Markets – Page 259
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Russian pension savings set to reach E28bn
RUSSIA – Pension savings of Russian citizens are expected to total one trillion roubles (28.3 billion euros) by 2010, says deputy finance minister Bella Zlatkis.
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Petroleum Fund says it fires SRI firm CaringCompany
NORWAY – The Norwegian ministry of finance has decided not to continue the Petroleum Fund’s relationship with ethical consulting firm Caring Company/Etikanalytikerna.
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CSFB unit to advise European pension plans
EUROPE – Credit Suisse First Boston has set up a group to advise both corporate and government sponsored pension plans across Europe.
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Swiss fund PUBLICA’s director Dueggeli to leave
SWITZERLAND – Peter Dueggeli, director of the Swiss fund PUBLICA (formerly PKB), has announced he will be leaving the position at the end of next June.
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Morley reappointed at Lincolnshire fund
UK – Morley Fund Managers has been reappointed to run a 100 million-pound (143 million-euro) fixed income mandate for Lincolnshire County Council pension fund.
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Irish managed funds return 6% so far this year
IRELAND – Irish group pension managed funds have returned more than six percent so far this year, according to new data from consulting firms.
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MLIM names Buckle as a fixed income director
UK – Merrill Lynch Investment Managers has bolstered its fixed income team with the appointment of David Buckle as director.
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Gartmore hires hedge fund risk head
UK – Gartmore has named a former telecoms executive to the new role of head of hedge fund risk management.
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Consultants blamed for asset-liability problems
GERMANY – The problem of pension fund assets showing little relation to liabilities is mainly due to consultants, according to a top executive at Deutsche Asset Management.
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Robeco’s van Duijn: world bull market underway
NETHERLANDS – The chief strategist of Robeco, Jacob van Duijn, says he favours emerging markets and equities – and that a global bull market has now started.
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MLIM's ex-Alpha team, Majedie, win first pension mandate
UK – Majedie Asset Management, the investment company established by five former Merrill Lynch Investment Managers employees, has won its first institutional mandate.
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Call for European asset management directive
FRANCE - The head of the French asset management association has called for a European asset management directive.
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No change in investment strategy for UK employers
UK – UK employers are not planning on changing their investment strategy and are confident that they will ride out current pensions difficulties, according to research by Aon Consulting.
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AP1 names seven managers for E656m Asia brief
SWEDEN – Sweden’s first national pension fund, Första AP-fonden or AP1, has appointed seven managers for its actively managed Asia-Pacific equity portfolio.
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Ex-PIMCO's Parry joins Schroders
UK – Mark Parry, formerly of PIMCO Europe, has joined Schroder Investment Management.
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Trustees, sponsors should work together - Hymans
UK – It’s time for trustees and companies to work together to find solutions – this is the message from actuarial consultant Hymans Robertson.
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Dexia AM eyes European expansion
EUROPE – Dexia Asset Management says it plans to expand in the Netherlands, Spain, Italy, Austria and Scandinavia.
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CSAM names Europe CEO, global bond head
GLOBAL – Credit Suisse Asset Management has made two senior appointments with Peter Roemer becoming chief executive for Europe and Dennis Schaney becoming global head of fixed income.
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Goldman Sachs AM revenues rise 20%
GLOBAL – Goldman Sachs’ asset management division saw its revenues rise by 20% in the third quarter to 481 million dollars (417.6 million euros), from 400 million dollars a year ago.
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Tyne & Wear tenders for investment consultant
UK – The two billion-pound (2.9 billion euro) Tyne and Wear pension fund has put out to tender a mandate for an investment consultant.
