All articles by Daniel Brooksbank – Page 31
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Vervoer taps GSAM for €5.4bn fiduciary brief
NETHERLANDS – Dutch industry-wide transport fund Pensioenfonds Vervoer has appointed Goldman Sachs Asset Management to run a €5.4bn fiduciary mandate – resulting in a loss for incumbent F&C.
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IPE-Quest: two new searches on system
EUROPE – Two new searches, for convertible bonds and large-cap Japanese equities, have been added to the IPE-Quest system.
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Blacket offers online fund manager “barometer”
UK - Blacket Research is launching a free online service for pension schemes called the Fund Manager Barometer within the next few weeks.
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Railpen ditches JP Morgan in revamp
UK - The Railways Pension Trustee Company, which runs the £17bn (€25bn) industry-wide pension scheme for the UK railways, has axed JP Morgan as a global custodian in favour of ABN Amro Mellon.
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Harrow tenders private equity, currency overlay
UK – The £400m (€587m) Harrow Pension Fund has tendered around £20m in private equity and £150m in currency overlay.
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Vontobel, Pictet top Swiss 'alpha league'
SWITZERLAND - Vontobel Asset Management and Pictet & Cie have tied for first place in the new "Alpha League Table" from EuroPerformance and French business school Edhec.
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MNOPF axes JP Morgan from €4.7bn custody brief
UK – The Merchant Navy Officers Pension Fund has rejigged its custody arrangements – resulting in another major loss by JP Morgan to ABN Amro Mellon (adds JP Morgan comment.)
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Hedge funds: 13% of Europe schemes now invest
EUROPE – Some 13% of continental European and Irish pension funds invest in hedge funds, almost double the number in the UK, according to Mercer Investment Consulting.
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IPE-Quest: European fund tenders Japan equities
EUROPE – A European pension fund has tendered $50m-$200m (€39m-€156m) in active Japanese equities via IPE-Quest.
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JP Morgan plans further hedge fund deal
UK – JP Morgan is close to doing a deal with a UK-based hedge fund manager with some £2bn (€2.9bn) in assets under management, according to a senior figure at the bank (Updates to clarify nature of deal).
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Sandler to chair DB buyout firm Paternoster
UK – Ron Sandler, the former NatWest and Lloyd’s of London executive who led a review of retail savings in 2002, has been appointed chairman of new defined benefit pensions buyout firm Paternoster.
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FTSE research director Beckley departs
GLOBAL – FTSE Group’s research and development director Carl Beckley is leaving the index provider after almost eight years to join Record Currency Management.
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IPE-Quest: Danish fund tenders US mid-caps
DENMARK – A Danish pension fund has tendered an expected $50m (€39.1m) in US mid-cap equities via IPE-Quest.
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Bank of NY Europe head Keaney promoted in revamp
GLOBAL - The Bank of New York’s Europe head Tim Keaney is to head the bank’s new Global Investor Services division as the group forms into two divisions.
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Schemes still need long-dated bonds – Goldman
UK – Goldman Sachs says UK pension schemes will still need long-dated fixed income – despite the equity market rally and lower liabilities.
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‘Impossible to predict’ bird flu pensions impact
GLOBAL – The impact of a pandemic of avian influenza on pension funds is currently impossible to predict, according to a forum of global central bank and finance ministry chiefs.
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Barclays Global Investors’ ETF head Lavine exits
EUROPE – Bruce Lavine, head of Europe at Barclays Global Investors’ iShares exchange-traded funds arm, has left.
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AXA Rosenberg wins €370m AP7 mandate
SWEDEN - AXA Rosenberg says it has been awarded a €320m pan-European equities mandate by SEK68bn Swedish buffer fund Sjunde AP-fonden.
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€2.5bn East Riding scheme tenders global custody
UK – The East Riding of Yorkshire Council is seeking a global custodian on behalf of the £1.7bn (€2.5bn) East Riding Pension Fund.
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BA taps Bank of New York for pension payments
UK – British Airways Pensions has appointed the Bank of New York to process payments to its pension scheme members on a global basis.
