Real Estate – Page 93
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Watson’s Urwin doubts hedge fund capacity
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the performance of fund of hedge funds is “in doubt” due to a lack of capacity at some of the managers.
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IPE-QUEST: two new searches on system
GLOBAL – There are two new searches, for offshore property and global emerging markets, on IPE-Quest.
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West Midlands scheme recruiting two managers
UK – The £5.4bn (€8.07bn) West Midlands Pension Fund is looking for two internal equity investment managers following an internal restructuring.
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DeAM loses Lincolnshire brief to Martin Currie
UK – Deutsche Asset Management has lost an active UK equity brief to Martin Currie Investment Management after the £840m (€1.2bn) Lincolnshire County Council pension fund changed its performance target.
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Alecta real estate manager joins Schroders
SWEDEN - The manager of Swedish pension fund Alecta’s European real estate portfolio is leaving to join Schroder Property Investment Management.
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Dutch system seen as global pension leader
NETHERLANDS – “The Dutch pensions industry had come from being a virtually unknown pension power 10 years ago, to being the global pension revolution leader today,” said Keith Ambachtsheer, academic and strategic adviser to pension plans.
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MN Services changes management structure
NETHERLANDS – Dutch pension manager MN Services has named Wouter Pelser as co-head of asset management in a bid to enhance efficiency.
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South Yorkshire scheme loses team member
UK – The South Yorkshire Pensions Authority, which manages £2.7bn (€4bn) of assets, is looking for an investment manager following the departure of one of its six-strong investment team.
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Volkswagen Pension Trust in revamp (Update)
GERMANY - Volkswagen Pension Trust, the pension fund for the German car giant, has completed a sweeping revamp of the way its €1.5bn in pension assets are invested (Updates with clarification, fresh edit).
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Morley to manage €145.3m for Kelda
UK - Morley Fund Management says it has been awarded a £50m (€72.6m) fixed income mandate and a £50m indirect property mandate by Kelda Group Pension Plan.
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Alfred Berg’s Finland MD Koskimies quits
FINLAND – Mikko Koskimies, managing director at ABN Amro’s Alfred Berg Asset Management arm in Finland, has quit with his deputy to join insurance group Pohjola.
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PensionDanmark to build apartments for rent
DENMARK - Danish industry-wide pension fund PensionDanmark is moving into residential property with a three-year programme to build apartments in three areas of Copenhagen.
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Rabobank pension fund yields 9.3%
NETHERLANDS - The pension fund of Dutch financial services group Rabobank made a return of 9.3% in 2004 – the same as 2003.
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Equities forgotten as UK schemes shift €58bn
UK – Equities are becoming the “forgotten asset class” as UK pension schemes shifted £40bn (€58.3bn) out of stocks into bonds last year.
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BT, Royal Mail schemes back property fund
UK – The British Telecom, Royal Mail and BAe Systems pension schemes have invested in a real estate fund focused on small retail parks in the UK.
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ING IM’s institutional assets fall 17%
NETHERLANDS – Institutional assets under management at ING Investment Management have fallen 17.2% to €99bn, following the sale of Baring Asset Management.
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HSBC’s Finch launches boutique Tri Investments
UK - Christopher Finch, former head of pensions product development at HSBC Asset Management, has left the firm to set up a specialist investment boutique for institutional and retail investors.
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Credit Suisse pension business down amid 3% growth
SWITZERLAND – Credit Suisse Group’s pension-related business including asset management and insurance, has recorded a down-trend in the first quarter of 2005 in spite of the group recording a 3% net income growth.
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Zalm clarifies role of certifying actuaries
NETHERLANDS - Certification by an external actuary does not need to be mandatory for insurers, said Dutch finance minister Gerrit Zalm.
