Markets – Page 260
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Nationwide fund drops Schroders as main manager
UK – Schroder Investment Management has been dropped as the main fund manager for the 850 million-pound (1.22 billion-euro) pension fund of Nationwide Building Society as a result of poor performance.
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France’s Oddo AM restructures management
FRANCE – Oddo Asset Management in Paris has restructured, resulting in the appointment of three new heads of department.
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S&P names European investment sales head
EUROPE - Standard & Poor's has hired Thomson Financial's former European sales director Susan Lait to be its new European head of sales for investment services.
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Dutch pension funds raise foreign equity holdings
NETHERLANDS – Dutch pension funds have increased their holdings in foreign equities by 22 billion euros over the first half of 2003.
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RLAM names new equities and fixed income heads
UK – Royal London Asset Management has restructured its senior positions with the promotion of Jane Coffey to head of equities and Jonathan Platt as head of fixed income.
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Putnam names director of European equities
EUROPE – Putnam Investments has named Heather Arnold as director of European equities.
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Put 5-10% into hedge funds - ex-Watson partner
UK – Former Watson Wyatt partner and senior investment consultant Stephen Oxley says pension funds should allocate between five and 10 percent to hedge funds.
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Woods to head new SSGA hedge fund strategy group
UK - State Street Global Advisors has set up a hedge fund strategies group to be headed by former UK chief investment officer Chris Woods.
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LGIM hires fund manager Holmes from CSAM
UK – Legal and General Investment Management has further bolstered its equity team as it makes a push into active equities.
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Austrian pension reform “unfinished business”
AUSTRIA – The International Monetary Fund has praised Austria’s pension reform, but highlights that the second and third pillar systems need gradual development.
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Inflows to German investment funds halve
GERMANY – Investments into German investment funds dropped by half in August to 1.6 billion euros, according to the latest data from the BVI, Bundesverband Investment und Asset Management.
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AP1 hires head of alternative investments
SWEDEN – The 126.6 billion-Swedish crown (13.7 billion-euro) Swedish reserve fund Forsta AP-fonden has hired a head of alternatives.
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French reserve fund tender closed
FRANCE – Applications for the 27 mandates for the 16 billion-euro French National Retirement Reserve Fund closed at noon today.
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Schroder IM reshuffles management
UK – Schroder Investment Management has reshuffled its senior positions with the head of equities, Michael Pignatelli, taking a more hands-on role in managing money.
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Devon pension scheme investment chief to retire
UK – Ian Faulkner, investment manager of the 2.1 billion-pound (2.99 billion-euro) Devon County Council Pension Fund, is to retire next year.
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UK’s Audit Commission seeks investment consultant
UK – The 250 million-pound (356 million-euro) pension fund of the Audit Commission is tendering for an investment consultant.
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BlackRock loses out at Ireland’s NTMA
IRELAND – US-based BlackRock has lost its pan-European active equity mandate at the National Treasury Management Agency, which runs the eight billion-euro Irish National Pension Reserve Fund.
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Surrey scheme considers core-satellite approach
UK – Surrey County Council’s 950 million-pound (1.35 billion-euro) pension fund is reviewing the services and management of the scheme, and is considering a series of mandates.
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Retirement age the hot topic at CERP conference
ITALY – The age of retirement in Europe is the focus of a forthcoming conference organised by Italy’s Center for Research on Pensions and Welfare Policies, or CERP.
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AP3 names European small/mid-cap managers
SWEDEN – The 129.7 billion Swedish-crown (14 billion-euro) Swedish national pension fund AP3 has made a 291 million-euro move into European small and mid-cap equities with the appointment of four investment managers.
