Markets – Page 214
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Breedon’s promotion leaves gap at LGIM
UK – Tim Breedon, group director of investments at Legal & General Investment Management, is to take over from L&G group chief executive David Prosser.
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Rabobank pension fund yields 9.3%
NETHERLANDS - The pension fund of Dutch financial services group Rabobank made a return of 9.3% in 2004 – the same as 2003.
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IPE-QUEST: Dutch fund tenders €150m
NETHERLANDS – A Dutch pension fund has tendered three equity mandates totalling up to €150m via IPE-Quest.
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McAlpine taps SEI for equities
UK –Alfred McAlpine Pension Trustees has awarded SEI Investments a £45.6m (€66.3m) global developed markets equity mandate.
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Equities forgotten as UK schemes shift €58bn
UK – Equities are becoming the “forgotten asset class” as UK pension schemes shifted £40bn (€58.3bn) out of stocks into bonds last year.
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MLIM’s Germany sales head joins AXA
GERMANY - Frank Richter, director of institutional sales for Germany and Austria at Merrill Lynch Investment Managers, is to join AXA Investment Managers.
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Commodities need governance - consultant
UK - Lack of time and resources are among the factors behind the lack of development in commodities in the UK, according to a Watson Wyatt consultant, Alasdair Macdonald.
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IPE-Quest: Swiss manager tenders €150m
SWITZERLAND – A Swiss asset manager has tendered the management of a €150m quantitative global equities portfolio via IPE-Quest.
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Watson Wyatt questions TAA overlay
GLOBAL - Consulting firm Watson Wyatt has queried the use of tactical asset allocation, saying the evidence to support TAA is "mixed", especially when used to overlay a total fund.
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IPE-Quest: Swiss scheme tenders US equities
SWITZERLAND – A Swiss pension Fund has put out a request for tender for actively managed US small- to mid-cap equities via IPE-Quest.
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German BVI sees no need to regulate hedge funds
GERMANY - Fund industry association BVI has urged the government not to tighten regulation of hedge funds active in Germany, arguing that current rules are sufficient.
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IPE-QUEST: Swiss fund tenders US large-caps
SWITZERLAND – A Swiss pension fund has tendered a $6m (€4.75m) actively managed US large-cap equities mandate via IPE-Quest.
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Pensions a “massive market” says Allianz
GERMANY - German insurance giant Allianz says the private retirement field is a “massive market”.
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Watson Wyatt UK hedge researcher moves to US
UK/US – Gideon Nieuwoudt, a hedge fund researcher at Watson Wyatt in the UK, has transferred to Watson Wyatt Investment Consulting in the US.
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Germany’s MLP taps Alpha for €800m
GERMANY - Investment consultant Alpha Portfolio Advisors says it has been awarded €800m by independent financial advisory firm MLP.
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Shell Pensions’ Hickey leaves to join F&C
UK – F&C Asset Management says it has hired Japanese equity specialist Adrian Hickey from oil group Shell’s in-house pensions management arm.
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ABN Amro Mellon poaches DB's Korsanke
EUROPE - ABN Amro Mellon Global Securities Services has poached Robert Korsanke from Deutsche Bank as the new senior sales manager for its Frankfurt office.
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MLIM taps Gartmore’s Price as CIO EMEA Pacific
UK – Merrill Lynch Investment Managers (MLIM) has hired Gartmore’s Quintin Price as chief investment officer (CIO) for the Europe, Middle East, Africa and Pacific region (EMEA Pacific).
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Three Danish schemes plan €5bn merger
DENMARK – The defined contribution pension schemes B&A Pension, HTS Pension and PKS - which cover nearly half a million workers - are to merge in a single entity worth DKK42bn (€5.7bn).
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EFRP to complain to EU over pension tax
EUROPE - The European Federation for Retirement Provision plans to make a formal complaint to the European Commission over discriminatory pension taxation.
