Markets – Page 264
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Shropshire moves into hedge funds
UK – Shropshire County Council has announced a change in its pension fund benchmark with greater allocation to bonds and the introduction of a hedge fund portfolio.
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Portuguese pension funds net buyers of equities
PORTUGAL – Pension funds in Portugal were net buyers of equities in the first quarter, according to new data from Watson Wyatt.
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Ignore consultants’ advice, says Somerset
UK – The head of the 600 million-pound (867 million euro) local authority pension fund of Somerset County Council says only a bad pension fund follows the advice of investment consultants to the letter.
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European institutions shun consultants - poll
EUROPE – A new poll has found that 67% of European institutional investors do not employ the services of an external investment consultant.
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Scandinavian fund tenders EM equities via IPE-Quest
EUROPE – A Scandinavian public pension fund has tendered an 80 million-dollar (70 million euro) emerging markets equities mandate via IPE-Quest.
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AP1 tenders $200-300m US small-cap mandate
SWEDEN - The 12.8 billion-euro Swedish national pension scheme AP1 has put out to tender a 200-300 million dollar US small-cap mandate.
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Credit Suisse AM UK bond director leaves
UK – Credit Suisse Asset Management’s director of UK fixed income, Kevin Adams, is to rejoin Henderson Global Investors.
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HSBC UK custody mandates under review
UK – HSBC Global Investor Services has seen two of its global custody mandates for UK local authority pension funds being re-tendered.
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Hoogovens makes one millionth IPE.com “hit”
EUROPE – IPE.com has reached one million article reads – with a portfolio manager with a Dutch corporate pension fund winning the prize for becoming the one millionth reader.
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Five new mandates tendered via IPE-Quest
EUROPE – There have been five new mandates tendered via IPE-Quest, one from a Scandinavian industry-wide pension fund and four from a Swiss corporate pension fund.
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AP7 looks at e1bn active currency overlay strategy
SWEDEN – The Stockholm-based e2.9bn AP7 fund looks set to introduce an actively managed currency overlay strategy that could be worth up to e1bn next year, in the pursuit of greater outperformance.
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LODH beefs up fixed income team with hires
UK – The London-based asset management arm of Swiss firm Lombard Odier Darier Hentsch (LODH) has appointed Christine Farquhar to head up its fixed income division, as part of a move to boost its bond expertise in the UK.
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Goldman Sachs asset mgmt revenues fall 9%
US – Revenues at Goldman Sachs’ asset management division fell nine percent in the second quarter.
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HSBC says UK pension funds rise 10%
UK – HSBC says balanced pooled pension funds in the UK increased in value by more than 10% in the three months to May 30 – with Baillie Gifford the best performing manager.
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Goldman Sachs AM loses E6.8bn in British Coal revamp
UK - The 10 billion pound (14 billion euro) British Coal Staff Superannuation Scheme has withdrawn 4.8 billion pounds (6.8 billion euros) from Goldman Sachs Asset Management -but says GSAM remains a "favoured manager".
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Aegon Asset Management fixed income head leaves
UK – The head of fixed income at Aegon Asset Management UK, Malcolm Jones, has left the company.
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Investment consultant named to AP2 board
SWEDEN – The government has named investment consultant Märtha Josefsson to the board of the 12.8 billion-euro second Swedish national fund Andra AP-fonden.
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Scandinavian fund puts two mandates on IPE-Quest
SCANDINAVIA – An industry-wide pension fund in Scandinavia has put two equity mandates out to tender via IPE-Quest.
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UK's Kent taps Baillie Gifford for equities
UK – Kent County Council has appointed Baillie Gifford to manage a 170 million pound (240 million euro) global equity mandate for its pension fund.
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UBS sees UK pension assets growing rapidly
UK – UBS Global Asset Management reckons UK pension assets will grow to 1.4 trillion pounds (1.98 trillion euros) by the end of 2012 – saying there a number of trends that point to “rapid future growth”.
