Markets – Page 252
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Aviva scheme appoints Nomura for Japanese equity brief
UK – The Norwich Union Aviva Staff Pension Scheme has appointed Nomura Asset Management to manage a Japanese equities brief worth in the region of 100 million pounds (150 million euros).
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Goldman's asset mgmt revenues rise 67%
GLOBAL – Goldman Sachs’ asset management division has posted a 67% rise in revenues in the first quarter.
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NAPF: Bank of England warns of risks in search for yield
UK – The Bank of England has warned about risks in the search for yield – and said it wants to extend its dialogue with asset managers...
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Consultant says it is first to 'cost' fixed income transactions
GERMANY - A German investment consultant has developed what it claims is the first methodology to measure the overall cost of fixed income transactions
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Stopford promoted to Investec fixed income top slot
UK - Investec Asset Management has promoted the head of its South African fixed income team, John Stopford, to head up the firm’s fixed income business.
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AP3 switches US equity portion to Asia-Pacific region
SWEDEN –Sweden’s third national pension fund, AP3, has reduced the size of its 24.7 billion Kronor (2.6 million euros) US mandate by 2.5% of the total portfolio to boost a 930 million kronor (100 million euros) Asia Pacific exposure.
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Schroders loses RSPCA balanced brief
UK - The Royal Society for the Prevention of Cruelty to Animals has appointed Threadneedle Asset Management to run its 68 million-pound (100 million-euro) balanced pension scheme, resulting in a loss for Schroder Investment Management.
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Janus names Goldman’s Black as CIO, president
GLOBAL – Janus Capital Group, facing an estimated 4.5 billion dollars of withdrawals by institutions, has hired Gary Black from Goldman Sachs Asset Management to be its new chief investment officer and president.
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InterContinental awards E147m to Russell
UK - The InterContinental Hotels Common Investment Fund, the chain’s pension fund, has awarded Russell a 100 million-pound (147 million-euro) international equities mandate that amounts to 30% of its total assets.
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New Italian fund Fondapi seeks asset managers
ITALY – Fondapi, the newly licensed pension fund for small and medium companies, is looking for three asset managers for a total of 56 million euros in mandates.
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Royal Bank shifts to specialists in revamp
UK - The Royal Bank of Scotland has hired seven new specialist asset managers in a revamp of its 12 billion-pound (18 billon-euro) pension fund that was previously exclusively managed by Gartmore and Newton.
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European fund tenders $100m via IPE-Quest
EUROPE – A continental European pension fund has tendered a 100 million-dollar (82 million-euro) Japanese equities mandate via IPE-Quest.
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French reserve fund to focus SRI effort in Europe
FRANCE – The 16 billion-euro French reserve fund says it will concentrate its socially responsible investing approach on large-cap European equities at first.
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Investment Solutions nabs Maiden DB brief
UK – Media owner Maiden Outdoor awarded multi-manager Investment Solutions a 10 million-pound (14.8 million-euro) global mandate to manage British Transport Advertising’s closed defined-benefit pension fund.
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SEB says new pension standard to hit profit
SWEDEN – SEB estimates new pension accounting standards will hit 2004 profit by around 250 million crowns (27.2 million euros).
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BGI appoints new global fixed income CIO
UK - Barclays Global Investors (BGI) has promoted managing director Peter Knez to a newly created position of chief investment officer for global fixed income.
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Airbus selects Invesco for employee pre-pension accounts
GERMANY- Aircraft manufacturer Airbus Deutschland has appointed Invesco Asset Management to administer and manage Lebensarbeitszeit-Konten or working-life accounts for its 18,000 employees.
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State Street joins equity trade platform E-Crossnet
EUROPE – State Street Corp. has become a participant and shareholder in the European equity trading platform E-Crossnet.
