Markets – Page 203
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Raise dividends for stable investors, says ABP
NETHERLANDS - Roderick Munsters, chief investment officer at Stichting Pensioenfonds ABP, has urged companies to pay higher dividends to stable investors.
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IPE-QUEST: Seven new searches on system
GLOBAL - There are seven new or recent searches, representing more than €500m in total, currently on IPE-QUEST.
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Norway fund beats benchmark by 1.10 points
NORWAY – The Government Pension Fund – Global returned 11.1% in 2005, 1.10 percentage points above benchmark.
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Xerox scheme taps PIMCO for LDI
UK – The roughly £1.3bn (€1.9bn) Xerox UK Final Salary Pension Scheme has awarded a £260m “cutting edge” liability-driven mandate to fixed income fund management firm, PIMCO.
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TKP equities chief joins Dutch doctors
NETHERLANDS - Lex Ravensbergen, the former head of equities at Aegon Nederland’s TKP Investments, has been appointed as head of financial markets at Doctors Pension Funds Services.
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Lehman nabs Rubenstein for new pensions group
UK – Lehman Brothers has hired Alan Rubenstein, head of Morgan Stanley’s European pensions group, to launch a new pensions group.
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AP3 considering portable alpha
SWEDEN – Tredje AP-fonden, the roughly €20bn Third National Pension Fund/AP3, is currently brainstorming about portable alpha – although there is no guarantee it will be implemented.
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IPE-QUEST: Danish fund tenders $100m in Japan equities
DENMARK – A Danish pension fund has tendered up to $100m (euro) in Japanese all-cap equities via IPE-Quest.
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DeAM global institutional head named
GLOBAL – Deutsche Bank has appointed Roelfien Kuijpers as global head of Deutsche Asset Management’s institutional business with immediate effect.
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Ex-Hoogovens bond manager joins LODH
NETHERLANDS – Iwan Lont, former Stichting Hoogovens Pensionenfonds fixed income senior portfolio manager, has joined Lombard Odier Darier Hentsch & Cie (LODH) as a senior portfolio manager.
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€10bn German public scheme VBL streamlines
GERMANY – The Versorgungsanstalt des Bundes und der Länder, a €10bn pension fund for public sector employees, plans to streamline its operations to boost efficiency.
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ABP names Neal as equities CIO
NETHERLANDS – ABP Investments has named Edwina Neal as chief investment officer of equities and board member from March 1.
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Austrian funds returned 11.4% in 2005 - FVPK
AUSTRIA - Buoyed by strong equity markets, Austrian pension funds finished 2005 with an average return of 11.4% on assets, according to fund association FVPK.
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BGI gets E70bn asset inflow
GLOBAL - Barclays Global Investors gained £48bn (E70.4bn) in net new assets in 2005.
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IPE-QUEST: Canadian firm tenders three briefs
CANADA – A Canada-based investment management firm which serves institutional and high net worth markets has tendered three mandates via IPE-Quest.
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IPE-QUEST: Mideast co. tenders $50m of equities
GLOBAL – An investment company in the Middle East has tendered $50m (€41.8m) in actively managed Middle East and North African equities via IPE-Quest.
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Schroders axed over performance at Cheshire
UK – Schroders has been axed from a £500m (€731m) mandate by the £2bn Cheshire County Council pension fund following poor performance.
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Milk scheme axes MLIM
UK – The roughly £300m (€438m) Milk Pension Fund has fired Merrill Lynch Investment Managers from a £136m global fixed income mandate – awarding the brief to AXA Investment Managers instead.
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Commodities the new hedge funds - Credit Suisse
UK – Commodities could become more popular than hedge funds among institutional investors, according to Credit Suisse.
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Merrill sells MLIM to BlackRock
GLOBAL – Merrill Lynch is to sell its asset management arm Merrill Lynch Investment Managers to BlackRock for a gain of around $1.1bn (€923m).