All articles by Daniel Brooksbank – Page 19
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Denmark’s Energinet tenders pension services
DENMARK – State-owned Danish utilities company Energinet.dk has tendered group pension services.
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Citigroup sets up pension solutions team
EUROPE - Citigroup has set up a European insurance and pensions structured solutions group in London under Wiltrud Heiss.
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IPE-QUEST: UK insurer tenders hedge funds
UK – A UK-based insurance company has tendered up to $100m (€77.7m) in long-short equity market neutral hedge funds via IPE-Quest.
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AP2 funds GSAM, First Quadrant GTAA mandates
SWEDEN – The Second Swedish National Pension Fund/AP2 says it has funded Global Tactical Asset Allocation mandates awarded to Goldman Sachs Asset Management and First Quadrant two years ago.
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450 Prudential pensions staff transfer to Capita
UK – Around 450 of Prudential UK’s life and pensions staff are to transfer to Capita under a £40m (€59m) outsourcing contract.
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Denmark’s ATP gains €670m from hedging
DENMARK - Denmark’s largest pension scheme Arbejdsmarkedets Tillægspension made a DKK 5bn (€670m) profit on hedging activities in the first half of this year.
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UBS institutional AUM assets slip €9.5bn
SWITZERLAND – Institutional assets under management at UBS Global Asset Management slipped by CHF15bn (€9.5bn), or 3%, in the second quarter to CHF451bn due to currency and market effects.
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UK coal schemes retain JP Morgan for custody
UK – The two main UK coal industry pension schemes have retained JP Morgan Worldwide Securities Services to serve as global custodian for £18.5bn (€27.4bn) in assets following a review.
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CBRE nabs €1.4bn Electricity Supply property brief
REAL ESTATE – The Electricity Supply Pension Scheme has named CBRE Investors to replace F&C Asset Management as manager of its £985 (€1.4bn) core UK property portfolio.
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Capital International chief Armitage retires
UK – Capital International has confirmed the retirement of one of its senior figures, Peter Armitage.
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UK cancels new pension disclosure rules
UK – The UK government has decided not to introduce new pensions information disclosure regulations that were due to be introduced in October.
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ABP’s Munsters calls for one share, one vote
NETHERLANDS - Roderick Munsters, chief investment officer of Europe’s largest pension fund Stichting Pensioenfonds ABP, has called for the European Commission to implement a ‘one share, one vote’ system of shareholder ownership.
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Hewitt Associates swings to $202m loss
GLOBAL – Hewitt Associates, the pensions consulting and human resources firm that is replacing its chief executive, made a loss of more than $200m (€157m) in the third quarter.
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Schroders posts €6.8bn institutional outflow
UK – Schroders had a net outflow of institutional assets of £4.6bn (€6.8bn) and a decline in asset management profit in the first half.
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Hewitt Associates names new chairman and CEO
GLOBAL – Pensions consulting and human resources firm Hewitt Associates has named Bisys Group’s Russell Fradin to replace Dale Gifford as chairman and chief executive.
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Danica Pension posts –3.7% return
DENMARK – Danica Pension’s return on customer funds swung to –3.7% in the first half of this year from +8.5% in the same period last year, hit by falling markets in the second quarter.
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IPE-QUEST: UK insurer tenders convertible bonds
UK – A UK insurance company has tendered up to $100m (€77.7m) in convertible bonds via IPE-Quest.
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ING’s assets under management drop €8.9bn
GLOBAL – ING lost a total €8.9bn of assets under management in the second quarter – “shaved” by market declines and currency movements.
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Call for UK local government fund accountability
UK – The government has been advised to overhaul the accountability arrangements for the UK’s Local Government Pension Scheme.
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Watson sees “robust” demand from pension clients
GLOBAL – Watson Wyatt Worldwide has reported “robust demand” for investment strategy and fund manager selection services amid an 18% increase in revenues at its investment consulting group.
