All articles by Carolyn Bandel – Page 50
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HBoS boasts pension fund support
[16:15 CEST 10-08] UK – UK banking giant Halifax Bank of Scotland (HBoS) says it has contributed £1.15bn to its £5.7bn pension scheme since 2005, making this the second-largest UK employer contribution last year.
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NIBC drops IPO plans
[15:30 CEST 09-08] NETHERLANDS – Dutch merchant bank NIBC has seen profits evaporate because of massive losses on asset-backed securities related to the US subprime mortgage market, despite nearly doubling its institutional assets under management earlier this year.
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Pension surplus under threat from equities - LCP
[14:00 CEST 08-08] UK – Companies whose pension schemes remain heavily invested in equities should reconsider they are in a vulnerable position, argues Bob Scott, partner at Lane Clark & Peacock (LCP).
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Wednesday people roundup
[13:15 CEST 08-08] GLOBAL – CSAM, Morgan Stanley, Hewitt, KPMG, Janus Capital, ITS, RLAM, AIMA, HSBC, BGI.
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Dutch funds unconvinced by 'unfavourable' Fortis bid
[16:30 CEST 07-08] NETHERLANDS – A group of six Dutch pension fund-heavyweights yesterday voted against and displayed harsh criticism of Belgian-Dutch financials group, Fortis’ proposal for the potential ABN Amro takeover.
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Fortis steps closer to annex ABN’s asset management
[15:00 CEST 06-08] BELGIUM/THE NETHERLANDS – Belgian-Dutch financial services group Fortis has won initial shareholder support today for its part of a three-bank bid to buy the beleaguered Dutch bank ABN AMRO.
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Tower Hamlets tenders currency
[13:00 CEST 06-08] UK – The £640m (€944m) London Borough of Tower Hamlets Pension Fund is looking to appoint one or more managers for a specialist currency mandate of between £100m and £500m.
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Cardiff seeks transition managers
[16:00 CEST 03-08] UK – The £899m (€1.34bn) Cardiff and Vale of Glamorgan Pension Fund is looking for a ‘panel’ of transition managers, IPE has learnt.
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PGGM to increase concentrated risk investments
[12:00 CEST 03-08] NETHERLANDS – The €86bn Dutch pension fund PGGM, the second largest in the Netherlands, will double its concentrated risk investments in 2007, IPE has learnt.
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RailPen pushes into non-railway administration
[11:05 CEST 03-08] UK – RPMI, the third-party administrator set up by the £17bn (€25bn) Railways Pension Scheme (RailPen), are about to take on the fund administration for two major UK pension schemes, IPE has learnt.
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Dutch merchant navy taps ABN
[14:00 CEST 02-08] NETHERLANDS – The Dutch €3.4bn Merchant Navy Pension Fund (Bedrijfspensioenfonds voor de Koopvaardij) has appointed ABN Amro Mellon Global Securities Services as its global custodian for assets valued at €1bn.
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ICI replaces Bank of New York
[11:08 CEST 02-08] UK – The £400m Speciality Chemicals Pension Fund of British paints major Imperial Chemical Industries (ICI) has rehired JP Morgan Chase as its custodian, replacing the Bank of New York (BoNY).
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Pharma major hires Mercer for DC review
[16:30 CEST 01-08] UK – Pharmaceuticals giant GlaxoSmithKline (GSK) has hired Mercer Human Resource Consulting to review the design and investment strategy of its £850m (€1.3bn) UK-based defined contribution (DC) plan.
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Wednesday people roundup
[12:05 CEST 01-08] GLOBAL – F&C, Carnegie, TIAA-CREF, Schroders, IAM, SWIP, Pension Corporation, Sacker & Partners, DeAM, CBRE Investors, CSAM, Norilsk Nickel
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Norfolk seeks currency managers
[17:00 CEST 31-07] UK – The £1.72bn (€2.54bn) Norfolk County Council Pension Fund is looking to appoint one or more managers for its £100m specialist active currency portfolio.
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Dutch railway fund invests in opportunities
[15:30 CEST 30-07] NETHERLANDS – Spoorwegpensioenfonds (SPF), the €12.1bn Dutch railway pension fund, is looking to invest a total of 5% of its assets in a new ‘opportunity portfolio’.
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IPE Quest: Swiss fund seeks fund of hedge funds
[14:15 CEST 30-07] SWITZERLAND – A Swiss pension fund is tendering a $400m (€293m) long-short-equity fund of hedge funds mandate, using IPE-Quest.
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Solvency II "could threaten hedge funds"
[17:03 CEST 27-07] EUROPE - Institutional investments in hedge funds and other alternatives assets classes could come under threat by the Solvency II directive, French business school, Edhec, has claimed.
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Slovakia compromises on pension opt-out
SLOVAKIA – Individuals who decide to opt out of the Slovak mandatory second pillar pension system will not be able to turn their savings into cash after all, IPE has learnt.
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IPE Quest: Danish fund seeks debt manager
[12:00 CEST 26-07] DENMARK – An unnamed Danish pension fund is seeking a manager for a $70m global emerging markets (GEM) local currency debt mandate, using IPE-Quest.
