Investor Strategy – Page 193
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News
Study queries pension fund-low yield link
GLOBAL – A new academic study has questioned the notion that pension funds shifting into bonds will inevitably lead to long-term low bond yields.
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AP4 follows AP2 in rejecting Skandia bid
SWEDEN – The SEK138bn (€14.7bn) Fjärde AP-fonden, the Fourth Swedish National Pension Fund or AP4, has followed its sister fund AP2 in rejecting Old Mutual’s bid for insurance firm Skandia.
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AP2 says Skandia needs “peace and quiet”
SWEDEN – Andra AP-fonden, the Second Swedish National Pension/AP2, has waded into the bid for Skandia by Old Mutual, saying the Swedish insurer needs a period of “peace and quiet”.
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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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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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European funds taking less risk – State Street
EUROPE – European institutional investors are currently taking less risk in the equities market – instead they are ploughing cash into the fixed income market, according to State Street’s investor confidence index.
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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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Innovest launches nanotechnology index
GLOBAL – The potential dangers from product backlash and negative perception risks of nanotechnology development by corporations has been highlighted by the launch of a new Nanotechnology Index.
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MLIM hires F&C Netherlands' van den Heuvel
NETHERLANDS - Merrill Lynch Investment Managers has hired André van den Heuvel from rival F&C to head institutional sales and client service in the Netherlands, a new role.
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Horeca to expand private equity
NETHERLANDS – Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering industry fund, is looking at expanding its private equity coverage.
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Pension funds ‘central to world financial system’
GLOBAL – Pension funds are becoming more central to the global financial system because of the way they invest, the International Monetary Fund says.
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Consultant Fideas launches with €300m
EUROPE - New consulting firm Fideas Capital has officially launched, with clients having entrusted €300m in assets.
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Dutch schemes need €255bn of long bonds – IMF
NETHERLANDS – Dutch pension funds are estimated to require more than €250bn of long-term bonds to help them match liabilities, the International Monetary Fund says.
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Morgan Stanley asset management chief exits
GLOBAL – Morgan Stanley says Mitchell Merin is to retire as president and chief operating officer of its investment management arm.
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Dutch FTK makes pensions clear, minister says
NETHERLANDS – Dutch pensions minister Aart Jan de Geus has defended the delayed financial assessment framework, or FTK, saying it helps to remove the industry’s “secret code”.
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GES launches new client interface
EUROPE -- Stockholm-based SRI analysis house GES Investment Services is to launching a web-based extension to its active engagement service that will enable its institutional investor clients to become more involved in the engagement process.
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Russell predicts new alternative investing highs
GLOBAL – Hedge fund use by European institutions has increased dramatically in 2005. Their use by continental respondents to the Russell Investment Group’s seventh annual report on alternative investment the doubled to 48% from 24% in 2003.
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Northern Trust Global Advisors names CIO
GLOBAL - Northern Trust Global Advisors, the manager-of-managers arm of the Chicago-based bank, has named Andrew Smith as chief investment officer.
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Threadneedle names UK institutional head
UK – Threadneedle Investments has named Madeline Forrester as its new head of UK institutional business, effective immediately.
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Insight nabs MLIM’s Aitken as institutional head
UK – Insight Investment Management has named Sarah Aitken, head of defined contribution at rival Merrill Lynch Investment Managers, as its new head of institutional business.
