Markets – Page 224
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Ex-Watson's Douse leaves Schroders
EUROPE - Susan Douse, the former Watson Wyatt consultant who left to join Schroders, is to leave the asset management firm after six months in the job.
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UK milk fund awards bonds to Axa
UK - The 275 million-pound (398 million-euro) Milk Pension Fund has diverted 33 million pounds from a gilts portfolio managed by Merrill Lynch Investment Managers into a segregated UK fixed income mandate managed by AXA Investment Managers.
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Fonditel among winners at Spanish awards bash
SPAIN - Fonditel, the investment house that began life as the Telefonica pension fund, was among the main winners last night at the Spanish pensions industry awards on a good night for the domestic managers.
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ICI sets aside E360m for pension contingencies
UK – Chemicals firm ICI has set aside 250 million pounds (360 million euros) in a contingency fund to help it meet its pension liabilities, the firm’s benefits director says.
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IPE-QUEST: Insurer tenders E40.5m
LUXEMBOURG - A mutual insurance company has launched a request for tenders for an actively managed large cap global equity mandate via IPE-Quest.
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AP2 awards eight fixed income mandates
SWEDEN – Andra-AP fonden, the Second Swedish National Pension Fund or AP2, has awarded fixed income mandates to eight external managers.
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Industriens looking to add value with currency
DENMARK - The four billion-euro Danish industry pension fund, Industriens Pensionsforsikring, could decide to adopt currency management strategies next year to “add value”, its chief investment officer has told IPE.
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Interest rates rattle Swiss funds, report says
SWITZERLAND - Swiss pension funds’ confidence has slumped, bashed by the latest developments in global interest rates, says asset manager Bearbull Gestion Institutionelle.
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DeAM unfazed by E4.3bn UK mandate losses
EUROPE – Deutsche Asset Management has said a total of three billion pounds (4.3 billion euros) in recent pension fund mandate losses is not such a “big shock”.
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Diageo transfers shares to cut E1.1bn deficit
UK – Drinks firm Diageo has transferred four million shares in US cereal maker General Mills to its UK pension plan to help cut the scheme’s 750 million-pound (1.1 billion-euro) deficit.
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UK’s Dorset allocates to hedge funds in revamp
UK - The 900 million-pound (1.3 billion-euro) Dorset County Pension Fund has allocated five percent of its portfolio to hedge funds investments as part of a review of investment strategy.
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Dutch pension funds fail IMF stress tests
NETHERLANDS – Dutch pension funds’ solvency ratios could be hit by any number of “plausible macroeconomic shocks” that have been modelled by the International Monetary Fund in a series of hypothetical ‘stress tests’.
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Credit Suisse AM opens Dutch office
NETHERLANDS - Credit Suisse Asset Management has decided to open an office in Amsterdam targeting institutional clients.
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AP3 equities chief Eriksson leaves
SWEDEN – The 16.6 billion-euro Third Swedish National Pension Fund, Tredje AP-fonden or AP3, says Magnus Eriksson - head of equities management - is leaving the fund.
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Netherlands’ de Geus firm amid strike threat
NETHERLANDS - Dutch Minister of Social Affairs, Aart Jan de Geus, has shown in answers presented to the Dutch parliament that he is not willing to consider reopening talks with the social partners on the pre-pension issue.
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IPE-QUEST: Swiss fund tenders European equities
SWITZERLAND – A Swiss pension fund has tendered 70 million euros in actively managed pan-European equities ex-Switzerland via IPE-Quest.
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Surrey switches to specialist managers
UK - The 1.2 billion pounds Surrey County Council has appointed Schroders Investment Management and boutiques Majedie Investments and Mirabaud Investment Managers as managers for its equities portfolio as it prepares to switch to specialist management.
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Japan's pension manager DLIBJ in Europe push
DENMARK - Japanese pension fund manager DLIBJ Asset Management, which claims to be the largest Japanese asset manager, has raised its European profile with a sub-advisory brief from SEB Asset Management.
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Deutsche names Parker head of asset management
GLOBAL – Deutsche Bank has named Kevin Parker as the member of its executive committee with responsibility for asset management, replacing Tom Hughes.
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Mothercare ousts managers in revamp
UK - The pension fund of retailer Mothercare has sacked Merrill Lynch Investment Managers, Societe Generale Asset Management and Legal & General Investment Management after an actuarial valuation.
