Markets – Page 254
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Air workers fund Prevaer tenders balanced briefs
ITALY - Airport workers’ industry-wide pension scheme Prevaer has tendered three balanced mandates worth around an expected six million euros each.
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CIOs see 32% rise in hedge fund assets
EUROPE – The chief investment officers at European and US investment managers expect a 32% rise in hedge fund assets under management in the next year, according to a new survey.
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Dutch pension fund tenders E20m via IPE-Quest
NETHERLANDS – A Dutch pension fund has tendered two mandates for pan-European small-cap equities and global high-yield fixed income, worth 10 million euros each, via IPE-Quest.
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AP3 fires Schroders from Japanese equity brief
SWEDEN – AP3 has fired Schroder Investment Management from managing around 200 million euros in Japanese equities - though the UK asset manager will remain in the fund's manager pool.
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ABN Amro sees “major opportunity” in asset mgmt
NETHERLANDS – ABN Amro says it sees a “major opportunity” in investment management, although profits at its asset management unit fell by more than five percent in 2003.
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Finnish pension assets rise to E78.6bn - TELA
FINLAND – Total Finnish pension assets, which includes pension funds, insurance companies and pension foundations, have risen to a total 78.6 billion euros at the end of 2003, from 70.9 billion euros at the end of 2002, the Finnish Pension Alliance, TELA, said.
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Henderson, UBS under scrutiny as Warwick revamps
UK - Warwickshire County Council‘s 660 million-pound (966 million-euro) pension scheme is restructuring - looking for new asset managers and a single global custodian.
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Fonchim re-tenders after “insufficient” response
ITALY- The 800 million-euro Italian pension scheme for chemical workers, Fonchim, has re-tendered five mandates.
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Netherlands: Hermes hires ex-SPF CEO de Koning
NETHERLANDS - London-based pension fund manager Hermes has hired former Dutch railway pension fund executive Peter de Koning.
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Henderson European equities director Elwes leaves
UK – Ben Elwes, director of European equities at Henderson Global Investors, has left and been replaced by Andrew Koch from HSBC Asset Management.
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Standard Life Investments names acting CEO
UK – Standard Life Investments has named its chief investment officer Keith Skeoch as acting chief executive following Sandy Crombie’s appointment as CEO of the parent company.
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ABP explains reasons for sticking to asset mix
NETHERLANDS – A top manager at the Dutch civil service pension fund ABP has expanded on the reasons why the 150 billion-euro fund has stuck with its long-term asset allocation.
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Isis to apply SRI to corporate bonds
EUROPE – Isis Asset Management says it will apply engagement methods to rate corporate bonds on socially responsible investing criteria.
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Accounting changes pressure Dutch funds
NETHERLANDS - Changing accountancy rules, to be implemented in 2005, will have a negative effect on the coverage ratio of industry-wide and corporate pension, according to new research.
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Scandinavian fund tenders equities via IPE-Quest
SCANDINAVIA – A Scandinavian pension fund has tendered up to 100 million dollars in Asia-Pacific equities and up to 50 million dollars in emerging markets equities via IPE-Quest.
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PIMCO hires Bentley from Morley Fund Management
UK – Allianz’s PIMCO has hired Peter Bentley from Morley Fund Management as UK corporate bond portfolio manager.
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Denmark’s PKA awards US small-caps to Russell
DENMARK - The €9.7bn pension administration company Pensionskassernes Administration has awarded Russell a US small-cap equities mandate worth around $140m (€110m)
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Watson Wyatt hires Deloitte’s Gavanou
FRANCE - Watson Wyatt has hired Jean-Francois Gavanou from Deloitte & Touche’s Paris office as a senior consultant.
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Abbey confirms job losses in outsourcing plan
UK – Abbey National has confirmed that jobs will go as it plans to outsource most of the in-house fund management of its 29 billion-pound (42 billion-euro) portfolio.
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Ex-SGAM equities chief Taylor joins GAM
UK – Sean Taylor, the former head of global equities at SG Asset Management, has joined UBS unit GAM as investment director.
