All articles by Daniel Brooksbank – Page 10
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News
IPE-QUEST: Institution tenders pan-Europe equity
EUROPE – A UK manager of managers has tendered $100m in active pan-European equity via IPE-Quest.
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News
MEPs’ pension fund to tender actuarial study
EUROPE – An open tender to provide an actuarial study for the pension fund for members of the European Parliament is to be issued shortly.
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News
Deutsche Bank nabs Insight’s Hamilton for LDI
UK – Deutsche Bank has hired former Hewitt Associates consultant Joseph Hamilton to join its Insurance and Pensions Group.
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News
Watson reports strong investment advice demand
GLOBAL – Strong demand for investment strategy advice was behind a 36% increase in first-quarter investment consulting revenues at Watson Wyatt.
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News
FRR terminates €331m SGAM mandate (update)
FRANCE – The FRR, the €29bn French Pensions Reserve Fund or Fonds de Reserve Pour Les Retraites, has terminated a €331.5m US mid-cap equities mandate with Société Générale Asset Management subsidiary TCW due to “ongoing unsatisfactory performance” (Updates with SGAM comment).
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NBIM looking for CFO, strategist
NORWAY – Norges Bank Investment Management, which runs the NOK1.5trn (€182bn) Norwegian Pension Fund – Global, is looking for a chief financial officer, a new role.
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80% of UK funds to alter asset mix – Greenwich
UK – Greenwich Associates says 80% of UK pension funds plan to significantly alter their asset mixes in the next three years.
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News
Belgian pension association names secretary general
BELGIUM - The Belgian Pension Funds Association (BVPI-ABIP) has named Lut Sommerijns as its new secretary general from January 1.
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News
Norges chief slams “disguised beta” hedge funds
NORWAY – Knut Kjaer, executive director of Norges Bank Investment Management, which runs the NOK1.5trn (€182bn) Norwegian Pension Fund – Global, says many hedge funds are overpriced beta suppliers.
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News
Credit Suisse asset management profit down 21%
GLOBAL – Pre-tax profit at Credit Suisse’s asset management division fell 21% in the third quarter despite higher revenues and a CHF47bn (€29.6bn) increase in assets under management.
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Aon amends own UK and US pension funds
GLOBAL – Aon is planning to make changes to its UK and US defined benefit pension funds to save $60m (€47m) a year in a move that will affect almost 13,000 employees.
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News
London’s SAUL director questions LDI costs
UK - David Bennett-Rees, trustee director at the Superannuation Arrangements of the University of London pension fund, has queried the costs involved in liability-driven investing.
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KBC eyes bonds, indirect real estate in LDI move
BELGIUM – The €850m KBC Pensioenfonds, the third largest scheme in Belgium, is shifting from direct to indirect real estate and revamping its bond portfolio as part of a liability-driven investing (LDI) strategy, its managing director says.
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Features
The politics of portability
At a recent EPPF meeting, the EC’s portability proposals drew fire from almost all quarters, Daniel Brooksbank reports
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News
PensionDanmark beats benchmark
DENMARK – PensionDanmark has reported a 3.6% return on investments in the third quarter, beating its benchmark by 0.3 percentage points.
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News
Eureko’s Poland row intensifies
POLAND - Eureko has withdrawn its four representatives from the management boards of Polish insurer PZU because of what it says is “ongoing harassment and intimidation” from fellow board members.
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News
UK board reviews buyout disclosure proposal
UK – The UK’s Accounting Standards Board is reviewing its proposal that companies should disclose how much it would cost to buy out their pensions.
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News
F&C hit by Vervoer withdrawal
NETHERLANDS – Dutch industry-wide transport fund Pensioenfonds Vervoer is to complete the withdrawal of its assets from F&C Asset Management following the appointment of Goldman Sachs as fiduciary manager.
