All articles by Daniel Brooksbank – Page 37
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AP2 takes issue with Electrolux management
SWEDEN – The SEK190.6bn (€20.5bn) Second Swedish National Pension Fund/AP2 is at odds with the management of Electrolux over the consumer products company’s plans to spin off outdoor power unit Husqvarna.
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Bulgaria plans first-pillar ‘Silver Fund’
BULGARIA – The Bulgarian government is preparing a law to introduce a “Silver Fund” to bolster first-pillar pensions.
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Pensions conference glut claims first victim
EUROPE – An unusual convergence of pensions and investment industry conferences on Tuesday April 25 has claimed its first victim: Credit Suisse.
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Credit Suisse launches pension crossing service
GLOBAL - Credit Suisse's transition management group has launched a trade-crossing service for pension fund sponsors in the US.
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Cambridge council tenders pension fund custody
UK – Cambridge County Council has tendered a global custody mandate for its pension fund via consulting firm Thomas Murray.
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Institutions pull €3bn from Robeco
NETHERLANDS – Robeco, the asset management arm of Dutch bank Rabobank, had a €3bn outflow of institutional assets in 2005.
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Consultant Hymans names five new partners
UK – Pension consulting firm Hymans Robertson has appointed six new partners as of the start of this month – taking the total number of partners to 31.
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IPE-QUEST: Insurer tenders South African equities
EUROPE – A European insurer has tendered $85m (euro) in South African equities – ideally looking for a ‘Black Economic Empowerment’ firm – via IPE-Quest.
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Schemes may shift to shorter-dated bonds - UBS
GLOBAL – UBS reckons one effect of demographic ageing may be that pension funds will move into bonds – and at shorter maturities - as members get older.
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Belgium to create pan-European pension framework
BELGIUM – The Belgian government is to set up a legal framework to make the country a domicile for pan-European pension funds, according to pension fund association BVPI/ABIP.
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Cambridge hires ex-State Streeter for hedge funds
US – Consulting firm Cambridge Associates has former State Street’s Charles Cassidy to the new role of director of operational due diligence for its hedge fund group.
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New pension risk blog set up
GLOBAL – A new online blog aimed at pension financial risk and fiduciary implications has been launched.
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CSAM names relationship head
GLOBAL - Credit Suisse has named J.C. Perrig as head of channel management and direct sales for asset management.
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Pension Commission still getting mixed responses
UK – The ball’s in the government’s court now that the long-running saga of the Pensions Commission – it’s just released its third report – has come to an end.
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Icelandic funds still eye foreign investment
ICELAND – Icelandic pension funds still have a lot of scope for investing outside the country, says the central bank.
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IPE-QUEST: Danish fund in two new searches
DENMARK – A Danish pension fund has tendered two Japanese equities mandates for a total €75m+ via IPE-Quest.
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Trustees wary of structured credit – Watson
GLOBAL – Watson Wyatt says it has found that pension fund trustees, while starting to like the idea of derivatives, are less enthusiastic about structured credit arrangements like CDOs.
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UK names actuarial standards board
UK – The 14 members of the new Board for Actuarial standards have been named by the Financial Reporting Council.
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Norwegian Enterprise taps Storebrand as provider
NORWAY - The Confederation of Norwegian Enterprise (NHO) has chosen Storebrand as the preferred provider of mandatory pension schemes for its member companies.
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Central banks need to monitor ageing – ECB
EUROPE – The European Central Bank says central bankers will increasingly need to monitor the impact of demographic ageing on the wider economy and markets.
