All articles by Helen Avery – Page 15
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Sweden’s SEB posts E287bn profit as AUM rises
SWEDEN – SEB Group has announced net profit of 2.64 billion Swedish crowns (287 million euros), and an increase in assets under management for its fund units.
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BAA scheme in partial shift to enhanced indexing
UK – The pension scheme of international airports group, BAA, has moved some of its portfolio out of a passive strategy into an enhanced index strategy.
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Italy’s Inpdap sees retirement age rising to 70
ITALY – A senior public sector social security figure has said the retirement age for Italian citizens could be increased to 70.
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Insight multi-managers move to Gartmore
UK – Insight Investment has lost its five-strong multi-manager team to Gartmore Investment Management – though Insight says its multi-manager conviction is “unchanged”.
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SEI expands its institutional team
UK – SEI Investments has expanded its institutional team with the creation of three new roles, including a new appointment.
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Institutions lift German spezialfonds investment
GERMANY – Institutional investment into German spezialfonds increased in the second quarter of 2003, according to new statistics from the BVI Bundesverband Investment and Asset Management.
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Global fund managers go underweight bonds - Merrill
GLOBAL – Fund managers have dramatically changed their interest rate views over the past month, leading to a sharp move underweight in bonds, according to the latest fund manager survey by Merrill Lynch.
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Blue Sky Group backs new Kempen property fund
NETHERLANDS – Blue Sky Group, the manager of the pension assets of Dutch airline KLM, has been the first to sign up to Kempen Capital Management’s European real estate fund.
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SWIP hires again from Edinburgh Fund Managers
UK – Beleaguered Scottish fund manager Edinburgh Fund Managers has lost another of its UK equity team to rival Scottish Widows Investment Partnership.
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Germany’s Ruerup sees benefits falling further
GERMANY – Government adviser Bert Ruerup has warned that German pensioners must be prepared for statutory pension benefits to fall even further.
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Foreign firms top Austrian fund of funds market
AUSTRIA – Foreign providers of funds of funds have increased their share of the Austrian market, with US houses now dominant.
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SWIP swoops for Edinburgh’s Waugh
UK – Robert Waugh, head of UK equities at Edinburgh Fund Managers, is leaving to join Scottish Widows Investment Partnership.
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Scandinavian fund tenders EM equity via IPE-Quest
SCANDINAVIA – A Scandinavian industry-wide pension fund has put out to tender a global emerging markets equity mandate via IPE-Quest.
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LAPFF tenders corporate governance mandate
UK – The Local Authority Pension Fund Forum has put out to tender a mandate for an adviser in the field of corporate governance.
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Mercer offers “alpha transport” derivatives idea
EUROPE – Mercer Investment Consulting is offering a new concept for pension fund managers that involves the use of derivatives in constructing portfolios of independent alpha and beta sources.
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Morley Fund Management CFO Quirke to leave
UK – Gerard Quirke, chief financial officer at Morley Fund Management, has decided to leave the company in search of “new challenges in the fund management industry”.
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MLIM hires Singer & Friedlander’s Poole
UK – David Poole, former director of marketing at Singer Friedlander Investment Management, has joined Merrill Lynch Investment Managers.
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State Street’s research chief Persaud leaves
UK – Avinash Persaud, high-profile head of global research at State Street Corp., has left the company to run a currency investment fund.
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Siemens continues to cut pension shortfall
GERMANY – Industrial group Siemens has continued to reduce the shortfall to its 14.9 billion-euro pension fund, and has increased its allocation to equities.
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SSGA eyes pension funds with active gilt strategy
UK – State Street Global Advisors has launched an active gilt, or UK government bond, strategy aimed at UK pension funds.
