All articles by Daniel Brooksbank – Page 65
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Dexia says it rejects approach from Fortis
BENELUX – Dexia says it has rejected an approach from rival banking and insurance group Fortis.
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IPE-QUEST: German consultant tenders CTA
GERMANY – A German investment consultant has tendered a CTA on behalf of an institutional client via IPE-Quest.
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Global pension assts rise 27% - Watson Wyatt
GLOBAL – Global pension fund assets grew by 27% to $8.4trn (€6.7trn) during 2004, according to consulting firm Watson Wyatt.
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Consultants ‘block schemes in commodities boom’
GLOBAL – Buy-and-hold investors such as pension funds could be missing out on the commodities boom because of the “stumbling block” of investment consultants, according to Deutsche Bank’s top researcher in the asset class (adds further comment).
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PWC hires UK pension regulator’s Farr
UK – PricewaterhouseCoopers says Richard Farr, most recently on secondment to the Pensions Regulator, has joined its pensions practice.
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North Yorks completes €1.3bn portfolio revamp
UK – The £880m (€1.3bn) North Yorkshire Pension Fund has completed the restructuring of its portfolio which has seen it shift to specialist managers from balanced.
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UK sees “several hundred” cross-border schemes
UK – The UK’s Pensions Regulator says there may be “several hundred” UK pension funds operating across borders – although there is no precise figure.
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UK university fund in behavioural finance move
UK - The £22bn (€32.4bn) Universities Superannuation Scheme is to assess fund managers using a behavioural finance tool, according to supplier firm Inalytics.
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Morgan Stanley IM seeks leaders as profits fall
GLOBAL – Morgan Stanley says it is looking for new leadership in asset management amid a 25% fall in quarterly profits at the division.
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Goldman: pension funds to sell €250bn of equities
GLOBAL – Goldman Sachs has estimated that pension schemes globally will remove some €250bn from equities – and buy around €150bn in fixed income.
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Watson to take over Mercer Dutch insurance arm
NETHERLANDS – Watson Wyatt is to take over Mercer Management Consulting’s 22-strong Mercer Oliver Wyman actuarial consulting business in the Netherlands.
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French banks’ CACEIS venture now operational
FRANCE – CACEIS, a new securities services joint venture between two major French banks, is now operational.
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Fortis eyes Dexia – newspaper
BENELUX – Fortis is looking at rival banking and insurance group Dexia, according to a Belgian newspaper report.
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Hewitt seen as possible buyer for Watson Wyatt
GLOBAL – Hewitt Associates could be a potential buyer for rival consulting firm Watson Wyatt, according to financial analysis website TheStreet.com.
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Hermes names head of commercial real estate
UK - Hermes, the asset manager owned by the BT Pension Scheme, has named Arlington Property Investors' Tim Turnbull as head of commercial real estate.
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Goldman Sachs AM gets €14.8bn inflows
GLOBAL – Goldman Sachs’ asset management business had $18bn (€14.8bn) of net asset inflows in its fiscal third quarter.
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Northern Trust names European pension sales VP
EUROPE – Northern Trust has named Ben Williams-Thomas as vice president responsible for custody sales to European pension funds.
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Threadneedle sells MM multi-management arm
UK - Threadneedle Asset Management has told its multi-management arm MM to Investment Manager Selection for an undisclosed price.
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Volkswagen scheme in €1.4bn portfolio transition
GERMANY – State Street Global Markets says it has completed a €1.4bn portfolio transition for the Volkswagen Pension Fund.
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Hewitt sees Philips deal implemented by year-end
NETHERLANDS – Hewitt Associates says the transfer of Philips’ Dutch pension administration should be completed by the end of the year.
