Markets – Page 240
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DeAM Germany chief Behrens quits to join Deka
GERMANY – Oliver Behrens, head of Deutsche Asset Management in Germany, is to join the management board of fund provider DekaBank.
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BT scheme eyes commodities by end-2005
UK – The £50bn (€74.2bn) pension scheme of phone firm British Telecom may allocate a “single figure” percentage of its assets to commodities from its equity portfolio by the end of the year.
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Petroleum Fund gets “substantial” oil price boost
NORWAY – The Norwegian central bank says higher oil futures prices have led to a “substantial” increase in the expected value of Petroleum Fund.
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CEIOPS highlights interest-rate volatility
EUROPE – CEIOPS, the European pensions supervisory committee, has highlighted that marking liabilities to market values means that interest rates will become a “real element” in pension fund risk management.
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French reserve fund to invest €600m in SRI
FRANCE - The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has started to select managers for up to six socially responsible investing mandates worth a total of €600m.
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WestLB enters multi-management market
UK - WestAM, the asset management arm of German bank WestLB, has brought in a former director at MM Asset Management in the UK to lead its foray into the multi-management fund business.
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Citigroup exits asset management business
GLOBAL – Citigroup has confirmed it is exiting the asset management business in a $3.7bn (€3.1bn) deal with Legg Mason.
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Henderson names Germany sales head
GERMANY - Henderson Global Investors has named Uwe Diehl to head of sales for Germany and Austria.
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IPE-QUEST: Dutch fund tenders Japanese small-caps
NETHERLANDS – A Dutch consultant has tendered up to two Japanese small cap equities mandates on behalf of a Dutch pension fund via IPE-Quest.
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Watson’s Urwin doubts hedge fund capacity
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the performance of fund of hedge funds is “in doubt” due to a lack of capacity at some of the managers.
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West Midlands scheme recruiting two managers
UK – The £5.4bn (€8.07bn) West Midlands Pension Fund is looking for two internal equity investment managers following an internal restructuring.
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DeAM loses Lincolnshire brief to Martin Currie
UK – Deutsche Asset Management has lost an active UK equity brief to Martin Currie Investment Management after the £840m (€1.2bn) Lincolnshire County Council pension fund changed its performance target.
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Dutch system seen as global pension leader
NETHERLANDS – “The Dutch pensions industry had come from being a virtually unknown pension power 10 years ago, to being the global pension revolution leader today,” said Keith Ambachtsheer, academic and strategic adviser to pension plans.
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MN Services changes management structure
NETHERLANDS – Dutch pension manager MN Services has named Wouter Pelser as co-head of asset management in a bid to enhance efficiency.
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Hedge funds own 3.8% of UK market – SSGA
UK – State Street Global Advisors says it estimates that hedge funds own around 3.8% of the UK equity market.
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Henderson loses out in North Yorkshire revamp
UK – The £880m (€1.31bn) North Yorkshire Pension Fund has dismissed Henderson Global Investors from a balanced mandate worth 22% of the fund.
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Europe the driver for State Street, says CEO
UK – State Street Corp. is seeing its most dramatic growth in Europe, says chairman and chief executive Ron Logue.
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South Yorkshire scheme loses team member
UK – The South Yorkshire Pensions Authority, which manages £2.7bn (€4bn) of assets, is looking for an investment manager following the departure of one of its six-strong investment team.
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IPE-QUEST: Dutch scheme tenders portable alpha
NETHERLANDS – A Dutch investment consultant has tendered a multi-asset class portable alpha mandate worth at least €15m via IPE-Quest.
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Lothian scheme awards £380m equities mandates
UK - The £2bn (€2.98bn) Lothian Pension scheme has appointed three new fund managers to run a total of £380m in global and Europe (ex-UK) equities.
