Markets – Page 242
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Sweden’s AP2 names new head of equities
SWEDEN – Andra AP-fonden, the second Swedish national pension fund, has hired Nordea Investment Management’s Poul Albaek Winslöw as its new head of equities.
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Portuguese pension funds return +4.7% - Mercer
PORTUGAL – Portuguese pension funds returned a median +4.7% in the first half of 2003, according to a survey by Mercer Investment Consulting.
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AP4 not satisfied with performance vs. benchmark
SWEDEN – The fourth national pension fund Fjarde AP-fonden, or AP4, says its performance against its benchmark in the first half of the year was “unsatisfactory”.
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Pictet Asset Management hires Gartmore’s Steele
EUROPE – Pictet Asset Management has hired Ann Steele from Gartmore as senior investment manager and head of European equity portfolio construction.
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Petroleum Fund gives fixed income custody to Citibank
NORWAY – The Petroleum Fund says it has entered a global custody agreement for fixed income instruments with Citibank.
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Constellation launches global benchmarks
GLOBAL – Investment management firm Constellation Capital Management is to launch a set of global benchmarks aimed at helping pension fund trustees.
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iShares closes nine of its sector ETFs
EUROPE – iShares is to close nine of its sector-based exchange traded funds next month, saying they are “just not a priority for European buyers”.
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Nordea says hit by “major” mandate loss
SWEDEN – Nordea’s asset management division has been hit by the loss of a “major” institutional mandate.
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Danish investment fund assets rise by E605m
DENMARK – Net assets in Danish investment funds increased by 4.5 billion Danish crowns (605 million euros) in the month to the end of July, according to data from the Federation of Danish Investment Associations.
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Swedish pension funds and euro set for debate
SWEDEN - There's to be a debate in Stockholm about the possible impact of the forthcoming euro referendum will have on Swedish pension funds.
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Credit Suisse AM sees asset-allocation role
EUROPE – Institutional investors will increasingly seek asset-allocation advice from their fund managers rather than from their consultant, believes Credit Suisse Asset Management.
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NAPF to push investing in smaller companies
UK – The National Association of Pensions Funds is in talks with the Quoted Companies Alliance about how to inform its members about investing in smaller companies.
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Allianz: still no asset management profits
GERMANY – Allianz Group’s asset management business is still unprofitable, despite increasing its assets by 3.1% over the first half of this year to 1.02 trillion euros.
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Sweden’s SEB posts E287bn profit as AUM rises
SWEDEN – SEB Group has announced net profit of 2.64 billion Swedish crowns (287 million euros), and an increase in assets under management for its fund units.
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UBS GAM says its institutional margins rise
SWITZERLAND – The margins on UBS Global Asset Management’s institutional business rose to 35 basis points in the second quarter, up from 29 basis points in the first quarter of the year.
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Institutions eye fixed income – Threadneedle
UK – Threadneedle Investments says it anticipates that institutions will raise their allocations to fixed interest due to a change in the way pension fund liabilities are measured.
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Global fund managers go underweight bonds - Merrill
GLOBAL – Fund managers have dramatically changed their interest rate views over the past month, leading to a sharp move underweight in bonds, according to the latest fund manager survey by Merrill Lynch.
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SWIP hires again from Edinburgh Fund Managers
UK – Beleaguered Scottish fund manager Edinburgh Fund Managers has lost another of its UK equity team to rival Scottish Widows Investment Partnership.
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Belgian fund tenders E20m EM mandate on IPE-Quest
BELGIUM – A Belgian industry-wide pension fund has tendered a 20 million-euro actively managed emerging markets equities mandate via IPE-Quest.
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SWIP swoops for Edinburgh’s Waugh
UK – Robert Waugh, head of UK equities at Edinburgh Fund Managers, is leaving to join Scottish Widows Investment Partnership.
