All articles by Barbara Ottawa – Page 114
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BoNY appoints another to Brussels office
BELGIUM – The Bank of New York has appointed Axel Dewitte as head of corporate actions at its Brussels office.
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AMF and Länsförsäkringar among chosen for ITP
SWEDEN – Collectum, responsible for pooling money within Sweden’s white-collar pension scheme ITP, has chosen eight managers for its new defined contribution plan.
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IPE-QUEST: €152m in Swiss pension money up for grabs
SWITZERLAND – Three mandates amounting to $200m (€152m) are being tendered for Swiss pension fund money using IPE-QUEST (QN718, QN719, QN720).
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Nordea wins back institutional assets
NORDICS – Nordea’s asset management and life unit has reported a €3.2bn inflow in institutional assets for 2006, bringing total assets under management to €161bn.
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AP1 outperforms benchmark, AP4 misses it
SWEDEN – The buffer fund Första AP-fonden, AP1, outperformed its benchmark by 0.6 percentage points in 2006, reporting a 9.8% return before expenses for the year. Its sister fund AP4 missed its benchmark by 0.6 percentage points.
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IPE-QUEST: Dutch pension fund in hedge fund search
NETHERLANDS – A Dutch pension fund is tendering a €8m hedge fund mandate using IPE-QUEST (QN715).
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Handelsbanken reports 10.8% AUM rise
SWEDEN – The asset management arm of Handelsbanken has reported an increase in assets under management of 10.8% in 2006, bringing the total to SEK371bn (€40bn).
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FRR steps into emerging market equities
FRANCE - The €32bn Fonds de Réserve pour les Retraites (FRR) has started a temporary and limited exposure to emerging market equities before tendering a full mandate in summer.
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New GOAL for more class action
UK – Tax reclamation service provider GOAL has acquired Magenta One, a specialist in securities class actions.
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Irish NTMA chooses two for IT
IRELAND – The Irish National Treasury Management Agency (NTMA) has chosen two IT providers for administration and accounting for its combined €275m property and private equity portfolio.
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Suffolk re-appoints State Street
UK – The £1.2bn (€1.8bn) Suffolk County Council pension fund has re-appointed State Street as its custodian.
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AP1 to review active Japan strategy
SWEDEN – Martin Currie, Nomura and Marathon have been placed under review as the largest Swedish buffer fund, the SEK188bn (€20.4bn) Första AP-fonden (AP1), reviews its Japanese equity strategy.
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Sweden freezes pension money to protect tax
SWEDEN – Sweden has put in place legislation to prevent individuals from transferring roughly SEK750bn (€81.1bn) in existing pension and life insurance policies to foreign insurers.
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Four Winds says "ethical business is good business"
EUROPE – New boutique Four Winds Capital says they are not looking at superficial SRI box-ticking but direct involvement in investment regions.
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Austrian Pensionskassen return 5.5%
AUSTRIA –The average return of Austrian Pensionskassen for 2006 was 5.5%, four percentage points above inflation but less than half the previous year’s bumper performance.
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Northern Trust builds LDI team for global push
GLOBAL – US asset manager Northern Trust Global Investments (NTGI) has made a number of key appointments in London and Chicago to expand its liability driven investment (LDI) capabilities.
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BNP Paribas and Credit Suisse see AUM rise by 14%
FRANCE – Financial group BNP Paribas reported a 14% growth in assets under management bringing the figure up to €491.5bn.
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Iceland expects 10% returns for pension funds (amended)
ICELAND – Judging by performance of domestic and foreign equities the Icelandic pension fund association (IPFA) is expecting pension funds to return around 10%. (amends 2005 return)
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Mandatory pensions boost Storebrand by 279%
NORWAY – Financial giant, Storebrand saw a 279% growth for group pension insurance in the fourth quarter, bringing the group’s full-year profit to NOK1.6bn (€198m), up from NOK1.45bn a year before.
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Handelsbanken mourns Browaldh’s death
SWEDEN – Tore Browaldh, former chief executive of Handelsbanken and current honorary chairman, has died aged 89.
