Markets – Page 240
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Consultants blamed for asset-liability problems
GERMANY – The problem of pension fund assets showing little relation to liabilities is mainly due to consultants, according to a top executive at Deutsche Asset Management.
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Robeco’s van Duijn: world bull market underway
NETHERLANDS – The chief strategist of Robeco, Jacob van Duijn, says he favours emerging markets and equities – and that a global bull market has now started.
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MLIM's ex-Alpha team, Majedie, win first pension mandate
UK – Majedie Asset Management, the investment company established by five former Merrill Lynch Investment Managers employees, has won its first institutional mandate.
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Call for European asset management directive
FRANCE - The head of the French asset management association has called for a European asset management directive.
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No change in investment strategy for UK employers
UK – UK employers are not planning on changing their investment strategy and are confident that they will ride out current pensions difficulties, according to research by Aon Consulting.
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AP1 names seven managers for E656m Asia brief
SWEDEN – Sweden’s first national pension fund, Första AP-fonden or AP1, has appointed seven managers for its actively managed Asia-Pacific equity portfolio.
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Ex-PIMCO's Parry joins Schroders
UK – Mark Parry, formerly of PIMCO Europe, has joined Schroder Investment Management.
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Trustees, sponsors should work together - Hymans
UK – It’s time for trustees and companies to work together to find solutions – this is the message from actuarial consultant Hymans Robertson.
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Dexia AM eyes European expansion
EUROPE – Dexia Asset Management says it plans to expand in the Netherlands, Spain, Italy, Austria and Scandinavia.
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CSAM names Europe CEO, global bond head
GLOBAL – Credit Suisse Asset Management has made two senior appointments with Peter Roemer becoming chief executive for Europe and Dennis Schaney becoming global head of fixed income.
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Goldman Sachs AM revenues rise 20%
GLOBAL – Goldman Sachs’ asset management division saw its revenues rise by 20% in the third quarter to 481 million dollars (417.6 million euros), from 400 million dollars a year ago.
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Tyne & Wear tenders for investment consultant
UK – The two billion-pound (2.9 billion euro) Tyne and Wear pension fund has put out to tender a mandate for an investment consultant.
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Nationwide fund drops Schroders as main manager
UK – Schroder Investment Management has been dropped as the main fund manager for the 850 million-pound (1.22 billion-euro) pension fund of Nationwide Building Society as a result of poor performance.
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France’s Oddo AM restructures management
FRANCE – Oddo Asset Management in Paris has restructured, resulting in the appointment of three new heads of department.
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S&P names European investment sales head
EUROPE - Standard & Poor's has hired Thomson Financial's former European sales director Susan Lait to be its new European head of sales for investment services.
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Dutch pension funds raise foreign equity holdings
NETHERLANDS – Dutch pension funds have increased their holdings in foreign equities by 22 billion euros over the first half of 2003.
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RLAM names new equities and fixed income heads
UK – Royal London Asset Management has restructured its senior positions with the promotion of Jane Coffey to head of equities and Jonathan Platt as head of fixed income.
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Putnam names director of European equities
EUROPE – Putnam Investments has named Heather Arnold as director of European equities.
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Put 5-10% into hedge funds - ex-Watson partner
UK – Former Watson Wyatt partner and senior investment consultant Stephen Oxley says pension funds should allocate between five and 10 percent to hedge funds.
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Woods to head new SSGA hedge fund strategy group
UK - State Street Global Advisors has set up a hedge fund strategies group to be headed by former UK chief investment officer Chris Woods.
