Markets – Page 241
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ABP to name new bond managers by third quarter
NETHERLANDS – Stichting Pensioenfonds ABP, the €168bn scheme for Dutch civil servants is looking for “a couple” of managers to build up its global alpha fixed income fund, according to a senior official.
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JP Morgan’s Reichl joins Bayern-Invest
GERMANY - German institutional fund manager Bayern-Invest has recruited a senior executive from the German arm of JP Morgan for a new seat on its management board.
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Deutsche revamps Swiss asset management
SWITZERLAND - Deutsche Bank has revamped the executive team at its Swiss asset management divisions DWS and Deutsche Asset Management.
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Dutch building fund changes name, seeks clients
NETHERLANDS - The Dutch social fund for the building industry, or SFB, has changed its name and says it will intensify its efforts in finding new clients.
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Volkswagen Pension Trust in revamp (Update)
GERMANY - Volkswagen Pension Trust, the pension fund for the German car giant, has completed a sweeping revamp of the way its €1.5bn in pension assets are invested (Updates with clarification, fresh edit).
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Credit Agricole AM London chief leaves
UK – Ian McEvatt, chief executive of the London branch of Crédit Agricole Asset Management is to leave and be replaced by investment chief Bruno Crastes.
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Morley to manage €145.3m for Kelda
UK - Morley Fund Management says it has been awarded a £50m (€72.6m) fixed income mandate and a £50m indirect property mandate by Kelda Group Pension Plan.
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Breedon’s promotion leaves gap at LGIM
UK – Tim Breedon, group director of investments at Legal & General Investment Management, is to take over from L&G group chief executive David Prosser.
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Rabobank pension fund yields 9.3%
NETHERLANDS - The pension fund of Dutch financial services group Rabobank made a return of 9.3% in 2004 – the same as 2003.
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IPE-QUEST: Dutch fund tenders €150m
NETHERLANDS – A Dutch pension fund has tendered three equity mandates totalling up to €150m via IPE-Quest.
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McAlpine taps SEI for equities
UK –Alfred McAlpine Pension Trustees has awarded SEI Investments a £45.6m (€66.3m) global developed markets equity mandate.
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Equities forgotten as UK schemes shift €58bn
UK – Equities are becoming the “forgotten asset class” as UK pension schemes shifted £40bn (€58.3bn) out of stocks into bonds last year.
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MLIM’s Germany sales head joins AXA
GERMANY - Frank Richter, director of institutional sales for Germany and Austria at Merrill Lynch Investment Managers, is to join AXA Investment Managers.
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Commodities need governance - consultant
UK - Lack of time and resources are among the factors behind the lack of development in commodities in the UK, according to a Watson Wyatt consultant, Alasdair Macdonald.
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IPE-Quest: Swiss manager tenders €150m
SWITZERLAND – A Swiss asset manager has tendered the management of a €150m quantitative global equities portfolio via IPE-Quest.
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Watson Wyatt questions TAA overlay
GLOBAL - Consulting firm Watson Wyatt has queried the use of tactical asset allocation, saying the evidence to support TAA is "mixed", especially when used to overlay a total fund.
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IPE-Quest: Swiss scheme tenders US equities
SWITZERLAND – A Swiss pension Fund has put out a request for tender for actively managed US small- to mid-cap equities via IPE-Quest.
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German BVI sees no need to regulate hedge funds
GERMANY - Fund industry association BVI has urged the government not to tighten regulation of hedge funds active in Germany, arguing that current rules are sufficient.
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IPE-QUEST: Swiss fund tenders US large-caps
SWITZERLAND – A Swiss pension fund has tendered a $6m (€4.75m) actively managed US large-cap equities mandate via IPE-Quest.
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Pensions a “massive market” says Allianz
GERMANY - German insurance giant Allianz says the private retirement field is a “massive market”.
