Markets – Page 272
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Postal fund parcels out £450m to venture firms
UK – Post Office Pension Trustees Limited (POPTL), the manager of the £16bn (e26bn) UK Post Office pension fund for postal group Consignia, has completed a £450m expansion of its private equity allocation by bringing on board three new managers….
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Dow Jones unveils UK Titans 50 Index
UK – Dow Jones has announced that it will launch the Dow Jones UK Titans 50 Index based on UK blue-chip companies on June 12....
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Mellon chief quits to join AXA
Christopher Condron, president and chief operating officer of Pittsburgh based Mellon Financial Corporation, has resigned to join New York based AXA Financial.....and all this week's major people moves...
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Pension funds to make up 40% of hedge fund capital
EUROPE – Corporate pension funds are planning to boost investment in hedge funds and are likely to comprise some 40% of hedge fund source capital by the end of the year, second only to private investors, according to a survey published by Goldman Sachs....
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State Street bags CHF500m passive SRI brief
SWITZERLAND – The Swiss Federal Social Security Fund (Ausgleichsfonds der Alters -und Hinterlassenenversicherung) has awarded a CHF500m (e326m) passive socially responsible investment (SRI) mandate to State Street Global Advisors (SSGA)...
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Luxembourg multi-manager fund targets institutions
LUXEMBOURG – Premium Select Lux, the Luxembourg based multi-manager outfit, has unveiled a new multi-manager fund family for institutional and high net worth individuals....
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Chiswell gets a good start to pensions' field
UK – The £34m (e56m) industry-wide Chartered Accountants’ Employees Superannuation Scheme has appointed Chiswell Associates to manage the fund...
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French manager launches first hedge fund
FRANCE – Paris based Sinopia Asset Management has launched its first alternative investment product – a long/short bond and money market hedge fund named Alternatime, aimed at institutional investors....
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Fund managers berate lack of broker focus
EUROPE – Fund managers have voiced their strongest concern yet over the role of analysts in investment banking work, with some 86% saying they felt that analysts’ involvement in corporate work diluted their institutional focus, according to this year’s Reuters Survey of European Smaller Companies....
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Domestic pension investment falls to less than 50%
EUROPE – Domestic to eurozone investment amongst European pension funds has undergone a major shift with domestic assets now representing less than 50% of European exposure for eurozone based pension funds, according to the latest European Pension Fund Managers Guide for 2001/02....
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Watson Wyatt hires specialist manager researchers
Consultant Watson Wyatt has pulled two investment managers on board as specialist manager researchers to the fund manager research team of its investment consulting practice, in a sign that pension funds are adopting increasingly complex investment structures....
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Deutsche lands DM2.2bn custody from Wackerchemie
GERMANY – Deutsche Bank Global Securities Services has picked up a DM2.2bn (e1.1bn) custody brief from the pension fund of chemical firm Wackerchemie, following the withdrawal of Credit Suisse from the German depository market....
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Scottish Widows in tie up for Scandinavian push
SCANDINAVIA – Edinburgh based Scottish Widows Investment Partnership (SWIP), is to begin marketing asset management services to retail and institutional investors in Finland, Norway and Sweden through co-operation with Stockholm based Intervalor, a marketing firm of international fund managers in the Nordic region....
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MLIM nabs Morgan Stanley institutional director
UK – Richard Boon, a former director in institutional investment management with Morgan Stanley, is joining Merrill Lynch Investment Managers (MLIM) as managing director and head of the manager’s London based US investment team in July....
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Swedish municipality awards SEK320m in mandates
SWEDEN – The council of Danderyd’s municipality within greater Stockholm has split its investment assets into two roughly equal global balanced mandates....
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San Paolo IMI CIO joins e7.5bn foundation
ITALY – Davide Tinelli, formerly chief investment officer at Milan based San Paolo Imi Institutional Asset Management, has taken up the position of chief financial officer at the e7.5bn foundation Compagnia di San Paolo....
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Northern Trust gets a £11m multi-manager brief
UK – The pension fund for leather manufacturer and exporter Scottish Tanning has awarded Northern Trust Global Investments (NTGI) Europe a £11m (e17.6) multi-manager mandate. The brief is a global one, covering UK and overseas equities and UK bonds. Scottish Tanning is advised by William M Mercer.
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Dutch Origin fund in huge investment restructure
NETHERLANDS – The e400m Utrecht based pension fund of Dutch communications group Origin - the former IT subsidiary of electronics group Phillips - has undergone a mammoth investment restructuring, almost halving its exposure to Phillips owned asset manager Schootse Poort in favour of a range of specialist mandates....
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CSAM launches new Luxembourg funds
EUROPE – Credit Suisse Asset Management (CSAM) is launching two new Luxembourg domiciled funds on May 14, a European convertible bond fund and a specialist global healthcare equity fund....
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Robeco to launch hedge fund of funds product
NETHERLANDS – Rotterdam based Robeco Alternative Investments is to launch a hedge fund multi-manager structure in September/October this year, to meet institutional and private client demand for guaranteed products linked to hedge funds...
