All articles by Daniel Brooksbank – Page 60
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News
French reserve fund confirms private equity plan
FRANCE - The €24.8bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has confirmed it will look for private equity asset managers for Europe and North America by the end of the year.
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T. Rowe's vice chairman Riepe to retire
GLOBAL - Jim Riepe is to retire as vice chairman of asset management firm T. Rowe Price - with his responsibilities shifting to Edward Bernard.
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Singer & Friedlander CEO Shearer exits
UK – Tony Shearer is to leave as chief executive of Singer & Friedlander following the acquisition of the firm by Iceland’s Kaupthing.
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IPE-QUEST: European insurer tenders $150m
EUROPE – A European insurance company has tendered $150m (€211.5m) in global emerging markets equities via IPE-Quest.
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Troubled Alliance Capital gets NPRF boost
IRELAND – The National Pensions Reserve Fund has made its first move into emerging markets equities with a €142m investment via Alliance Capital Management, which has been under scrutiny from US regulators.
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Swiss schemes offered new bond fund
SWITZERLAND – Swiss pension funds are being offered a new bond fund that allows lower sensitivity to interest rates.
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George Ross Goobey still backing equities
UK – Previously unseen papers from the late George Ross Goobey, the founder of the ‘cult of equity’ in the UK, are to be used to make a new case for the asset class at a lecture by his son.
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New pensions portability plan facing criticism
EUROPE – The European Commission’s new pensions portability proposal – officially unveiled today - has come in from criticism from several quarters.
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Assets pulled from hedge fund-of-funds – HFR
GLOBAL – Investors pulled more than $1bn from hedge funds-of-funds in the third quarter, according to Hedge Fund Research which tracks the market.
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FRR’s invested assets return 15% in 2005 so far
FRANCE – The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has made a return of more than 15% on its invested mandates so far this year.
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JP Morgan European custody co-head Bourgi exits
EUROPE – JP Morgan’s European custody co-head Ramy Bourgi is to leave amid a restructuring of the division’s management.
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IPE-QUEST: Swiss fund tenders Japan equities
SWITZERLAND – A Swiss pension fund has tendered up to $70m (€58.4m) in Japanese equities via IPE-Quest.
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Dexia AM opens Stockholm branch
SWEDEN – Dexia Asset Management is opening a branch in Stockholm headed by Fredrik Wilkens from Key Asset Management.
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PGGM’s equities director Sol replaced
NETHERLANDS – Dutch health care fund PGGM has replaced Marjolein Sol as director of equities with Leo Lueb as of November 1.
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MEPs to probe pension directive transposition
EUROPE – The European Commission is facing a series of questions about the poor transposition of the occupational pension directive from the European Parliament.
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MLIM gets European institutional boost
EUROPE - Merrill Lynch Investment Managers had a net inflow of $12bn in assets under management in the third quarter – boosted in part by European institutional strength.
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SSGA assets rise 14% to $1.4trn
GLOBAL - Total assets under management at State Street Global Advisors have risen 14% to $1.4trn (€1.17bn), parent State Street Corp. said.
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Norway proposes new state pension fund
NORWAY – The Norwegian finance ministry has proposed the legislation for a new Government Pension Fund on the lines of the existing Petroleum Fund.
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BGI names Beckers as alternatives head
GLOBAL – Barclays Global Investors has named Stan Beckers, the former president of BARRA International, to replace John Demaine as global alternatives head.
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McCreevy outlines how markets will fund pensions
EUROPE – The European Union’s internal markets commissioner Charlie McCreevy has outlined the sorts of markets that he thinks will be needed to generate the tax revenues needed to fund pensions in the future.
