Investor Strategy – Page 196
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PGGM first to introduce improved statement
NETHERLANDS – Dutch healthcare scheme PGGM says it is the first in the country to introduce a new and more transparent statement of pension rights for its clients.
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Dutch painters scheme puts €225m with Altera
NETHERLANDS – Altera Vastgoed says it has been awarded €225m of real estate assets by the Dutch painting industry fund BPF Schilders.
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Commerzbank asset management earnings tumble
GERMANY – First-half earnings at Commerzbank’s asset management division fell by almost half amid a steep rise in operating costs due to stock options for top executives.
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ABP continues UK real estate moves
UK/NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, has continued to buy into UK real estate firms, according to company filings.
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Watson Wyatt’s Hoogeveen joins Mercer
NETHERLANDS – Former Watson Wyatt consultant Jan Hoogeveen has been appointed principal at Mercer's retirement and international practice in Amstelveen.
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Standard Life under scrutiny at South Yorkshire
UK – The £2.8bn (€4bn) South Yorkshire Pension Fund is seeking an advisor for a £220m commercial property portfolio – putting incumbent Standard Life Investments under scrutiny.
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F&C names Standard AM’s Mann director emerging debt
EUROPE - F&C Asset Management has recruited Jonathan Mann, formerly with Standard Asset Management, as director of the emerging debt team. This is a new position within a team that mostly caters for institutional investors.
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AXA IM to buy Framlington Group Ltd for €252m
UK – AXA Investment Managers (AXA IM) is poised to buy boutique Framlington Group Ltd from HSBC Holdings and Comerica Inc for £174m (€252.1m).
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Watson loses consultancy brief with Durham CC
UK – Consultancy firm Watson Wyatt has lost a brief with the £1bn (€1.44bn) Durham County Council Superannuation Fund.
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SWIP appoints southern Europe head
EUROPE – Scottish Widows Investment Partnership (SWIP) has appointed Corrado Amari, 54, as head of southern Europe.
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BGI launches 16 sterling and euro LDI funds
EUROPE- Barclays Global Investors (BGI) has launched 16 new pooled liability driven investment (LDI) funds aimed at UK and European pension funds that want to outperform their liabilities.
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Watsons unveils new investment approach
EUROPE – International consultancy Watson Wyatt has given details of its Advanced Investment Solutions (AIS) approach to investment consulting for clients, designed to “join up investment strategy and manager selection”.
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UK schemes ‘shouldn’t count on tax loophole’
UK - Standard Life says pension funds and their advisers shouldn’t count on a grey area in current tax rules that let some members claim tax privileges – because the authorities are set to end it.
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IPE-QUEST: €10.6bn fund tenders hedge funds/TAA
EUROPE - A $13bn (€10.6bn) European pension fund has tendered for up to five global macro hedge fund/tactical asset allocation (TAA) overlay managers via IPE-Quest.
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UK protection fund ‘to strangle DB in charities’
UK – The Pensions Trust has warned that the Pension Protection Fund and the new FRS17 accounting standard could “completely strangle DB provision in the charitable sector”.
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The balanced mandate is back, industry says
UK – The traditional balanced mandate appears to be making a return, albeit under a new guise, according to investment consultants and asset managers.
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Towers Perrin buys German consulting firm Rauser
GERMANY - International consulting firm Towers Perrin has agreed to buy German occupational pensions advisor Rauser AG for an undisclosed sum.
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Watson's Thornton in share sale (Update)
GLOBAL – Paul Thornton, European senior partner at consulting firm Watson Wyatt, has sold $2.63m (€2.2m) worth of shares in the company (Updates with clarification).
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Hewitt, Bode launch German joint venture
GERMANY – Consulting firm Hewitt Associates has formally launched its German joint venture with Bode Grabner Beye, a Munich-based actuarial and benefits consultancy.
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Union Investment unveils private pension
GERMANY - Union Investment says it's the first asset manager in Germany to rollout a private pension targeted at pensioners and others above the age of 55.
