Markets – Page 278
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Shake up at US fund sees Rogge lose e611m mandate
US- A complete overhaul of asset allocation at the Illinois teachers’ retirement system (TRS) has thrown two mandates out to tender and led the fund to drop Rogge Global Partners from a $594m (e611m) international fixed income mandate.
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Greenwich tenders entire e750m fund
UK- The London Borough of Greenwich pension fund has tendered its entire £480m (e749m) portfolio, currently managed by Schroders and Deutsche Asset Management.
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Mercers replaces Watsons as Home Group advisor
UK- Mercers Human Resource Consulting has replaced rival Watson Wyatt as provider of actuarial and consulting services to the pension funds of housing provider Home Group.
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SEI adds to fixed income manager line-up
UK- Multi manager SEI Investments has added Fischer Francis Trees & Watts and Alliance Capital Management to its fixed income manager line up. SEI maintains the new appointments will give broader access to the global developed fixed income markets.
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Ex-Phillips & Drew chief executive quits UBS
UK- Robin Hindle Fisher, the former chief executive of Phillips & Drew, is leaving UBS after ten years with the company. Hindle Fisher stepped down as chief executive last year to take a year out and study at the London Business School.
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BGI set to lose out as Torfaen tenders e770m
UK- Torfaen County Borough council has put out to tender over half of its £730m (e1.14bn) Greater Gwent Pension Fund.
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Schroders set to retain e313m Yorkshire mandate
UK- The £1.3bn East Riding of Yorkshire pension fund has drawn up a shortlist of three investment managers to run a £200m (e313m) global active equity mandate. Schroders, the incumbent manager, is rumoured to have been retained to run the funds.
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ATP picks Pimco and Citi to run e203m fixed income
DENMARK- The e34bn Danish Labour Market Supplementary Pension Scheme ATP has appointed Citigroup Asset Management and Pimco to manage a $200m (e203m) emerging market bond portfolio. Each company will be responsible for $100m.
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European equity outflows highest since September
EUROPE– Investors in Europe are selling off their European equity holdings because of the recent sharp declines in the stock markets, according to the latest European fund flow research published by Schroder Salomon Smith Barney (SSSB). The aggregate outflow for June reached €2.1bn, the largest since last September, when a ...
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MLIM and J Sainsbury settle underperformance claim
UK- Merrill Lynch Investment Managers and the £2.4bn (e3.8bn) pension fund of retailer J Sainsbury have avoided going to court over alleged underperformance following a settlement of an undisclosed amount. The supermarket group had been pursuing a claim from Merrills following the landmark payment made to Unilever last year.
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DeAM gives ten reasons to go out and buy equities
GLOBAL – Despite continued market weakness and investor caution, the time is right for investors to begin increasing their exposure to equities, says Deutsche Asset Management (DeAM)...
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Gartmore hires Burvill to run UK equity income
UK – London-based investment management group, Gartmore, has appointed Chris Burvill as head and lead fund manager of UK equity income. He will report to Jon Thornton, head of UK equities.
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Fixed income ETFs due in Europe after US launch
EUROPE/US – The New York Stock Exchange (NYSE) has issued the world’s first fixed income exchange traded funds (ETFs) but a spokeswoman for Morgan Stanley in London says foreign investors would do better to leave the four new funds alone.
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Italian railway workers' scheme tenders RFP
ITALY – The €26m Eurofer, the fledgling supplementary pension scheme for Italy’s state railways industry workers, has issued an RFP for managers for its assets.
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Stamford hires Davies as fixed income specialist
UK – London-based independent consultancy firm, Stamford Associates, has appointed Nick Davies as a fixed income specialist to its research team.
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Ahto joins PIMCO in London from Deustche
UK/EUROPE – California-based fixed income management company, PIMCO, has appointed Laura Ahto as senior vice president and head of operations and administration to its London office.
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Risk is key investor concern in manager selection
EUROPE – Risk control is now the most important factor investors consider when employing external asset managers, according to the latest Invesco annual survey of European institutional investors and their markets. In sharp contrast, risk control didn’t even figure in the top six factors in 2000.
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State Street appoints equity sales head for Europe
UK/EUROPE – Boston-based financial services group, State Street Corporation, has appointed Justin Shinebourne as head of its equity sales for Europe.
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UK private equity continues to outperform equities
UK- Private equity investments in the UK have outperformed UK pension fund assets over the past three five and ten years according to figures published by the British Venture Capital Association.
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Credit Agricole picks up e740m Italian mandate
ITALY- Italian insurance company Po Vita has awarded Credit Agricole Group’s Italian asset management company a balanced mandate worth e740m to oversee its technical reserves.
