Markets – Page 272
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ABP chairman calls for wage restraint
NETHERLANDS – The chairman of the board of directors at Europe’s largest pension fund, the 135.6 billion euro Stichting Pensioenfonds ABP, has said that wage restraint is the only way to keep pensions affordable.
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State Street opens Frankfurt office
GERMANY – State Street Global Markets is raising its profile in transition management in Germany by opening an office in Frankfurt.
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DeAM and Schroders ousted at Oxford council
UK – The 500 million pound (703 million euro) pension scheme of Oxfordshire County Council has replaced Deutsche Asset Management and Schroders with UBS, Baillie Gifford, Alliance Bernstein and Legal & General as part of a move to find better performance.
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AP1 to tender up to E429m in Pacific equities
SWEDEN – Sweden’s 12.8 billion euro first national pension fund, Forsta AP-fonden or AP1, will be tendering a Pacific equities mandate of up to 500 million dollars (429 million euros) in the near future, as it moves to a more active strategy.
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UK pension funds lack formal assessment of consultants
UK – An overwhelming majority of UK pension funds have no formal way of assessing the advice they receive from consultants, according to a new survey.
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Norway’s KLP ready for new pension proposals
NORWAY – Mutually-owned insurer KLP says it is well placed to benefit from proposed changes in the Norwegian pensions market, but says it will mean hard work and a change in its approach.
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European ETF assets rise 17% - Morgan Stanley
EUROPE – Assets under management in exchange traded funds listed in Europe rose by 17.1% in April, according to the latest research by Morgan Stanley.
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Guinness pension fund appoints Morgan Stanley
IRELAND – The 1.2 billion euro Guinness Ireland group pensions scheme has appointed Morgan Stanley Investment Managers to run an 110 million euro European fixed income mandate.
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Dutch pension fund tenders mandate via IPE-Quest
NETHERLANDS – A Dutch pension fund has put out to tender a euro zone equities enhanced index mandate via IPE-Quest.
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French reserve fund appoints Mercers
FRANCE – The 13.1 billion euro French reserve state fund has appointed Mercer Investment Consulting to assist with selecting investment fund managers.
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Credit Agricole wins KLM emerging market mandate
NETHERLANDS/FRANCE – Blue Sky Group, manager of the 6.5 billion euro pension fund of Dutch airline KLM, has appointed Credit Agricole Asset Management to run a global emerging market equity mandate.
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Northern Trust hires Martin Currie’s Sagraves
UK – Northern Trust Global Investments has hired Barry Sagraves from Martin Currie to head its European investment business.
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SWIP hires ex-RSA global funds head
UK - Scottish Widows Investment Partnership has hired former Royal & Sun Alliance global funds head Tim Scholefield as head of international research and global sectors.
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S&P names European investment services head
EUROPE – Ratings agency Standard & Poor’s has appointed Geoff Hawksworth to head up its European Investment Services business.
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Schroders in European property push
EUROPE – Schroders Property Investment Management is making a push into Europe, joining two European property associations, and adding one member to its team.
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Allianz’s PIMCO launches eight funds for Europe
EUROPE – PIMCO has launched eight new specialist pooled fixed income funds aimed at institutional investors across Europe.
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Stoxx slams new FTSE
SWITZERLAND – The head of index provider Dow Jones Stoxx says the new FTSE-Euronext pan-European index series is a “copy” of the DJ Stoxx 50 – and that many institutions won’t shift index providers in the current market.
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Irish reserve fund to move into new asset classes
IRELAND - The commissioners responsible for the investment strategy of Ireland’s eight billion euro National Reserve Pension Fund have decided about exposure to additional asset classes apart from equities and bonds.
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ABN Amro asset management profit falls 26%
NETHERLANDS – Net profit at ABN Amro’s asset management division declined by 26.3% to 14 million euros in the first quarter.
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Pension funds targeted with new SLAM fund
UK – Swiss Life Asset Management UK is targeting pension funds wishing to gain global exposure to equity markets outside the UK with the launch of a new fund.
