All articles by Carolyn Bandel – Page 57
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Dufas enters war on ‘regulatory arbitrage’
EUROPE – Hans Janssen Daalen, general director of the Dutch Fund and Asset Management Association (Dufas), has called for European standardisation of pension regulation to prevent “improper” jurisdictional rivalry.
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Butchers asked to chop property portfolio
NETHERLANDS – The Dutch €1.1bn industrywide butchers’ pension fund has clashed with pension regulator De Nederlandsche Bank (DNB) over demands to cut the scheme’s real estate holdings.
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Wednesday people roundup
GLOBAL – Mercer, ABN Amro AM, Invesco, Henderson, Santander AM, BGI, F&C, KAS Bank, ING Real Estate, oekom research.
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Institutions still downbeat – Merrill survey
GLOBAL – Institutional investors are “still fundamentally pessimistic” about the outlook for corporate profit growth, fixed income and credit, a survey by investment bank Merrill Lynch has found.
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PensionDanmark returns 1.2% in first quarter
DENMARK – The Danish labour market pension fund, PensionDanmark, has booked an investment return of 1.2% in the first quarter - boosting its assets under management to DKK64.2bn (€8.6bn).
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Regulators probe Dutch institutional real estate
NETHERLANDS – Dutch regulators are probing institutional investors’ real estate investment activities to detect corruption.
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Dutch VB writes SRI manual
NETHERLANDS – The VB, the Dutch Association of Industry-Wide Pension Funds, has drafted a social responsible investments (SRI) manual to help pension funds inject more transparency into their investments.
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Fidelity eyes Dutch fiduciary market
NETHERLANDS – Asset manager Fidelity International is the latest to enter the popular Dutch fiduciary and LDI market, with further plans expand internationally.
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DNB warns funds about going to Belgium
NETHERLANDS – The Dutch central bank has warned pension funds about moving to neighbouring Belgium, saying they could be faced with disappointing results.
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Ex-Hewitt employee jailed for theft from client
UK – A former Hewitt Associates pensions administrator has been given a 21-month prison sentence for stealing more than a quarter of a million pounds from a client.
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Horeca’s new admin system still not functional
NETHERLANDS – PH&C, the €2bn pension fund for the Horeca Dutch hotel and catering sector, says its administrative arrangement with the Dutch Tax Department and Employees’ Insurance Institute (UWV) is still not functioning.
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Blue Sky goes with new manager database
NETHERLANDS – Blue Sky Group, the manager of the KLM pension fund assets, has chosen a new manager database vendor for equities, fixed income and real estate.
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SEI Investments plans UK DC launch
UK – US asset management firm SEI Investments is planning to launch a defined contribution (DC) offering in the UK, IPE has learnt.
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Wednesday people roundup
GLOBAL - CalSTRS, AXA, Tremont, Morgan Stanley, PIMCO, Mercer, PIC, Threadneedle, Northern Trust, GES, BISYS.
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SPF Beheer in fiduciary talks with three funds
NETHERLANDS – SPF Beheer says it is in talks with three pension funds to take on their asset management and pension administration.
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Dutch pension giants shun land mines
NETHERLANDS – Dutch pension giants ABP and PGGM, who together have nearly €300bn in assets, have stopped investing in firms that produce landmines.
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Capital stands firm amid performance “blip”
UK – Capital International says it is standing firm amid what it admits is a “blip” in performance that has seen it lose a series of UK pension fund mandates.
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Outgoing SWIP CEO Phillips dies (Update)
UK – Chris Phillips, who recently announced his departure as chief executive of Scottish Widows Investment Partnership to join Morley Fund Management, has died during a holiday in Spain aged 50 (Updates with further information).
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Germans too conservative in pensions - Mössle
GERMANY – Fidelity’s head of German institutional business has warned that Germans face an income drop of nearly half in retirement.
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ABP rejects proposed pan-European vehicle
NETHERLANDS – Dutch pension giant ABP, at €211bn Europe’s largest pension fund, has said the government’s proposed new pension framework is “no attractive alternative”.