Markets – Page 238
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IPE-QUEST: Swiss consultant tenders two mandates
SWITZERLAND – Lugano-based investment consultant Kieger has tendered two mandates worth up to a combined $100m on behalf of clients via IPE-Quest.
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Irish postal scheme in €1.6bn revamp
IRELAND – The €1.6bn pension scheme of the Irish postal service An Post has restructured its manager roster with the help of consulting firm Mercer.
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‘No reason to celebrate’ for Swiss funds
SWITZERLAND – Despite a more than 6% return in the first half, Swiss pension funds have no reason to celebrate due to low bond yields, says the Swiss pension fund association ASIP.
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Mellon eyes stake in WestAM – FT
GERMANY – Mellon Financial Corp. is considering taking up to a 50% stake in WestAM, a German institutional fund provider that specialises in fixed income, according to the Financial Times.
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IPE-QUEST: Dutch scheme tenders up to €150m
NETHERLANDS – A Dutch pension scheme has tendered up to €150m in UK equity large-cap core equities via IPE-Quest.
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AP2 raises stake in Skandia
SWEDEN – Andra AP-fonden, the Second National Swedish Pension Fund, has raised its stake slightly in insurance group Skandia.
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Mercer hires Clarke for European research
EUROPE – Mercer Investment Consulting says it has hired Watson Wyatt’s Debbie Clark as a member of its European manager research team.
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Norwegian pension premiums set to rise, says KLP
NORWAY – Pension premiums are set to rise in Norway if the authorities decide to cut the maximum basic rate even further, occupational pensions provider KLP says.
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GSAM says it wins €785m from local authorities
UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Skandia hands €500m equities brief to NTGI
SWEDEN – Skandia Liv has handed a €500m passive international equities mandate to Northern Trust Global Investments.
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Low rates hit German industry schemes
GERMANY - German industry schemes known as Versorgungswerke have reported a slight decline in the annual return on their investments owing to low interest-rates.
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Delta Lloyd hit by €240m mandate loss
NETHERLANDS – Delta Lloyd says its flow of new investments “fell back” in the first half – partly due to the withdrawal of a €240m mandate.
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Management change at Dutch pharmacists’ fund
NETHERLANDS - Marcellino Kropman is to take over from Dick Wenting as director of the €776m Dutch Pension Fund for Pharmacists’ Employees, or PMA.
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Hewitt’s Farquhar hire is response to bond shift
UK – Hewitt Associates said its decision to hire former Lombard Odier Darier Hentsch fixed income head Christine Farquhar is a response to pension fund demand for fixed income.
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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.
