Markets – Page 235
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Henderson European equities director Elwes leaves
UK – Ben Elwes, director of European equities at Henderson Global Investors, has left and been replaced by Andrew Koch from HSBC Asset Management.
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Standard Life Investments names acting CEO
UK – Standard Life Investments has named its chief investment officer Keith Skeoch as acting chief executive following Sandy Crombie’s appointment as CEO of the parent company.
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ABP explains reasons for sticking to asset mix
NETHERLANDS – A top manager at the Dutch civil service pension fund ABP has expanded on the reasons why the 150 billion-euro fund has stuck with its long-term asset allocation.
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Isis to apply SRI to corporate bonds
EUROPE – Isis Asset Management says it will apply engagement methods to rate corporate bonds on socially responsible investing criteria.
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Accounting changes pressure Dutch funds
NETHERLANDS - Changing accountancy rules, to be implemented in 2005, will have a negative effect on the coverage ratio of industry-wide and corporate pension, according to new research.
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Scandinavian fund tenders equities via IPE-Quest
SCANDINAVIA – A Scandinavian pension fund has tendered up to 100 million dollars in Asia-Pacific equities and up to 50 million dollars in emerging markets equities via IPE-Quest.
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PIMCO hires Bentley from Morley Fund Management
UK – Allianz’s PIMCO has hired Peter Bentley from Morley Fund Management as UK corporate bond portfolio manager.
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Denmark’s PKA awards US small-caps to Russell
DENMARK - The €9.7bn pension administration company Pensionskassernes Administration has awarded Russell a US small-cap equities mandate worth around $140m (€110m)
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Watson Wyatt hires Deloitte’s Gavanou
FRANCE - Watson Wyatt has hired Jean-Francois Gavanou from Deloitte & Touche’s Paris office as a senior consultant.
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Abbey confirms job losses in outsourcing plan
UK – Abbey National has confirmed that jobs will go as it plans to outsource most of the in-house fund management of its 29 billion-pound (42 billion-euro) portfolio.
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Ex-SGAM equities chief Taylor joins GAM
UK – Sean Taylor, the former head of global equities at SG Asset Management, has joined UBS unit GAM as investment director.
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Fund managers’ risk appetite up – Merrill survey
GLOBAL – Fund managers’ risk appetite has grown in the last 10 months, according to the latest survey of fund managers conducted by Merrill Lynch.
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Schroders confirms Pignatelli departure
UK – Schroders has confirmed that former chief investment officer Mark Pignatelli is to leave the company by “mutual consent”.
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Denmark’s Pen-Sam awards $200m to State Street
DENMARK – The 2.4 billion-euro Danish medical industry pension fund Pen-Sam says it has awarded 200 million dollars in enhanced indexed global equities to State Street.
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Watson Wyatt says FRS17 nullifies equity rise
UK – The FRS17 pension accounting standard has cancelled out stock market rises, says consulting firm Watson Wyatt.
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Standard Life names Benelux investment chief
EUROPE - Standard Life Investments has named Pat Woods as investment director for Benelux while Jennifer Richards takes over from him in the same role in Ireland.
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Danish fund tenders large caps via IPE-Quest
DENMARK – A Danish pension fund has tendered a European large-cap equities mandate worth around 70 million euros on IPE Quest.
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Blue Sky taps PIMCO for inflation-linked mandate
NETHERLANDS – The Blue Sky Group, which manages pension assets for KLM Royal Dutch Airlines, has awarded a 218 million-euro inflation-linked mandate to Allianz’s PIMCO.
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Xerox Dutch scheme awards bonds to Delta Lloyd
NETHERALANDS - Delta Lloyd Asset Management says it has been awarded a 270 million-euro fixed income mandate by Xerox in the Netherlands.
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Goldman Sachs AM sees liability-based mandates
EUROPE – Goldman Sachs Asset Management says it sees demand for mandates that take account of liabilities.
