Markets – Page 231
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BGI gets E70bn asset inflow
GLOBAL - Barclays Global Investors gained £48bn (E70.4bn) in net new assets in 2005.
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IPE-QUEST: Canadian firm tenders three briefs
CANADA – A Canada-based investment management firm which serves institutional and high net worth markets has tendered three mandates via IPE-Quest.
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IPE-QUEST: Mideast co. tenders $50m of equities
GLOBAL – An investment company in the Middle East has tendered $50m (€41.8m) in actively managed Middle East and North African equities via IPE-Quest.
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Schroders axed over performance at Cheshire
UK – Schroders has been axed from a £500m (€731m) mandate by the £2bn Cheshire County Council pension fund following poor performance.
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Milk scheme axes MLIM
UK – The roughly £300m (€438m) Milk Pension Fund has fired Merrill Lynch Investment Managers from a £136m global fixed income mandate – awarding the brief to AXA Investment Managers instead.
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Commodities the new hedge funds - Credit Suisse
UK – Commodities could become more popular than hedge funds among institutional investors, according to Credit Suisse.
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Merrill sells MLIM to BlackRock
GLOBAL – Merrill Lynch is to sell its asset management arm Merrill Lynch Investment Managers to BlackRock for a gain of around $1.1bn (€923m).
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ABN Amro AM names investment strategy head
UK – Former World Bank and IMF consultant Richard Duncan has been promoted to head of investment strategy at ABN Amro Asset Management.
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Investor confidence dips, Merrill says
GLOBAL – Investor confidence in Europe dipped this month revealing a slightly pessimistic outlook for economic growth in the region, according to the latest Merrill Lynch Regional Fund Manager Survey.
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Greenalls reviewing investment strategy
UK –Trustees of the Greenalls Group Pension and Life Assurance Scheme – the £250m (€367m) defined benefit fund for the De Vere hotel and travel group - are performing a complete review of the scheme’s investment strategy.
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Hampshire set to overhaul managers
UK – The £2.4bn (€3.5bn) Hampshire County Council Pension Fund is in the process of a complete managerial overhaul as part of a move towards a more specialist approach.
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Staffordshire appoints seven new managers
UK – The £1.8bn (€2.6bn) Staffordshire County Council Pension Fund has appointed six new equity managers and one bond manager following a management shake-up and structure review.
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IPE-QUEST: Danish fund tenders Asian equities
DENMARK – A Danish pension fund has tendered an expected $50m (€41.7m) in Asia ex-Japan equities via IPE-Quest.
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Coal scheme says it lost confidence in GSAM
UK – The £10.1bn (€14.8bn) British Coal Staff Superannuation Scheme has said it cut its £600m global fundamental equity mandate with Goldman Sachs Asset Management because it lost confidence in the product – and that further assets may be “relocated”.
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PGGM fixed income head Schlukebir to leave
NETHERLANDS - Hans Schlukebir, head of fixed income at the €71.5bn Dutch health care sector fund PGGM, is to leave on March 1 after two years in charge of the department.
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IPE-QUEST: Danish fund tenders European equities
DENMARK - Kirstein Finans has tendered €70m in long-only actively managed European equities on behalf of a Danish Pension Fund via IPE-Quest.
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PensionDanmark reports 15.3% return
DENMARK – Blue-collar sector pension fund PensionDanmark has posted a pre-tax investment return of 15.3% for 2005.
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Deutsche unveils €7bn outflows
GERMANY – Deutsche Bank’s asset management division, including private clients and institutions, was hit by €7bn in outflows during the fourth quarter of 2005.
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IBM to transfer German staff to DC plan
GERMANY – IBM’s campaign to slash worldwide pension costs has spread to Germany, with the computer giant aiming to save several hundred million euros by transferring 11,000 employees there from a defined benefit schemes to a defined contribution one.
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Environment Agency tenders €658m (updated)
UK – The roughly £1.3bn Environment Agency Pension Fund has put two mandates out to tender amounting to £450m (€658m). (Updated with new information)
