All articles by Robert Melia Watson – Page 20
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Boehringer retains Schroders as sole manager
UK – London based asset management group Schroders has been reappointed by pharmaceutical manufacturer, Boehringer Ingelheim to manage its £80m (€131m) UK pension fund.
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Barra executives launch rival consultancy
US – Five former executives at California-based investment consultancy, Barra Strategic Consulting have broken away to form a new firm Casey, Quirk & Acito, which will provide strategic advice to the investment management industry.
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Previdenza puts out tenders for €500m
ITALY – The €500m Fondo Previdenza Mario Negri, the pension fund for directors of the Italian transport, shipping and commercial industries, has put its assets out to tender for managers for a range of equity and fixed income portfolios.
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Extel Survey includes consultants for first time
EUROPE – Fund manager and analyst ranking survey, the Thomson Extel survey, is to include the investment consultancy industry for the first time in 2002.
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Sweden's AP3 beats benchmark by 0.2%
SWEDEN – The Third Swedish National Pension Fund, AP3, outperformed its strategic benchmark portfolio by 0.2% last year, despite seeing total returns on its investments drop by 4.4%, which it blames on the sharp downturn in the stock markets last year.
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AP2 to drop external managers after ALM study
SWEDEN – Sweden’s €14.4bn AP2 fund has put out a tender for a consultant actuary to undertake a new ALM study to determine its long-term investment strategy. According to AP2, some of the external managers’ contracts will be terminated as the study will lead to some of the assets being ...
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LRT drops Baring AM from £500m UK equity mandate
UK – The £3.5bn (€5.7bn) London Regional Transport Pension Fund has dropped Baring Asset Management (BAM) from a UK equity mandate originally worth £500m (€821m) in favour of AllianceBernstein and Baillie Gifford.
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Dumas to split e600m AXA mandate into six
FRANCE – The €800m caisse de retraite and prévoyance group, Groupe Dumas (Dumas), the French lorry drivers retirement savings and benefits management company, is tendering €600m to be split between six asset managers in euro-zone equities and fixed income portfolios.
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CDC IXIS launches long/short large cap fund
FRANCE – CDC IXIS Asset Management has launched a long/short alternative investment fund, a Dublin registered non-market neutral vehicle with a European large cap investment bias.
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ABF launches Luxembourg-based SRI equity fund
FRANCE/LUXEMBOURG – Paris based quantitative management company, ABF Capital Management (ABF), has launched ABF Green Planet Fund, a Luxembourg based socially responsible investments equities fund, which applies a global environmental investment approach.
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Managers optimistic but want quality, says survey
GLOBAL – Most fund managers worldwide are optimistic that the global economy will strengthen this year, though corporate earnings in the US and Japan continue to come under fire, according to the latest Merrill Lynch fund manager survey.
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Royal London launches new cash management unit
UK – Insurance and asset management group, Royal London, has launched its new bespoke cash management arm, Royal London Cash Management (RLCM)...
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Axa launches second futures hedge fund
FRANCE/IRELAND – French asset managers, Axa Investment Management (Axa IM), has launched its second hedge fund to invest in the futures markets, Axa Futures II...
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Gartmore adds to Swedish team
SWEDEN – Gartmore Investment Management, which has £36.1bn (€58.9bn) in assets under management, has expanded its Stockholm office with the appointment of Patrik Silfverling as business development manager.
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DB schemes closing because of FRS17, says NAPF
UK – FRS17, the new pension fund accounting standard, is already affecting the pensions of thousands of UK workers, according to the National Association of Pension Funds (NAPF).
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Proposals should ease access to money markets
UK – Nick Raynsford, the government minister at the department for transport, local authorities and the regions, is to present parliament with a draft statutory proposal to change the law to allow local authorities to invest in money market funds, a move that could be worth as much as £10bn ...
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Fidelity names marketing director for Netherlands
NETHERLANDS – Fidelity Investments has appointed Monique Nooy as director of marketing and client liaison to its institutional marketing office in Amsterdam.
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FX Concepts launches Euro-based overlay funds
EUROPE – New York based currency manager FX Concepts has launched two new Luxembourg listed euro-based overlay funds, through which European investment managers can hedge their currency risk on US dollar and Japanese Yen denominated investments.
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JP Morgan acquires majority share in FundsHub
EUROPE – JP Morgan has acquired a majority shareholding in FundsHub, Europe’s first outsourced fund supermarket solutions provider.
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Aon appoints senior executive benefits consultant
UK – Benefits and pensions consultancy, Aon Consulting, has appointed Eileen Imrie as senior consultant to its executive benefits practice.
