Markets – Page 177
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Surrey appoints Newton for global equities
[14:30 CET 24-01] UK – Surrey County Council has appointed Newton Investment Management for a £140m global equity mandate.
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PFA cuts equity exposure over recession fears
[13:00 CET 24-01] DENMARK - Denmark’s PFA Pension made an above-benchmark return on investments of 1.2% in 2007, and has now slashed its equities exposure ahead of the recession it expects to see in the US.
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EC seeks pensions innovations, with guarantees (amended)
[16:00 CET 23-01] EUROPE – Officials at the European Commission and European Parliament have called for the development of innovations and new ideas in pensions delivery which could provide some level of guarantee to retirement incomes but which do not restrict investments to the fixed income market.
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Old Lady extends Northern Rock finance to March
[16:55 CET 21-01] UK – HM Treasury and the Bank of England is to extend the lending facilities to Northern Rock until 17 March under proposals for a new financing structure.
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CEE markets hit by inflation – conference
[16:58 CET 15-01] CEE – Inflation caused by rising food and energy prices in the aftermath of the credit crunch is the main worry of Eastern European economies but for some also a major opportunity, delegates at a conference in Vienna heard today.
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DNB questions pensions focus on market timing
[16:00 CET 15-01] NETHERLANDS - Dutch pension fund managers are unable to predict market movements, and should therefore focus on the best strategic asset allocation and rebalancing, a DNB study suggests.
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Berkshire withdraws Asia-Pacific search
[16:00 CET 15-01] UK – The Royal County of Berkshire pension fund has pulled plans to appoint an Asia-Pacific investment manager.
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Norwegian fund drops bomb investments
[16:40 CET 11-01] NORWAY – The Norwegian Government Pension Fund – global has withdrawn its investment in three firms producing cluster and nuclear bombs, but decided to continue keep its equity holding in German firm Rheinmetall.
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Pioneer Austria loses €600m in institutional assets
[15:45 CET 11-01] AUSTRIA – Over the last year 2007 Pioneer Investments Austria (PIA) saw outflows of €600m in its institutional business.
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Quest to find EM and Asian equities
[12:45 CET 11-01] DENMARK – Investment consultancy Kirstein Finans has put out a call on behalf of two Danish pension funds, using IPE-Quest, for equity managers interesting in managing emerging markets and Asia-Pacific mandates.
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Investment houses seek improved trading through Chi-X
[16:30 CET 10-01] UK – Alternative trading platform Chi-X Europe, which aims to compete with established European exchanges, has reached agreement with a consortium of shareholders taking a minority stake in the firm.
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Pensions regulation endangers stock exchange - IMF
[14:45 CET 09-01] BULGARIA – Strict pension fund regulations are hampering the development of the Bulgarian stock exchange (BSE) the International Monetary Fund (IMF) has warned.
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NewsStrathclyde reappoints custodian
[14:00 CET 08-01] UK - The £10bn (€13.5bn) Strathclyde pension fund has said it has reappointed its custodian Northern Trust.
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IPE-Quest: Large cap value required
[13:00 CET 08-01] EUROPE – An investment company based in continental Europe seeks an equity large cap value manager for a $50m mandate, using IPE Quest.
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SWIP forays into FoFs
[16:55 CET 07-01] UK – Scottish Widows Investment Partnership (SWIP) has launched two absolute return funds, making its first foray into the UK fund-of-funds market.
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Aberdeen emerges as Lothian winner
[16:40 CET 07-01] UK – Lloyd George Management has lost the right to manage the Lothian Pension fund’s emerging markets equity mandate, worth around £160m (€214.4m), to the benefit of Aberdeen Asset Management.
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ERAFP courts advice for diversification push
[15:00 CET 04-01] FRANCE – The €4.8bn French public service additional pension scheme, ERAFP is looking to hire a new investment consultant in its push for greater diversification.
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Unison awards SRI mandate
[15:00 CET 19-12] UK - Unison's Staff Pension Scheme has awarded its £140m (€195m) socially responsible investment equity portfolio mandate to Standard Life Investments.
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CalPERS pursues infrastructure and private equity
[12:30 CET 19-12] US - The California Public Employees Retirement System (CalPERS) has adopted a new asset allocation mix which will see $29bn shift out of bonds and equities to finance increased investment in private equity, infrastructure and real estate.
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Hungarian funds increase equity exposure
[13:00 CET 19-12] HUNGARY – Pension funds will start to double equity exposure in some portfolios from January in anticipation of new regulation.
