - Foncer, the second pillar supplementary pension fund for workers in Italy’s ceramic tile industry, is looking for three managers for its €70m portfolio.
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Van den Brink likens PME to Harvard and Yale
NETHERLANDS - Roland van den Brink, chief investment officer at the €19bn Dutch metals industry fund PME, has likened his fund to the US university endowments Yale and Harvard.
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DC schemes get low scores from Watson Wyatt
GLOBAL – Watson Wyatt has awarded the current investment sophistication of defined contribution schemes very low grades.
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Legg Mason names Hirschmann as president
GLOBAL - James Hirschmann, chief executive of Legg Mason’s Western Asset Management arm, has been named president of Legg Mason itself.
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IBM Austria pension chief steps down
AUSTRIA – IBM’s pension fund in Austria has disclosed that Axel Benesch has stepped down as its director.
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Allianz’s Faber critical of investment banks
GLOBAL – Joachim Faber, chief executive of Allianz Global Investors, has hit out at investment banks targeting pension fund trustees.
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MLIM loses €537m equity brief at AP4
SWEDEN – Merrill Lynch Investment Managers has been axed from a €537m financial sector equity passive mandate by the SEK180.1bn (€19.2bn) Fourth Swedish National Pension Fund or AP4.
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IPE-QUEST: Three new searches on system
GLOBAL – There are three new searches - for large-cap core equities, developed markets large or all-cap equities and EAFE large-cap or all-cap value – on IPE-Quest.
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10% of large UK schemes now in hedge funds
UK – Some 10% of large UK pension funds now invest in hedge funds, according to a survey by Mercer Investment Consulting.
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NAPF Conference: ESPS’s Barlow on bonds
UK - The idea of pension schemes just getting into bonds and gilts seems "crazy" to Electricity Supply Pension Scheme chief executive Richard Barlow.
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T. Rowe names Kennedy CEO as Roche retires
US – Asset management firm T. Rowe Price Group has named equities chief James Kennedy to be its new president and chief executive when George Roche retires.
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NAPF Conference: Hitchen on flight to bonds
UK - A flight to bonds is short-term thinking, according to Chris Hitchen, chairman of the National Association of Pension Fund's investment council.
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ABN Amro exits Czech asset management
CZECH REPUBLIC – ABN Amro has sold its Czech asset management outfit to two Prague-based firms for an undisclosed amount.
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Nestor stays at Citigroup amid Legg Mason deal
EUROPE – John Nestor, the European head of Citigroup Asset Management, is not joining the outfit’s new parent Legg Mason.
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ABP’s Boogaard joins Straatman at Pearl (updated)
NETHERLANDS – ABP Investments fundamental stock selection fund manager Erna Boogaard has quit to become external management head at Pearl Group – entrepreneur Hugh Osmond’s UK-based life assurance fund investment vehicle. (updated)
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Merseyside tenders European equities
UK – The £3.8bn (€5.5bn) Merseyside Pension Fund is looking for a manager for a £100m European (ex UK) equities mandate.
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Finland’s Keva invests in Hermes European fund
FINLAND – The €17.1bn Finnish Local Government Pensions Institution, Keva, has invested in Hermes’ European Focus Fund.
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IPE-QUEST: Four new searches on system
GLOBAL – There are four new searches - for global fixed income, enhanced equities, euro zone bonds and Russian equities - on IPE-Quest.
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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.
