Markets – Page 239
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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.
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BNP Paribas longevity bond gets no takers
GLOBAL – BNP Paribas says it has not had enough investor interest in its so-called longevity bond for UK pension schemes.
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UK schemes ‘taking €43bn from equity market’
UK - Mercer Investment Consulting says UK pension funds are taking around £30bn (€43.6bn) a year out of equities.
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IPE-QUEST: European scheme tenders up to €150m
EUROPE – A European pension fund has tendered up to €150m in euro zone large-cap core equities via IPE-Quest.
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VW pension managers exit amid probe
GERMANY – The resignation today of Volkswagen’s human resources head Peter Hartz follows that of VW’s Pension Trust director Helmuth Schuster amid a bribery investigation.
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Analysts welcome Deutsche Asset Management exit
UK - Deutsche Bank watchers have welcomed this morning’s announcement that virtually all of Deutsche Asset Management in the UK will be sold to rival Aberdeen, noting that the move gives Deutsche an elegant exit from the business.
