All articles by IPE staff – Page 57
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Calor cuts off P&D and Merrill
UK - The UK retirement benefits fund for gas group Calor has dropped Phillips & Drew and Merrill Lynch from a pair of £140m balanced mandates
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Nomura launches Japanese tech fund
London based Nomura Asset Management UK (NAM) has launched a Japanese technology fund to compliment its range of Far East funds for European investors.
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Baring gets Boosey money
The £21mUK Boosey & Hawkes pension scheme has handed a £10m fixed-income mandate to Baring Asset Management
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Consultant covets multi-manager business
UK - Consulting actuary and pension administrator Punter Southall is to merge with South Africa’s Gensec International Asset Management in a bid to enter the multi manager market..
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Multinational asset questionnaire
Bacon & Woodrow in collaboration with IPE have conducted a survey on the use of common pension asset managers by multinationals in different countries
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Dutch doctors' funds to collaborate with PGGM
NETHERLANDS - The Netherlands' second largest pension fund, the Dfl110bn (e50bn) PGGM scheme, has signed a letter of intent on collaboration with the board of the Fl25bn (e11bn) Dutch Doctors' Pension Funds (Artsenpensioenfondsen).
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Another trophy for Carlson
SWEDEN - The Swedish municipality of Bollnäs has appointed Skandia owned Carlson Investment Management in Stockholm to run a SEK140m (e16.3m) international equity portfolio - replacing incumbents Alfred Berg Asset Management.
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Diageo decides on custodian
UK - The UK-based Diageo Pension Scheme has re-appointed The Bank of New York (BNY) to act as global custodian for its fund, valued at £3.6bn (e6bn)
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Settlements across borders
EUROPE - SIS SegaInterSettle, the Swiss settlement system, and its UK partner, CRESTCo, have started co-operation to offer cross-border securities settlement in pan-European exchange trading.
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Securities lending online
USA - CalPERS, the $160bn California Public Employee's Retirement System has announced that it has joined forces with South Africa's Old Mutual to establish eSecLending, LLC, a new firm offering a web-based auction system for securities lending.
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Three more funds opt for BGI
UK - Barclays Global Investors (BGI) has been awarded three new mandates by the UK based pension funds of companies ArvinMenitor, Lasmo and Thomson Directories'.
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Russell switch
UK - Frank Russell has appointed AXA Rosenberg Investment Management to manage a Europe ex-UK Broad Market portfolio, previously run by Credit Suisse Asset Management (CSAM).
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Cornwall splits global mandate
UK - The £600m (e990m) Cornwall County Council Superannuation Fund has split a Merrill Lynch Investment Managers (MLIM) global balanced mandate into two, following a review in conjunction with consultants Hymans Robertson.
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Howlett quits Baillie Gifford
UK - Gareth Howlett, who was a director for Baillie Gifford Overseas, has joined Edinburgh-based Stewart Ivory Wealth Management, the private client division of Colonial First State Division which has assets for £22bn.
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Van Rees stays on at EFRP
EUROPE - Kees van Rees will remain chairman of the European Federation for Retirement Provision (EFRP) until at least October 2001, after he was elected to remain in his current position at the EFRP's annual conference meeting of members in October.
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Northamptonshire county appoints Northern Trust
UK - Northamptonshire county council has appointed Northern Trust to provide global custody for its £750 (E1.12bn) pension fund.
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Exel appoints Chase Manhattan
UK - Exel Retirement Plan has appointed Chase Manhattan Bank's global investor services division to provide global custody for approximately £1bn (E1.7bn) in assets.
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AP funds in competition
SWEDEN - Management of Sweden’s pay as you go pension system is undergoing a major restructuring due to finish by the beginning of next year.
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French delay
FRANCE - The French government has delayed plans to detail the structure of its reserve fund (Fonds de Reserve), including the all important question of who will manage the funds assets – set to reach around a trillion francs by the year 2020.
