Markets – Page 295
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Russell pushes $600m PIMCO's way
UK - Frank Russell has selected PIMCO Global Advisors to manage a further $600m (e674m) portion of its global bond fund range within the group’s multi-manager investment structure
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Ireland puts away IR£6bn for the future
IRELAND - The green light has been given to Ireland's National Pension Reserve Fund, which should see upwards of IR£6bn pumped into its coffers by the year end. RFPs for external mandates could be requested as early as February.....
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Calor cuts off P&D and Merrill
UK - The UK retirement benefits fund for gas group Calor has dropped Phillips & Drew and Merrill Lynch from a pair of £140m balanced mandates
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Baring gets Boosey money
The £21mUK Boosey & Hawkes pension scheme has handed a £10m fixed-income mandate to Baring Asset Management
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FCPE shift
FRANCE - The marked shift into shares within France’s FCPE (Fonds Communs de Placement D’Entreprise) individual company savings plans, is under scrutiny following recent dips in the equity markets, according to Richard Deville, managing director of Watson Wyatt in Paris.
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Settlements across borders
EUROPE - SIS SegaInterSettle, the Swiss settlement system, and its UK partner, CRESTCo, have started co-operation to offer cross-border securities settlement in pan-European exchange trading.
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Cornwall splits global mandate
UK - The £600m (e990m) Cornwall County Council Superannuation Fund has split a Merrill Lynch Investment Managers (MLIM) global balanced mandate into two, following a review in conjunction with consultants Hymans Robertson.
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AP funds in competition
SWEDEN - Management of Sweden’s pay as you go pension system is undergoing a major restructuring due to finish by the beginning of next year.
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Irish funds focus on managers' process
IRELAND - Irish plan sponsors are becoming more aware of the investment strategies of their funds.
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French company plans reach Senate
FRANCE - Legislation on France’s ‘épargne salariale’ – savings plans for company employees has passed to the senate after successfully clearing the country’s Assemblée Nationale, albeit after amendment.
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PPM pulls in 70% of Swedes
SWEDEN - Around 70% of Swedes in the north of the country have chosen to actively invest their assets in the second round of selection under the PPM (Premium Pensions Authority) national pension scheme.
