All articles by Meagan Rees – Page 18
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Sweden’s AP7 re-tenders €4.7bn
SWEDEN - Sjunde AP-fonden, the Seventh Swedish Pension Fund or AP7, has launched a re-tendering process for three equity mandates amounting to SEK43.9bn (€4.7bn).
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KPMG names investment management head
UK – KPMG partner Tom Brown has been appointed as the firm’s UK head of investment management and funds.
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State Street may move processing to East Europe
EUROPE – State Street sees an opportunity to cut costs by moving some of its processing operations to Eastern Europe, says chief executive Ron Logue.
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Belgian pension returns double – association
BELGIUM – Average returns for Belgian pension funds over 2005 have almost doubled the sector performance figures for 2004 – largely due to good equity returns, according to a survey by the Belgian Association of Pension Institutions.
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Finnish state fund grows by 14.9% to €8.2bn
FINLAND – The Finnish State Pension Fund (VER) achieved a 14.9% investment return over 2005 and boosted its assets by €1.3bn to €8.2bn, according to the scheme’s preliminary results.
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Mercer mulls Europe launch for frozen DB service
EUROPE – Mercer Human Resource Consulting is seriously considering bringing its new service for US frozen defined benefit pension plans to Europe.
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UK’s FSA warns on pension consultant conflicts
UK – The UK’s Financial Services Authority today warned consultants, asset managers and pension fund trustees to guard against potential conflicts of interest in a highly concentrated consultant industry.
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Cerulli international chief Phillips moves on
GLOBAL – Benjamin Phillips, international managing director of research and consulting firm Cerulli Associates, has left to join Putnam Lovell NBF Securities’ financial institutions group.
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UK equity allocation at new low - CAPS
UK – UK schemes’ equity allocation has hit a new year-end low of 48.7%, according to the latest results of the CAPS Pooled Pension Fund Update released by Mellon Analytical Solutions.
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ATP axes F&C from emerging markets brief
DENMARK – F&C Asset Management has been axed from managing a DKK1.3bn (€174m) emerging market equity mandate by Danish pension fund giant ATP.
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Changing managers can destroy value - Watson
GLOBAL – The hiring and firing of investment managers by institutional investors in the UK and US can be a value-destroying activity, according to a report by global consultant Watson Wyatt.
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GAM says it’s targeting institutional market
UK – GAM, the $54bn (€44bn) hedge fund arm that’s now part of Julius Baer, is renewing its focus on the global institutional market and bringing investment consultants onboard to help build on its institutional business.
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Suomi offloads Pohjola shares
FINLAND - Suomi Mutual Life and Ilmarinen Mutual Pension Insurance have completed the sale of their stake in the Pohjola Group to OKO Bank.
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Bank of NY tops State Street, JP Morgan
UK – State Street and JP Morgan are the losers in the battle for a £12bn (€17.5bn) custody mandate awarded to the Bank of New York by Capita Financial Group following a consolidation of contracts.
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HSBC wins €30.6bn L&G mandate
UK – HSBC Securities Services has been awarded a £21bn (€30.6bn) custody mandate by Legal & General to manage its Eurobond portfolio.
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AXA IM Paris chief joins Robeco
FRANCE – AXA Investment Managers Paris chief executive, Jean-Louis Laurens, has been appointed head of Robeco France from 1 February 2006.
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Deutsche dropped from EAI top researcher list
GLOBAL – Deutsche Bank failed to make the cut in the latest Enhanced Analytics Initiative (EAI) list of top research providers on extra-financial issues (EFI) and intangibles between May 2005 and December 2005.
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Ex NAPF chief named to BESTrustees board
UK – Peter Thompson, former Mercer HRC worldwide partner and ex-National Association of Pension Funds (NAPF) chairman, has been appointed to the board of BESTrustees as director.
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Hermes wins £1bn commodities mandate from BT
UK – Hermes Pensions Management today announced a £1bn (€1.5bn) commodities investment on behalf of its owner and cornerstone client, the £34bn BT Pension Scheme (BTPS).
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Fire-fighters, civil servants plan strike against pension cuts
UK – Thousands of fire-fighters and more than a million local government workers across the UK could participate in a strike action next month due to controversial pension reforms.
