All articles by Meagan Rees – Page 13
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NAPF Conference: ESPS’s Barlow on bonds
UK - The idea of pension schemes just getting into bonds and gilts seems "crazy" to Electricity Supply Pension Scheme chief executive Richard Barlow.
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NAPF Conference: Hitchen on flight to bonds
UK - A flight to bonds is short-term thinking, according to Chris Hitchen, chairman of the National Association of Pension Fund's investment council.
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State Street launches sovereign bond flow gauge
GLOBAL – State Street has launched a tool to measure the appetite of institutions for sovereign bonds.
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ABN Amro exits Czech asset management
CZECH REPUBLIC – ABN Amro has sold its Czech asset management outfit to two Prague-based firms for an undisclosed amount.
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UK: NPSS still the one to beat, says minister
UK – Lord Turner’s proposed National Pensions Savings is still the one to beat, according to pensions minister John Hutton.
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ABP’s Boogaard joins Straatman at Pearl (updated)
NETHERLANDS – ABP Investments fundamental stock selection fund manager Erna Boogaard has quit to become external management head at Pearl Group – entrepreneur Hugh Osmond’s UK-based life assurance fund investment vehicle. (updated)
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Harrods facing pensions strike
UK – Department store Harrods could be facing “damaging” strike action following its failure to undertake proper consultations on its decision to shut its final salary pension scheme, the Amicus union has warned.
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Merseyside tenders European equities
UK – The £3.8bn (€5.5bn) Merseyside Pension Fund is looking for a manager for a £100m European (ex UK) equities mandate.
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Ex-Hewitt’s Fitzpatrick joins BESTrustees
UK - Nick Fitzpatrick, the global investment-consulting chief at Hewitt Associates, has joined the BESTrustees team as associate.
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Northern wins €7.5bn Vervoer mandate (updated)
NETHERLANDS – Northern Trust has won a €7.5bn asset servicing mandate from the Dutch industry-wide transport pension fund (updated).
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Fortis buys Caribbean-based hedge fund firm
GLOBAL – Fortis Prime Fund Solutions, the fund-servicing arm of Fortis Merchant Banking, has acquired Hedge Fund Services (HFS) for an undisclosed amount.
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Belgian pension industry ‘facing destruction’
BELGIUM – Increasing regulatory requirements could destroy the smaller Belgian pension fund industry, according to a consultant at Hewitt Associates.
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Shell’s Dutch scheme returns 20.9%
NETHERLANDS – The €16.2bn Dutch Shell Pension Fund achieved a 20.9% total return for 2005, and outperformed its benchmark by 4.5%.
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UK schemes still eye international equities – MAS
UK – The roughly 55%-45% split between UK and overseas equities in many pension fund investment portfolios could be on the road to complete reversal, according to Mellon Analytical Solutions.
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AXA IM posts 25% rise in AUM
GLOBAL – AXA Investment Managers’ assets under management rose 25% to €432bn in 2005, according to the annual results.
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Public sector pensions gap “underestimated” - Watsons
UK – The British government has underestimated unfunded public sector liabilities by more than 80%, according to research by Watson Wyatt.
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DeAM's Harrison named MPC Investors’ CEO
UK – Peter Harrison, former Deutsche Asset Management global chief investment officer, has been appointed chief executive of MPC Investors and member of the board.
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Lothian taps three for currency overlay brief
UK – The £2.4bn (€3.5bn) Lothian Pension Fund has appointed three managers to run its active currency overlay mandate.
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PGGM’s Noordzij to get €500k severance deal
NETHERLANDS – Karel Noordzij, who unexpectedly quit as chairman at €71bn Dutch health care fund PGGM today, will get a severance package worth more than €500,000.
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AP7 puts hedge funds on watch
SWEDEN – Sjunde AP-fonden, the roughly SEK66bn (€7bn) Seventh Swedish Pension Fund or AP7, has put its only two fund of hedge fund mandates on a watch list due to underperformance and administrative issues.
