Markets – Page 249
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Watson Wyatt hires Friends Ivory equities head
UK – Pensions consultancy form Watson Wyatt has hired the head of global equities from Friends Ivory & Sime to be a senior consultant in the UK.
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Gartmore hires top execs for hedge fund
UK – Asset manager Gartmore has hired senior executives from Goldman Sachs and UBS to help run a new hedge fund.
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Standard Life targets European bond dominance
UK – Standard Life Investments has hired Graeme Orr from Citigroup as fixed interest investment director as part of its aim of becoming a dominant player in European and global bonds.
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Gartmore investment chief resigns
UK – Asset manager Gartmore’s chief investment officer Peter Chambers has left following a review of “leadership resources” as it shifts its focus to hedge funds.
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CDC hires Ofivalmo head for equities
FRANCE – CDC Ixis Asset Management has appointed a former board member of Ofivalmo as its head of European and emerging equity investments.
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Danish pension fund tenders mandates on IPE-Quest
DENMARK – A Danish industry-wide pension fund has put out to tender two US equity mandates via IPE-Quest.
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UK’s Windsor tenders up to e115m equity mandate
UK – The UK borough of Windsor and Maidenhead is putting out to tender a mandate of between 50 million and 80 million pounds (72-115 million euros) to be invested in global equities for its 800 million pound (1.1 million euro) pension fund.
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Dutch pension funds buy e20bn of equities
NETHERLANDS – Dutch pension funds bought eight billion euros worth of bonds and 20 billion euros in equities in 2002, according to government statistics.
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Attica to run e72m McCain portfolio
UK – The McCain Foods pension and life assurance scheme has appointed multi-manager Attica Asset Management to manage its entire portfolio of around 50 million pounds (72.6 million euros) in assets.
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Fortis hires SocGen bond head
FRANCE – Fortis Investment Management has appointed Emeric Challier as chief investment officer of its Euro fixed income investment centre in France.
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ECB rate cut raises pressure on pension funds
EUROPE – The European Central Bank’s quarter-point rate cut today is likely to increase the pressure on pension funds, analysts said.
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HSBC AM hires Schroders’ Rodgers
UK – HSBC Asset Management has hired Chris Rodgers from Schroder Investment Management to be its head of UK equities.
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Spanish occupational pension assets up 12.3%
SPAIN – The assets under management at Spanish occupational pension schemes rose 12.31% to 21.15 billion euros at the end of 2002, according to figures released by Inverco, the Spanish association of institutional investors and pension funds.
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E193m Fondenergia seeks seven managers
ITALY – Fondenergia, the 193 million euro Italian pension fund for energy and power workers, is looking for seven managers to run the entire fund, which will be split into three mandates.
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ADAM hires equity performance risk head from MLIM
UK - Allianz Dresdner’s asset management division has hired a senior risk and performance executive from Merrill Lynch Investment Managers.
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J P Morgan Fleming AM names global equities head
UK – J P Morgan Fleming Asset Management has named Martin Porter as its new global head of equities.
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Norway’s Petroleum Fund to surpass oil revenues
NORWAY – The head of the Norwegian central bank says the return on the Petroleum Fund is likely to exceed the cash from the country’s petroleum activities in around 15 years.
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Standard Life names global equities director
UK – Standard Life Investments, fund management arm for Standard Life Assurance and Standard Life Pension Funds, has named Reg Watson as investment director in the global equities team.
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Drop in Swiss pension performance index
SWITZERLAND - The Swiss Pension Fund Performance Index, which measures the performance of 57 Swiss pension funds, fell from 98.3% to 90.5% last year.
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ING sees AM contribution to profits halved
NETHERLANDS - Assets under management at the giant Dutch financial services ING Group dropped by 12.5% in 2001to 449 euro billions with assets managed for institutional clients falling by 21.1%. The asset management share of group operating profits amounted to 283 euro millions declined from 10% to 5% in 2002. ...