Markets – Page 208
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FRR’s invested assets return 15% in 2005 so far
FRANCE – The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has made a return of more than 15% on its invested mandates so far this year.
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JP Morgan European custody co-head Bourgi exits
EUROPE – JP Morgan’s European custody co-head Ramy Bourgi is to leave amid a restructuring of the division’s management.
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IPE-QUEST: Swiss fund tenders Japan equities
SWITZERLAND – A Swiss pension fund has tendered up to $70m (€58.4m) in Japanese equities via IPE-Quest.
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PGGM’s equities director Sol replaced
NETHERLANDS – Dutch health care fund PGGM has replaced Marjolein Sol as director of equities with Leo Lueb as of November 1.
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AMF names new bond head
SWEDEN – Bengt Björkén has been named head of bond management at AMF Pension.
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JP Morgan Chase assets rise 13% to $828bn
GLOBAL – Total assets under management at JP Morgan Chase surged to $828bn (€692bn) in the third quarter of 2005, up 13% since the third quarter of last year and up $45bn since June 30.
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Lloyd’s taps AEGON for bond brief
UK – The Lloyd’s Superannuation Fund – part of Lloyd’s of London - has awarded an £185m (€271m) fixed income mandate to AEGON Asset Management UK.
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Swedish schemes to restructure amid directive
SWEDEN - Top Swedish pension funds are set to re-structure their entire portfolios in the wake of the introduction of mark-to-market valuation of liabilities as part of the pensions directive.
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Watson Wyatt seeking manager researchers
UK – Consulting firm Watson Wyatt has advertised job vacancies for manager researchers, based in Reigate or London.
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IPE-QUEST: European bank tenders three mandates
EUROPE – A European bank has tendered three mandates, covering UK and Ireland equities via IPE-Quest.
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Fund-of-hedge-funds ‘worst for seven years’
GLOBAL – Fund-of-hedge fund managers are suffering the worst market conditions for seven years, according to Standard & Poor’s.
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Hermes expects to raise hedge allocation
UK – Hermes Pension Management – the asset manager of British Telecom’s £50bn (€74.2bn) pension scheme - today said it expects to increase its hedge fund allocation from 2% over the next few years.
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APK takes over BMW pension fund in Austria
AUSTRIA – APK, a €2bn pension fund open to all industries in Austria, is to take over administration of the Austrian pension fund of German carmaker BMW from January 2006.
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Sweden consults on traffic-light pension model
SWEDEN – The Swedish financial regulator has launched a consultation on a proposal to identify possible problems at occupational pension funds and life companies using the so-called traffic-light model.
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Germany: Aventis scheme in €800m FX move
GERMANY – Aventis Pensionstreuhand, the €1.9bn pension fund for pharmaceuticals giant Sanofi-Aventis, has awarded State Street Global Advisors an €800m currency overlay mandate.
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US-based Principal to open Munich branch
GERMANY – US fixed-income specialist Principal Global Investors plans to open a branch in Munich from January 2006.
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Railpen chief resisting flight to bonds
UK – Chris Hitchen, chief executive of the £15.5bn (€23bn) Railways Pension Trustee Co., Railpen, says that pension schemes’ shift to fixed income was an “overreaction”.
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IPE-QUEST: Danish manager tenders high yield
DENMARK - Kirstein Finans has tendered an initial $100m in global high yield bonds on behalf of a Danish asset manager via IPE-Quest.
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IPE-QUEST: Three new searches on system
GLOBAL – There are three new searches on the IPE-Quest system, for global commodities, liability solutions and Australian equities.
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Coats awards €2.2bn actuarial brief to Mercer
GLOBAL – Textile firm Coats has named Mercer Human Resource Consulting as global actuary covering £1.5bn (€2.2bn) of pension assets.
