Markets – Page 253
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AP1 may appoint more external managers
SWEDEN – Första AP-fonden, the 148.1 billion-crown (16 billion-euro) first Swedish buffer fund, says it can’t rule out the possibility of hiring more external asset managers – and that it has set up a new external management unit.
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IPE-QUEST: Multi-manager tenders Japan equities
EUROPE - A European multi-manager has tendered an actively managed Japanese large-cap or all-cap equity brief through IPE-Quest.
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Watson, Hewitt involved in Austrian hedge move
AUSTRIA – Consulting firms Watson Wyatt and Hewitt bacon & Woodrow are both involved in an Austrian hedge fund venture launched by Raiffeisen Capital Management.
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European pension funds' role in oil hike unclear
EUROPE - Contrasting views have emerged today about the impact of European pension funds on the current rising oil price.
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HSBC AM hires two European equity managers
UK - HSBC Asset Management has appointed Legal & General’s Simon Sharp and Lazard Asset Management’s Angus Parker as senior European equity portfolio managers in London.
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Benelux private equity market at zero – report
BENELUX – Fundraising in the private equity market in Benelux, valued in billions of euros at its peak a few years ago, saw zero activity in 2003 a new report says.
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Mercer aids London councils’ alternatives move
UK - The pension funds of the London Boroughs of Islington and Brent are considering getting into alternative investments such as real estate, private equities and hedge funds – aided by consulting firm Mercer.
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Invesco German economist Kraemer joins HVB
GERMANY- Invesco Asset Management Deutschland’s Joerg Kraemer is to leave the company to join Munich-based HypoVereinsbank.
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Irish reserve fund plans E400m real estate move
IRELAND - The 10 billion-euro National Pensions Reserve Fund has appointed F&C’s Ian Gleeson as property manager to oversee a planned 400 million-euro real estate allocation.
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Hermes’ Macdonell joins Northern Trust
UK - Northern Trust Global Investments says it has hired Hermes Focus Asset Management’s manager of UK investments, Helen Macdonell.
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E1.2bn county council Warwick revamps
UK - The 800 million-pound (1.18 billion-euro) Warwickshire County Council Pension Fund has reshuffled its asset managers in a revamp.
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European fund managers turn bearish - survey
GLOBAL- European fund managers have succumbed to the same bearishness as their colleagues worldwide, Merrill Lynch’s monthly survey of fund managers has found.
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UK pension assets rise 16% to E1tn – report
UK – Pension fund assets in the UK have risen 16% to 709 billion pounds (1.06 trillion euros) as at the end of 2003, according to a new report.
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Schroders loses E5.9bn in UK balanced mandates
UK – Schroders says it lost four billion pounds (5.9 billion euros) in balanced mandates in the first half as UK clients continued to restructure their portfolios – but added the revenue impact is “limited”.
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HSBC AM names global fixed income head
GLOBAL – HSBC Asset Management has named a former Citigroup and Credit Suisse Asset Management executive, Gregg Diliberto, as its new global head of fixed income.
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Alternative ‘wall of money’ not seen – Mercer
GLOBAL – Mercer Investment Consulting says the predicted “wall of money” into alternative assets such as hedge funds has not materialised – in part due to the lack of transparency, costs and governance problems.
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Alternatives 71% of new UBS institutional assets
GLOBAL – More than 70% of the new institutional assets at UBS’s asset management arm in the second quarter were inflows into its alternative and quantitative business.
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French SRI market enters maturity – Novethic
FRANCE - The French Socially Responsible Investment market has entered a “first phase of maturity” after recording 75% growth in 2004, said Caisse de Depots subsidiary Novethic.
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Zurich fund CSIF postpones independence
SWITZERLAND – The continued coverage deficit at the 16.95 billion-franc (11 billion-euro) Canton of Zurich Civil Service Insurance Fund means its planned independence has been postponed, possibly for years.
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France’s Pro-BTP eyes new scheme
FRANCE – Construction industry scheme Pro-BTP is in the process of setting up new forms of savings based on the principle of capitalisation.
