Markets – Page 226
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MSIM hires ex-GSAM European equities co-CIO
EUROPE - Hywel George, former co-chief investment officer of European equities at Goldman Sachs Asset Management, has joined rival Morgan Stanley Investment Management.
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ABP cuts pension premiums in unexpected move
NETHERLANDS – ABP, the largest Dutch pension fund, says its pension costs for members will be lower than last year.
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Lloyd’s scheme opts for Northern Trust
UK – The £365m (€534m) Lloyd’s Superannuation Fund has awarded an exclusive global custody and performance measurement brief to Northern Trust.
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Petroleum Fund funds seven new mandates
NORWAY – The NOK1.28trn (€161.3bn) Petroleum Fund transferred capital into two fixed income and five equity mandates in the third quarter.
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EADS taps Invesco for overtime accounts
GERMANY – European aerospace and defence giant EADS has confirmed that Invesco’s German arm will set up and manage so-called “overtime accounts” for all its employees in Germany.
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BASF’s Belgian pension director steps down
BELGIUM – Sven Van Wichelen, director of the Belgian pension fund for German chemical giant BASF, is stepping down as of 1 December, the fund has confirmed.
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SEI sees 25% European growth
EUROPE – SEI, the US-based multi-manager fund provider, expects to grow its business in Europe by 25% annually, with nearly all of that growth taking place in the UK, its managing director for Europe says.
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IPE-QUEST: Danish fund tenders Japan equities
DENMARK – Kirstein Finans has tendered up to €100m in large-cap Japanese equities on behalf of a Danish pension fund via IPE-Quest.
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Capital International targeting Eastern Europe
EUROPE – Capital International, the reclusive asset manager that has been hit by some client withdrawals recently, says Eastern Europe is an area of “significant potential and interest”.
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Allianz Global Investors names top execs
EUROPE - Allianz Global Investors has made some senior appointments as it unveils its new European subsidiary.
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State Street fined $1.4m for trading violations
US – State Street has been fined a record $1.4m (€1.2m) by markets regulator NASD over violations in bond trade reporting.
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Horeca in €100m private equity move
NETHERLANDS - The €2bn Dutch hotel and catering scheme, Pensioenfonds Horeca en Catering, has awarded two €50m private equity mandates to Goldman Sachs Private Equity Group and HarbourVest Partners.
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IPE-QUEST: North American equities tendered
DENMARK - Kirstein Finans has tendered around $100m (€85.4m) in active North American small/mid-cap equities via IPE-Quest.
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Pictet names Northern Europe sales chief
EUROPE – Gerrit Van Gorp, former senior director and head of credit derivatives at Dow Jones Indexes, has been appointed by Pictet Asset Management to be its new head of business development for Northern Europe.
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Institutions pull €1.8bn from Schroders
UK – Schroders plc says it lost a net £1.2bn (€1.78bn) in institutional assets under management in the three months to the end of September – although asset management profit and revenue were both up.
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Bond switch could cut UK profits – consultant
UK – A wholesale shift by pension funds away from equities to bonds prompted by liability-driven investing could cut UK corporate profits by billions of pounds, according to consulting firm Pension Advisor Review.
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IPE-QUEST: €100m in emerging markets equities
GLOBAL – Kottmann Advisory has tendered €100 in actively managed global emerging markets equities on behalf of a pension fund client via IPE-Quest.
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BGI looking for equity CIO as Annable exits
GLOBAL – Matthew Annable, European chief investment officer for active equities at Barclays Global Investors, is to leave next year in a “lifestyle change” – but his successor has not yet been chosen.
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Sweden's FI amends traffic-light model
SWEDEN – The Swedish Financial Supervisory Authority, or Finansinspektionen, has amended the so-called traffic light model following consultation.
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Buckingham cuts Capital mandate in revamp
UK – The £874m (€1.3bn) Buckinghamshire Pension Fund has cut Capital International’s equities mandate by just over 20% due to poor performance results, and appointed five new fund managers.
