All articles by Carolyn Bandel – Page 49
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Funds still dread alternatives
[16:20 CEST 24/08] GLOBAL – Underfunding, a lack of transparency and high fees keep the majority of pension funds away from investing in alternatives, according to a new white paper by Northern Trust.
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Citigroup buyout not a trend, says report
[16:00 CEST 24/08] UK – Citigroup’s recent move into the buyout arena is unlikely to result in a major venture for the financial service company, actuarial consultant Punter Southall has said.
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Final deal agreed on Greek scandal bond
[13:00 CEST 24-08] GREECE – Four Greek state pension funds have reached a final buy-back agreement with US investment bank JP Morgan and hedge fund North Asset Management to reverse a disputed bond deal.
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Balfour exits on Aberdeen's GIM win
[15:00 CEST 23-08] UK – Mike Balfour, chief executive officer of Glasgow Investment Managers, will leave the group following its £8.95m (€13.23m) acquisition by Aberdeen Asset Management.
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Welsh council scouts global equity manager
[16:30 EST 22-08] UK – The Welsh £1.26bn (€1.86bn) Rhondda Cynon Taf local authority pension scheme is scouting global equity investment managers for a £215m mandate.
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Northamptonshire forays into overseas equities
[16:15 CEST 22-08] UK – The £1.1bn Northamptonshire County Council pension fund is looking for one or more managers for a new £200m overseas equity portoflio.
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Bramdean’s losses worry auditor
[16:00 CEST 22-08] UK – Nicola Horlick’s Bramdean Asset Management has made a loss of £3.75m in its first 18 months, prompting its auditors to raise doubts about the firm’s stability.
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Wednesday people roundup
[12:30 CEST 22-08] GLOBAL – NTGA, PIMCO, Mercer, Funds at Work, Credit Suisse, EDHEC, The Pensions Board, Riverside, Investec, Atlantis, Dimensional.
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Balfour challenges Aberdeen with MBO bid
[17:10 CEST 21-08] UK – Aberdeen Asset Management’s reported £7m bid for Glasgow Investment Managers (GIM) has been challenged by a separate buyout proposal from GIM’s management.
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Most schemes silent on wind-up legislation – Paternoster
[16:51 CEST 21-08] UK – Inadequate governance at the vast majority of UK scheme means their rules do not reflect current legislation for winding up lump sums, suggests pension buyout firm Paternoster.
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JP Morgan denies bond buy-back has stalled
[16:30 CEST 17-08] GREECE – Investment bank JP Morgan has denied claims its offer to buy back of the scandal-ridden €280m Greek government bond has reached an impasse.
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Blue Sky rethinks hedge funds stance
[16:30 CEST 17-08] NETHERLANDS – Blue Sky Group, manager of the KLM Royal Dutch Airlines' corporate pension fund, has said it is considering so called hedge fund replication strategies for its investments.
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Equity appetite unscathed by US turmoil – ML
[14:00 CEST 16-08] GLOBAL – Despite global market turbulence, institutional investors still believe equities offer value, particularly relative to bonds, Merrill Lynch has found.
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Iceland’s Kaupthing buys sub-prime victim NIBC
[16:30 CEST 15-08] NETHERLANDS/ICELAND – Iceland’s Kaupthing Bank has agreed to buy NIBC for €3bn, less than a week after the Dutch merchant bank announced massive losses in its sub-prime portfolio.
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Wednesday people roundup
[14:00 CEST 15-08] GLOBAL – BMA, State Street, Fidelity, ING IM, Morley, Watson Wyatt, Citigroup, Lyxor, SAM, ITS, Axa Framlington.
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Pension funds more active as shareholders – NAPF
[16:45 CEST 14-08] UK – Large UK pension funds’ engagement with the companies in which they hold shares is growing further and getting results, says the National Association of Pension Funds (NAPF).
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Quarter of UK audit reports ‘meaningless’ – LAPFF
[16:30 CEST 13-08] UK – Almost a quarter of large UK companies do not provide proper reports to their shareholders on audit practices, suggests a survey by the Local Authority Pension Fund Forum (LAPFF).
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Laerernes taps Wellington for hard currency
[16:15 CEST 13-08] DENMARK – Laerernes, the DKK24bn (€3.8bn) industry-wide fund for teachers, has appointed Wellington Management for a hard currency emerging market debt mandate.
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Akzo Nobel reaches agreement with ICI pension fund (UPDATE)
[16:15 CEST 13-08] NETHERLANDS/UK – Dutch paints major Akzo Nobel said it has reached an agreement with the trustees of the Imperial Chemical Industries (ICI) pension fund, under which it will continue supporting the fund. (Updated with comment from ICI trustees).
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Belfast Assembly seeks fund manager
[16:30 CEST 10-08] UK – The Northern Ireland Assembly Members’ Pension Scheme (AMPS) is looking for a fund manager to take on the scheme’s assets.
