All articles by Daniel Brooksbank – Page 5
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UK Mineworkers' fund names trustee director
UK – The £10.5bn (€15.6bn) Mineworkers’ Pension Scheme has appointed Vivien Cockerill, pensions partner of law firm Wragge & Co., as a trustee director.
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Lehman Brothers AM gets $35bn inflow
GLOBAL – Lehman Brothers says it had a net inflow of $35bn (€26.5bn) of assets under management in the year ended November 30, up from $26bn a year before.
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Alternatives chief to chair Dexia AM
EUROPE – Dexia has named Naïm Abou-Jaoudé to succeed Hugo Lasat as chairman of the management board of Dexia Asset Management.
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Robeco takes 64% stake of SAM Group
EUROPE – Robeco has taken a 64% stake in Swiss-based SRI firm Sustainable Asset Management for an undisclosed sum.
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Immigration won’t save European PAYG - professor
EUROPE – Immigration won’t come to the rescue of Europe’s pay-as-you-go pension systems, argues Harvard professor Martin Feldstein.
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UK expects €220bn in new pension accounts
UK – The government has formally unveiled its proposals for “simple but radical” personal pension accounts - envisaging an eventual pool of up to £150bn (€223bn) to be managed by fund managers.
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Solvency II for pension directive “unclear” - FSA
EUROPE - It's still unclear whether the European Union's occupational pension fund directive will be amended to account for the Solvency II project for insurance companies, according the UK's Financial Services Authority.
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IPE-QUEST: Danish fund tenders European high-yield
DENMARK – A Danish industry-wide pension fund has tendered €50m in pan-European active high-yield debt via IPE-Quest.
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Goldman Sachs AM gets $94bn in net inflows
GLOBAL – Goldman Sachs says it had a total of $94bn (€139.5bn) of net asset inflows into its asset management business in 2006.
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Pension funds taking on too much risk, says ECB
EUROPE - The European Central Bank has warned that underfunded pension obligations may be leading investors into taking on too much risk – especially in emerging markets and high-yield bonds.
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ABP, SSGA expand alliance with $1.1bn
GLOBAL – Stichting Pensioenfonds ABP and State Street Global Advisors have expanded their State Street Global Alliance partnership with an extra $1.1bn (€830m).
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BGI outsourcing with JP Morgan complete
UK – Barclays Global Investors has completed its European investment outsourcing arrangement with JP Morgan Worldwide Securities Services.
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British Steel fund gets sweeter offer
UK – The pension fund of steelmaker Corus is to get more cash under a new offer for the company from Brazil’s CSN.
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Groupe expects changes to assumptions under IORP
EUROPE – The Groupe Consultatif Actuariel Européen says it expects to see “significant” changes in the way discount rates and other pension fund assumptions are determined under the occupational pension fund directive.
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SocGen names Spain investor services head
SPAIN - Société Générale Securities Services has named Paloma Pedrola as its new head of investor services, Spain.
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New investment advisory firm set up
UK - A new investment advisory business has been set up to help mid-size companies cut their pension deficits.
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Robeco names fund-of-hedge funds CEO
GLOBAL – Robeco, the asset management arm of Rabobank, has named Michael Abbott as chief executive of its fund of hedge funds group Robeco-Sage Capital.
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Consultants, clients concerned over BoNY-Mellon
GLOBAL – The merger announced this week by custody providers Bank of New York and Mellon Financial Corp. has been greeted with concern by consultants, pension fund clients and industry insiders.
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Threadneedle names global head of consultants
GLOBAL - Threadneedle Investments has named Morley’s Angus Scrace as global head of consultants and investment specialists, a new role.
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UK regulator issues cross-border guidance
UK – The Pensions Regulator has issued guidance about the application process for authorisation and approval for trustees to accept contributions in respect of European members.
