Investor Strategy – Page 181
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FTSE research director Beckley departs
GLOBAL – FTSE Group’s research and development director Carl Beckley is leaving the index provider after almost eight years to join Record Currency Management.
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Netherlands’ de Geus rejects taxation of AOW
NETHERLANDS - Social affairs minister Aart Jan de Geus says he rejects the opposition Labour Party’s proposal to tax the AOW state pension.
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UK’s Kent County Council rejigs manager roster
UK - The roughly £2.3bn (€3.4bn) Kent County Council pension scheme has axed Goldman Sachs Asset Management from a roughly £350m UK and overseas equities mandate amidst a strategic asset reshuffle at the scheme.
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Barclays Global Investors’ ETF head Lavine exits
EUROPE – Bruce Lavine, head of Europe at Barclays Global Investors’ iShares exchange-traded funds arm, has left.
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Insight, Russell team up to offer LDI
UK – Insight Investments and Russell Investment Group have teamed up to offer customised liability-driven investment solutions to mid-sized UK pension funds.
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Dutch minister: don’t blame me for FTK impact
NETHERLANDS – Dutch social affairs minister Art Jan de Geus says he takes no responsibility for the impact on pension funds’ asset allocation following the new Financial Assessment Framework (nFTK).
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Hermes CIO Mustoe joins Pictet
UK – Nick Mustoe, chief investment officer of Hermes Pensions Management, will quit at the end of May to become CIO head of equities of Pictet Asset Management (updated).
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Schroders wins €617m Countrywide brief
UK - Schroders says it has been awarded a further £421m (€617m) by Countrywide Assured plc in addition to the £400m it already managers.
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Swiss schemes want investment rules relaxed
SWITZERLAND – Swiss occupational pension funds want investment regulations relaxed, according to a survey by Swisscanto Asset Management.
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DNB stress tests ‘to show funds’ improvement’
NETHERLANDS – Stress tests currently being conducted by the Dutch central bank are expected to show a “significant improvement” in Dutch pension funds’ coverage ratios, according to a new report.
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Saxony-Anhalt plans civil service pension fund
GERMANY – The eastern German state of Saxony-Anhalt plans to set up a pension fund for its civil servants from 2008, saying the move is necessary to relieve long-term pressure on its budget.
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Hymans sees shift to global equities, bonds
UK – The UK’s 50 largest fund managers saw an increased shift from UK equities to fixed income and global equities in 2005, according to an annual survey by Hymans Robertson.
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Pictet boosts German institutional team
GERMANY – The German arm of Pictet Asset Management has recruited Tanja Traupe from rival Invesco for the new position of director, institutional investors.
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Watson Wyatt names new Europe investment head
EUROPE - Senior investment consultant Paul Trickett is to take over as European head of investment consulting at Watson Wyatt from Kevin Carter, who will retire.
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IMF to tap external bond managers
GLOBAL – The International Monetary Fund is to set up a $8.7bn (€6.8bn) investment account – putting at least some of the assets with external bond managers.
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Morgan Stanley IM names alternatives chief
GLOBAL – Morgan Stanley’s prime broker heavyweight and hedge fund specialist, Stu Bohart, has been appointed chief of alternative investments at Morgan Stanley Investment Management.
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Mn Services names equities director
NETHERLANDS - Dutch fiduciary management firm Mn Services has named Patrick Wierckx as director of equities.
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Blue Sky wins €150m Air UK business
UK – Blue Sky Group, which manages the pension assets of KLM, it to run assets of a UK scheme affiliated to the Dutch airline.
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Swiss schemes still cutting domestic securities
SWITZERLAND – Swiss pension funds have continued to cut their allocation to domestic bonds and equities, according to a report from Credit Suisse.
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ATP makes €470m from hedging
DENMARK – ATP, Denmark’s largest pension fund, made a profit of DKK3.5bn (€469.6m), from its hedging activities in the first quarter of 2006.
