Markets – Page 231
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SVM expands into Europe
UK – SVM Asset Management, the boutique Edinburgh based independent fund management group, is looking to increase its European institutional business following a year of strong performance in European equities.
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ABN Amro appoints EAFE chief
UK – ABN Amro Asset Management has appointed Andrew King as the new head of Europe, Australasia and Far East (EAFE) portfolio management and head of North American equities.
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Credit default swaps trades surge in 2005
UK - The average number of credit default swaps (CDS) trades executed each month increased by 89% during 2005, according to London-based Markit Group’s annual ‘scorecard’ of market volumes in credit derivatives.
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Lincolnshire County scheme tenders equities
UK – The £1.1bn (€1.6bn) Lincolnshire County Council Pension Fund has launched a tender process for a global active equity manager, putting incumbent manager Bank of Ireland Asset Management under the spotlight.
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Sweden: PPM savers get 30% average return
SWEDEN – Five and a half million Premium Pension Authority (PPM) savers enjoyed an average return of 30% in 2005.
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Nobel laureate Merton says LDI “ill-conceived”
GLOBAL – Nobel Prize-winning economist Robert Merton has said immunizing pension obligations through liability driven investment strategies is “ill-conceived”.
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IPE-QUEST: Danish fund tenders emerging markets
DENMARK – Kirstein Finans has tendered €70m in long-only emerging market equities on behalf of a Danish pension fund via IPE-Quest.
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Germany’s ZF taps Allianz for DC advice
GERMANY – Auto component maker ZF Friedrichshafen is to take advice on two new defined contribution pension plans from consulting firm Allianz Pension Partners.
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CAPS says UK equity weightings at new low
UK – Balanced pooled funds’ UK equity weightings are at a new low, according to the latest CAPS pooled pension fund update.
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Horeca moves into commodities
NETHERLANDS - Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering scheme, has awarded a passive commodities mandate to Western Asset Management.
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PGGM names new head of strategy & research
NETHERLANDS – PGGM, the Dutch health care pension fund, has named Jaap van Dam as head of strategy and research.
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Unilever sets up €5bn asset pooling vehicle
EUROPE – Consumer products group Unilever has set up a pension asset pooling vehicle called Univest which could grow to around €3-5bn in size.
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IPE-QUEST: Nordic bank seeks sub advisor
NORDIC – A Nordic bank has tendered an initial $80m sub- advisory mandate via IPE-Quest.
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Goldman Sachs AM gets $8bn inflow in quarter
GLOBAL – Goldman Sachs Asset Management had a net asset inflow of $8bn (€6.7bn) in the fourth quarter of 2005 – taking its total inflows in the year to $63bn.
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IPE-QUEST: Swiss fund tenders small caps
SWITZERLAND – A Swiss pension fund has tendered a pan-European small-cap equities via IPE-Quest.
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DeAM, Trinkaus in running for Henkel CTA
GERMANY – Industry sources say Deutsche Asset Management and HSBC’s Trinkhaus Capital Management may be in line to advise chemicals firm Henkel on its planned contractual trust arrangement – an external fund to finance more than €1bn in pension liabilities.
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CalSTRS in $3bn emerging market move
GLOBAL – California teaching pension fund CalSTRS has picked five asset managers to run around $3bn (€2.5bn) of emerging markets assets.
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Ilmarinen’s Puhakka to join OKO Pohjola AM
FINLAND – Jari Puhakka, head of securities at Ilmarinen Mutual Pension Insurance Co., has left to join the new OKO-Pohjola Asset Management Co.
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Dutch schemes losing out on bonds - statistics
NETHERLANDS – Dutch pension funds and insurers’ fixed income portfolios returned –0.2% in the third quarter of 2005, according to the national statistics office.
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IPE-QUEST: European bank seeks Japan advisor
EUROPE – A European bank has tendered for a Japanese equities advisor via IPE-Quest.
