Markets – Page 233
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Danica Pension makes 8.5% return in first half
DENMARK – Danica Pension, the pension and life insurance arm of Danske Bank, made an 8.5% return on assets in the first half of 2005.
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IPE-QUEST: Danish fund tenders €134m
DENMARK - A Danish pension fund has tendered an active global developed markets equities mandate worth up to DKK1bn (€134m) via IPE-Quest.
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Blue Sky hires ex-Dutch bond agency official
NETHERLANDS – Blue Sky Group, which manages the pension assets of airline KLM, has hired a former official of the Dutch State Treasury Agency.
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Ex-Petercam exec starts asset mgmt consultancy
NETHERLANDS - Former Petercam Netherlands managing director Edwin Klaver says he has started his own asset management consultancy, aimed at professional investors.
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Bayer gains €200m from shift to DC in the US
GERMANY – Industrial giant Bayer expects to gain a one-time bonus of €200m in the third quarter, mostly as a result of changes to its US pension plan.
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Coats Pensions chairman Dow steps down
UK – Sam Dow, chairman of board of Coats Pensions Trustee Ltd., has stepped down to be replaced by Laurie Todd of Guinness Peat Group, according to the scheme’s web site.
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Essex scheme set to change asset allocation
UK – The more than £2bn (€2.9bn) Essex County Council Pension Fund says it is poised to change its asset allocation as soon as possible.
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Pearson pension scheme manager retires
UK – Pam Jenkins, secretary and manager of the £1bn (€1.5bn) defined benefit group pension of publishing group Pearson, has retired.
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Schroders’ Zerner joins Lazard AM as marketer
UK - Lazard Asset Management has appointed Schroder Investment Management’s Mary Zerner as head of central marketing services.
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Britannic AM makes international hire
GLOBAL - Britannic Asset Management has appointed Michael Borkan, senior vice-president at Sinopia Asset Management, to develop its institutional and retail distribution outside the UK.
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EU must develop fund market for pensions - IMF
EUROPE – The European market for investment funds needs more work in the face of shifting demographics and the need for retirement savings, says the International Monetary Fund.
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Nestlé’s Spanish scheme eyes infrastructure
SPAIN - The €250m Spanish pension fund of Swiss-based food giant Nestlé says it may turn to infrastructure investments in its quest to broaden investments allocation.
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ABN Amro sees asset outflow amid review
NETHERLANDS – Dutch banking group ABN Amro says there may be an outflow of assets under management as it reviews the profitability of some mandates and products.
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Staffordshire scheme revamps managers
UK – The £1.7bn (€2.5bn) Staffordshire County Council Pension Fund has revealed a sweeping revamp of its investment manager roster.
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Feri consultants join Watson’s German practice
GERMANY - International consultant Watson Wyatt has hired Feri Institutional Management’s Jürgen Heiny and Zeljko Tipuric, for its Investment Consulting practice in Germany.
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Investment funds enjoy boom - Feri
EUROPE – Investment funds in Europe are having a boom year, with the total inflows by end of May of €151bn already ahead of the total invested in all of 2004 of €133bn, according to latest figures from Feri Fund Market Information in London.
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IPE-QUEST: €10.6bn fund tenders hedge funds/TAA
EUROPE - A $13bn (€10.6bn) European pension fund has tendered for up to five global macro hedge fund/tactical asset allocation (TAA) overlay managers via IPE-Quest.
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The balanced mandate is back, industry says
UK – The traditional balanced mandate appears to be making a return, albeit under a new guise, according to investment consultants and asset managers.
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Denmark’s PKA grows to more than €13bn
DENMARK – Pensionskassernes Administration, the third largest pension provider in Denmark, says its first-half return of 12.1% has taken its market value to more than DKK100bn (€13.3bn).
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Union Investment unveils private pension
GERMANY - Union Investment says it's the first asset manager in Germany to rollout a private pension targeted at pensioners and others above the age of 55.
