Markets – Page 256
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French reserve fund says 137 managers reach 2nd stage
FRANCE - The French Pension Reserve Fund has now completed the first phase of its 16 billion-euro tender process - with 137 of the 410 applications going through to the second phase.
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T. Rowe Price investment chief Testa retires
US - T. Rowe Price says chief investment officer David Testa is to retire and be replaced by 22-year company veteran Brian Rogers.
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Goldman Q4 asset management revenues rise
US – Goldman Sachs says its revenues from asset management rose 33% in the fourth quarter.
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SWIP hires Barings’ Ortving as Nordic head
NORDIC – Scottish Widows Investment Partnership says it has hired Martin Ortving from Baring Asset Management to head its Nordic business.
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Irish occupational pensions at “watershed”
IRELAND – Occupational pension provision in Ireland is at a “watershed” due to regulatory changes, according to an academic writing in an Irish banking quarterly.
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BNP Paribas in bid to exploit pension reform
FRANCE - BNP Paribas is launching a pension Sicav to take advantage of changes in French pensions law.
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SFIM and Denver to distribute each other’s funds
London-based Singer & Friedlander Investment Management (SFIM) and US firm Denver Investment Advisors in Colorado have entered a business development and marketing arrangement to expand institutional fund activities.
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Real estate is right for Europe's pension funds - Prudential
EUROPE – Real estate has the right characteristics to meet to meet the goals and objectives of European pension funds, according to US group Prudential Real Estate Investors.
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Pension funds cool on new Dutch code
NETHERLANDS – The new Tabaksblat corporate governance code has received a mixed response from pension fund bodies.
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SWIP names Bolton as head of European equities
UK - Scottish Widows Investment Partnership has named Nigel Bolton as head of European equities.
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ECB says pension funds’ shift to bonds continues
EUROPE – The European Central Bank says pension funds and insurers in the euro area are still shifting out of equities and into fixed income and mutual funds.
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Somerset awards E143m in fixed income to F&C
UK – The 600 million-pound (867 million-euro) Somerset County Council Pension has awarded a 100 million-pound (143 million-euro) UK fixed income mandate to F&C Management.
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Norway’s Petroleum Fund “not enough” - IMF
NORWAY – The International Monetary Fund says Norway’s 803 billion-crown (99.4 billion-euro) Petroleum Fund “will not be enough” to cover future pension needs.
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Scandinavian fund tenders E326m via IPE-Quest
SCANDINAVIA – A Scandinavian pension fund has tendered a mandate for around 400 million dollars (326.7 million euros) in North American equities via IPE-Quest.
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Gartmore says it boosts US equities team
UK – Gartmore Investment Management has hired Gil Knight as vice president, senior portfolio manager, to boost its US equities team.
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Petroleum Fund tenders active equity mandates
NORWAY – The 803 billion-crown (99.4 billion-euro) Petroleum Fund is seeking managers to run active global and emerging market equities.
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Aegon awards E19bn custody mandate to KAS
NETHERLANDS – Aegon Asset Management Netherlands has awarded KAS Bank a 19 billion-euro mandate for the custody and administration of European bonds and Dutch equities.
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State Street unveils ‘virtual’ asset pooling
EUROPE - Global custody group State Street says it is introducing a ‘virtual’ product for multinational pension fund asset pooling.
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TNO puts E30m into hedge funds
NETHERLANDS – The 1.3 billion-euro pension fund of Dutch research institute TNO has allocated 30 million euros to hedge funds, taking the cash out of equities.
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Swiss fund tenders E32m via IPE-Quest
SWITZERLAND – A Swiss pension fund has tendered a mandate for enhanced Swiss equities worth 50 million Swiss francs (32 million euros) via IPE-Quest.
