Investor Strategy – Page 203
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SSGA says German assets rise 43%
GERMANY - Asset management group State Street Global Advisors says its institutional assets under management in Germany and Austria rose 43% last year to total €10.1bn.
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Watson Wyatt confident in Credit Lyonnais case
UK – Consulting firm Watson Wyatt is confident it will win a negligent advice claim brought against it by Credit Lyonnais that was first filed almost two years ago.
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Belgian construction fund officer joins regulator
BELGIUM - Ann Devos, investment officer for the €450m social fund for the construction sector, FSE, is to leave the fund and join the Belgian pension regulator.
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Allianz’s European asset chief Goldbrunner exits
GERMANY - Johann Goldbrunner, head of Europe for Allianz Global Investors, has decided to resign on April 1 – just three months after taking on the role.
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Germany’s Babcock Pensionskasse removes CEO
GERMANY - Babcock Pensionskasse, the €460m pension fund of failed engineering firm Babcock, has stripped chief executive Günter Schulze of his responsibilities, sources say.
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Two regional Icelandic schemes in €312m merger
ICELAND - Two regional Icelandic pensions funds, Sudurnes and Sudurland, plan a merger.
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Suez in Luxembourg pension pooling move
LUXEMBOURG – Kredietbank’s Luxembourg arm says it has launched a €1.1bn pension pooling vehicle for the Suez-Tractebel group.
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Denmark: occupational schemes now ‘dominant’
DENMARK – Occupational pension schemes are taking a “clearly dominant” position in the pension savings market, says the Danish Insurance Association.
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German dentists hire Alpha as consultant
GERMANY - VZB, a Berlin-based pension fund for dentists, says it has hired Alpha Portfolio Advisors as its new investment consultant for its €700m portfolio.
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CSAM hit by €2bn loss of two large accounts
SWITZERLAND – Credit Swiss Asset Management lost CHF3.2bn (€2bn) in assets under management in the fourth quarter – due to the loss of two large accounts.
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European fund body FEFSI becomes EFAMA
EUROPE – FEFSI, the European investment funds body, has officially changed its name to the European Fund and Asset Management Association.
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Dutch doctors implement new accounting system
NETHERLANDS – The €11bn Dutch doctors pension fund SBA has implemented a new portfolio management and accounting system.
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Cominvest sees up to €700m inflows in 2005
GERMANY – The chief executive of Commerzbank’s fund arm Cominvest expects up to €700m in inflows this year – on top of broadly unchanged assets under management in 2004.
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New consolidation moves in Iceland
ICELAND -- Two mergers of Icelandic pension funds have been proposed while the possibility of a third is being discussed.
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Putnam’s investment head Oristaglio retires
US - Steve Oristaglio is to retire as head of investments at Putnam Investments and be replaced by his deputy Kevin Cronin.
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Assets surge NIB’s asset management arm
NETHERLANDS – NIB Capital, the bank owned by the two largest Dutch pension funds ABP and PGGM, said assets under management at its investment management unit rose 70% in 2004.
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New hires at Swiss consultant Ecofin
SWITZERLAND - Ecofin, one of Switzerland’s largest investment consultants, has brought in a pair of new senior advisers and, for the first time, has opened itself up to private banking clients.
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Watson Wyatt restructures Stockholm office
SWEDEN – Watson Wyatt says it is restructuring its Stockholm-based benefits consulting team – with some staff being based in the UK in future.
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Dutch central bank confirms FTK on schedule
NETHERLANDS – The Dutch central bank has reaffirmed that the FTK, the new financial assessment framework for pension schemes, will come in as planned on January 1 2006.
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Ireland’s NPRF to put 18% into new asset classes
IRELAND – The €11.69bn National Pensions Reserve Fund has targeted an 18% allocation to property, private equity and commodities by 2009 – but it will not invest in hedge funds for the moment.
