Markets – Page 233
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PIMCO awarded HSBC emerging market brief
UK – PIMCO Europe says it has been awarded an emerging market mandate of undisclosed size from the trustees of the HSBC International Staff Retirement Benefit Scheme.
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DeAM unveils German multi-manager funds
GERMANY - Deutsche Asset Management has rolled out the first of two multi-manager funds for the German-speaking institutional market, yet no longer believes demand for the funds will be as robust as previously estimated.
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Goldman: pension funds to sell €250bn of equities
GLOBAL – Goldman Sachs has estimated that pension schemes globally will remove some €250bn from equities – and buy around €150bn in fixed income.
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Mellon, WestLB in German asset management tie
EUROPE – Mellon Financial Corp. has reached agreement with German Landesbank WestLB to launch a 50-50 joint asset management venture from January 2006.
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European funds taking less risk – State Street
EUROPE – European institutional investors are currently taking less risk in the equities market – instead they are ploughing cash into the fixed income market, according to State Street’s investor confidence index.
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Goldman Sachs AM gets €14.8bn inflows
GLOBAL – Goldman Sachs’ asset management business had $18bn (€14.8bn) of net asset inflows in its fiscal third quarter.
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German asset managers still bullish despite vote
GERMANY – Asset managers in Germany are still bullish on German equities despite the election uncertainty.
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IPE-QUEST: Danish manager tenders €30m
DENMARK – Consulting firm Kirstein Finans has tendered €30m in pan-European equities on behalf of a Danish asset manager via IPE-Quest.
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IPE-QUEST: €30m in European equities tendered
EUROPE – Swiss investment consultant Kottmann Advisory has tendered a €30m actively managed pan-European equities brief via IPE-Quest on behalf of a client.
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AP3 tenders for risk system
SWEDEN – Tredje AP-fonden, the SEK175.8bn (€18.9bn) Third National Pension Fund, has started looking for new risk analysis solutions.
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Russell predicts new alternative investing highs
GLOBAL – Hedge fund use by European institutions has increased dramatically in 2005. Their use by continental respondents to the Russell Investment Group’s seventh annual report on alternative investment the doubled to 48% from 24% in 2003.
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Threadneedle names UK institutional head
UK – Threadneedle Investments has named Madeline Forrester as its new head of UK institutional business, effective immediately.
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Multek awards pensions brief (Correct)
GERMANY – State Street Global Advisors(SSGA) has just been awarded a multi-asset pensions mandate by the German branch of the multinational company Multek, based in Boeblingen, Germany (Clarifies pensions).
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KAS releases buoyant half-year figures
NETHERLANDS – KAS Bank has reported a €3.9mn increase in commission in the group’s half-year figures released today - an 11.5% increase on the same figures in 2004.
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IPE publishes Top 1000 European Pension Funds
EUROPE – Investment & Pensions Europe has published Europe’s Top 1000 for 2005, a listing of the largest schemes in Continental Europe and the UK.
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Dutch rail scheme SPF hires PGGM’s Varkevisser
NETHERLANDS – The €10.4bn Dutch railway pension scheme SPF has just appointed PGGM’s Jan-Theo Varkevisser as portfolio manager for fixed income and the treasury.
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Robeco sees “disappointing” asset inflow
NETHERLANDS – Robeco, the asset management arm of Rabobank, had a disappointing inflow of new assets in the first half of the year – hit by US outflows.
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Petercam hit as multinationals revamp mandates
BELGIUM – The globalisation of pension funds by multinational companies cost Petercam Asset Management two to three mandates over the past year.
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AXA Rosenberg bags €98.3m Shropshire brief
UK - AXA Rosenberg says it has won a European ex-UK equities mandate worth €67m (€98.3m) from the Shropshire County Pension Fund.
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UK’s BBC drops DeAM for NewSmith
UK – The BBC says its £6.4bn (€9.4bn) pension scheme has dropped Deutsche Asset Management in favour of NewSmith due to an underperformance on investment targets.
