Markets – Page 211
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Mercer hires Clarke for European research
EUROPE – Mercer Investment Consulting says it has hired Watson Wyatt’s Debbie Clark as a member of its European manager research team.
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GSAM says it wins €785m from local authorities
UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Skandia hands €500m equities brief to NTGI
SWEDEN – Skandia Liv has handed a €500m passive international equities mandate to Northern Trust Global Investments.
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Low rates hit German industry schemes
GERMANY - German industry schemes known as Versorgungswerke have reported a slight decline in the annual return on their investments owing to low interest-rates.
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Delta Lloyd hit by €240m mandate loss
NETHERLANDS – Delta Lloyd says its flow of new investments “fell back” in the first half – partly due to the withdrawal of a €240m mandate.
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Management change at Dutch pharmacists’ fund
NETHERLANDS - Marcellino Kropman is to take over from Dick Wenting as director of the €776m Dutch Pension Fund for Pharmacists’ Employees, or PMA.
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Hewitt’s Farquhar hire is response to bond shift
UK – Hewitt Associates said its decision to hire former Lombard Odier Darier Hentsch fixed income head Christine Farquhar is a response to pension fund demand for fixed income.
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Danica Pension makes 8.5% return in first half
DENMARK – Danica Pension, the pension and life insurance arm of Danske Bank, made an 8.5% return on assets in the first half of 2005.
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IPE-QUEST: Danish fund tenders €134m
DENMARK - A Danish pension fund has tendered an active global developed markets equities mandate worth up to DKK1bn (€134m) via IPE-Quest.
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Blue Sky hires ex-Dutch bond agency official
NETHERLANDS – Blue Sky Group, which manages the pension assets of airline KLM, has hired a former official of the Dutch State Treasury Agency.
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Ex-Petercam exec starts asset mgmt consultancy
NETHERLANDS - Former Petercam Netherlands managing director Edwin Klaver says he has started his own asset management consultancy, aimed at professional investors.
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Bayer gains €200m from shift to DC in the US
GERMANY – Industrial giant Bayer expects to gain a one-time bonus of €200m in the third quarter, mostly as a result of changes to its US pension plan.
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Coats Pensions chairman Dow steps down
UK – Sam Dow, chairman of board of Coats Pensions Trustee Ltd., has stepped down to be replaced by Laurie Todd of Guinness Peat Group, according to the scheme’s web site.
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Essex scheme set to change asset allocation
UK – The more than £2bn (€2.9bn) Essex County Council Pension Fund says it is poised to change its asset allocation as soon as possible.
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Pearson pension scheme manager retires
UK – Pam Jenkins, secretary and manager of the £1bn (€1.5bn) defined benefit group pension of publishing group Pearson, has retired.
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Schroders’ Zerner joins Lazard AM as marketer
UK - Lazard Asset Management has appointed Schroder Investment Management’s Mary Zerner as head of central marketing services.
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Britannic AM makes international hire
GLOBAL - Britannic Asset Management has appointed Michael Borkan, senior vice-president at Sinopia Asset Management, to develop its institutional and retail distribution outside the UK.
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EU must develop fund market for pensions - IMF
EUROPE – The European market for investment funds needs more work in the face of shifting demographics and the need for retirement savings, says the International Monetary Fund.
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Nestlé’s Spanish scheme eyes infrastructure
SPAIN - The €250m Spanish pension fund of Swiss-based food giant Nestlé says it may turn to infrastructure investments in its quest to broaden investments allocation.
