All IPE articles in September 2006 (Online) – Page 5
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Warwickshire to put 10% into alternatives
UK - Warwickshire County Council has tendered for up to £100m (€148m) in real estate and fund of hedge funds for the £1bn Warwickshire Pension Fund.
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MLP takes control of FERI Finance
GERMANY – Independent financial advisor MLP has taken a controlling stake in Feri Finance, the holding company of German investment consultant Feri Institutional Advisors (FIA).
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BankPension awards European equity mandate
DENMARK – The DKR11.4bn (€1.52bn) BankPension, an industry-wide pension fund for employees in the finance sector, will award a Los Angeles-based fund manager with a $10m European equity portfolio.
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BaFin chief Sanio under scrutiny in fraud probe
GERMANY – Jochen Sanio, president of German financial services regulator BaFin, could be forced to step down following a report by the auditor PWC that found instances of fraud and gross mismanagement at the regulator.
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Sweden: pensions low on agenda post-election
SWEDEN - The election victory for the centre right alliance under Fredrik Reinfeldt will have no immediate implications for pension funds, say analysts and pension fund representatives.
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BTPS equity exit not a bearish signal - Hermes
UK – The BT Pension Fund’s ditching of about a third of its £9.7bn (€14.3bn) UK equity portfolio in favour of alternative investments is “not a bearish signal”, according to fund manager Hermes.
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Norwegian Global fund reviewing strategy
NORWAY – The NOK1.5trn (€180bn) Norwegian Government Pension Fund is reviewing its “low return volatility” investment strategy, says the central bank.
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MEPs facing pension fund “embezzlement” talk
EUROPE – Members of the European Parliament are facing suggestions that they might be embezzling their own pension fund.
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Somerset awards currency brief to Record
UK – The £960m (€1.4bn) Somerset County Council Pension Fund has awarded Record Currency Management a currency hedging mandate.
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Germany: Watson welcomes BVI’s scrutiny
GERMANY – International consultant Watson Wyatt has broken ranks with its peers by welcoming a questionnaire from German fund industry association BVI.
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MEAG nabs €100m Protektor mandate
GERMANY – Protektor, the administrator of a new insolvency fund for life insurers and Pensionskassen, has awarded German asset manager MEAG with a €100m mandate for undisclosed investment services.
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PPF seeking rule change on insured liabilities
UK – The Pension Protection Fund is seeking a change in legislation to ease difficulties with insured liabilities and valuations.
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ECB’s Trichet says contributions could double
EUROPE – European Central Bank president Jean-Claude Trichet has warned that pension contributions could double without further reforms.
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Hoogovens awards €5bn custody mandate
NETHERLANDS – The €5.1bn Stichting Pensioenfonds Hoogovens, the pension fund of steelmaker Corus Netherlands, has named ABN Amro Mellon Global Securities Services as its new global custodian.
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Mercer affected as parent axes 750 jobs
GLOBAL – Mercer Human Resource Consulting will bear some of the brunt of parent company Marsh & McLennan Companies decision to cut 750 jobs.
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Manchester firefighters want pensions admin
UK – The Greater Manchester Fire and Rescue Authority is tendering for a five year “framework agreement” for the provision of a firefighters’ pension scheme system.
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Swansea Pension Fund seeking investment advisor
UK – The City & County of Swansea Council is seeking one or more independent investment advisors for the £790m (€1.2bn) Swansea Pension Fund.
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USS recruiting for responsible investment
UK – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, is looking to hire two responsible investment staff as a result of “re-organisation and expansion”.
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Paternoster sees “gamesmanship” in buyout market
UK – Mark Wood, the chief executive of defined benefit pensions buyout firm Paternoster, reckons there’s “gamesmanship” going on in the market as providers seek to win business.
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Flemish Care Fund seeks ethical manager (Dutch)
BELGIUM – The Flemish Care Fund/Vlaams Zorgfonds is looking for an asset manager for the investment of an ethical stock portfolio.
