Investor Strategy – Page 199
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Robeco to assist schemes in voting
NETHERLANDS - Robeco is to offer to assist its larger customers such as pension funds to influence listed companies to meet socially responsible investment criteria.
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ISS targets Europe with Deminor purchase
EUROPE – US-based corporate governance and proxy voting firm Institutional Shareholder Services is to launch a European operation following the purchase of rival Deminor’s governance arm.
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McAlpine taps SEI for equities
UK –Alfred McAlpine Pension Trustees has awarded SEI Investments a £45.6m (€66.3m) global developed markets equity mandate.
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Fortis gets OK for Luxembourg pooled LDI funds
LUXEMBOURG - Fortis Investments says it has received approval for pooled liability-driven investment funds from Luxembourg.
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Equities forgotten as UK schemes shift €58bn
UK – Equities are becoming the “forgotten asset class” as UK pension schemes shifted £40bn (€58.3bn) out of stocks into bonds last year.
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Pensions directive at risk amid German vote
GERMANY - Germany could miss the deadline for transposing the directive on occupational pensions if early elections take place, pension experts say.
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GSAM names Curtis head of sub-advisory
UK - Goldman Sachs Asset Management has appointed Merrill Lynch’s David Curtis to the new role of head of sub-advisory.
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Commodities need governance - consultant
UK - Lack of time and resources are among the factors behind the lack of development in commodities in the UK, according to a Watson Wyatt consultant, Alasdair Macdonald.
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Watson Wyatt names German investment head
GERMANY - Watson Wyatt’s Munich office has hired a senior manager from investment consulting firm FERI to head its German investment consulting team. (Updates with Watson comment.)
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Watson Wyatt questions TAA overlay
GLOBAL - Consulting firm Watson Wyatt has queried the use of tactical asset allocation, saying the evidence to support TAA is "mixed", especially when used to overlay a total fund.
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German BVI sees no need to regulate hedge funds
GERMANY - Fund industry association BVI has urged the government not to tighten regulation of hedge funds active in Germany, arguing that current rules are sufficient.
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Watson Wyatt says Credit Lyonnais case dismissed
UK – Pension consulting firm Watson Wyatt says the negligent advise case brought against it by Credit Lyonnais has been dismissed.
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NAPF: Turner says pension system unfit
UK - Adair Turner says that almost all the new information gathered since his Pension Commission’s first report last October has confirmed that the existing system “is not fit for purpose”.
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NAPF: PPF chief discusses benefits
UK - The new Pensions Protection Fund would only cut benefits as a “last resort” says PPF chairman Lawrence Churchill.
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Germany’s MLP taps Alpha for €800m
GERMANY - Investment consultant Alpha Portfolio Advisors says it has been awarded €800m by independent financial advisory firm MLP.
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L&G ready for capped index investments fund
UK – Legal &General is ready to operate a capped index investment fund for institutional investors requiring broader diversification as large cap UK companies increase in size and weighting.
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MLIM taps Gartmore’s Price as CIO EMEA Pacific
UK – Merrill Lynch Investment Managers (MLIM) has hired Gartmore’s Quintin Price as chief investment officer (CIO) for the Europe, Middle East, Africa and Pacific region (EMEA Pacific).
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Zalm clarifies role of certifying actuaries
NETHERLANDS - Certification by an external actuary does not need to be mandatory for insurers, said Dutch finance minister Gerrit Zalm.
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Cerberus in ‘take-over talks’ with NIBCapital
NETHERLANDS -The Dutch private merchant bank NIBCapital is reportedly in discussions regarding a take-over from US investment company Cerberus Capital Management.
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West Sussex CC makes State Street sole custodian
UK - The 740 million pounds (Euro 1.08 billion) West Sussex County Council Pension Fund has consolidated custody of its assets under State Street Corporation, one of its existing custodians.
