All articles by Susanna Rust – Page 6
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News
UK chancellor promises £6bn to pension victims
UK – Gordon Brown will quadruple the amount of money available to members of bankrupt occupational pension schemes.
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Aviva joins forces with Akbank and Aksigorta
TURKEY – Aviva, the UK’s largest insurer, is to form a joint venture in Turkey with Aksigorta, one of the country’s largest insurers.
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IPE-QUEST: Dutch funds seek Canada and Asia managers
NETHERLANDS - A Dutch corporate pension fund is using IPE-QUEST to look for a large cap Canadian equities manager for a $125m (€94m) mandate (QN735).
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Commerzbank to earn €300m from Jupiter sale
GERMANY - Commerzbank is set to recoup €300m from the sale of UK-based asset management subsidiary, Jupiter to management.
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Belgian medics earn over 50% on property
BELGIUM – Amonis, the €990m pension fund for Belgian medical professionals, appreciated by more than 9.6% net of fees last year.
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NIBC pulls flotation in rough markets
NETHERLANDS – The partial flotation of NIBC, the merchant bank owned by JC Flowers and a consortium of investors, has been postponed just two weeks after a proposed increase in stock to be sold.
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Mercer to lose head of investment consulting to Deloitte
UK - Andy Green, one of the UK’s most senior investment consultants, is quitting Mercer for Deloitte.
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News
CAMRA picks up bespoke business from PSolve
UK – Asset manager database provider, CAMRA Data Services, has signed up PSolve as the first user of its bespoke service for investment consultancies.
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News
NAPF polls industry on Myners reform
UK – The National Association of Pension Funds (NAPF) is asking trustees, members and advisers to supply their views on the Myners principles.
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Credit Agricole Asset Management sees 11.6% rise in funds under management
FRANCE - Credit Agricole Asset Management Group delivered healthy growth for 2006, increasing assets under management from €479.3bn at end 2005 to €534.8bn at end 2006.
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Irish ombudsman calls for scheme modernisation
IRELAND – The Pensions Ombudsman has been reported as saying that most Irish schemes are designed to meet the needs of employers rather than scheme members.
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£23bn post office scheme seeks inhouse expertise
UK - The £23bn (€33.8bn) Royal Mail pension scheme is in the hunt for a new inhouse investment manager, following the departure of Malcolm Macdonald.
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FRR issues five tracking mandates for €5.8bn
FRANCE – The €32bn Fonds de réserves pour les retraites, France’s national pension surplus fund, has issued a handful of passive mandates for Eurozone and North American equities.
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Schroders’ profits up despite £8bn client defections
UK - Dedicated asset manager, Schroders, increased profits before tax last year to £290m (€428m) up from £250.7m in 2005, a 16% rise.
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Environment Agency to lose investment manager
UK – Nick Greenwood, investment manager at the £1.5bn (€2.2bn) Environment Agency pension fund, is leaving to run the Berkshire Fund.
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Finnish State Fund ups alternative exposure
FINLAND - VER, the €10.3bn Finnish State Pension Fund, made new investments in eight real estate funds and five private equity funds in 2006.
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Unilever proposes career average for UK
UK – Household goods giant, Unilever, is planning to introduce career-average pensions later this year, subject to approval from trustees of its £5bn (€7.43bn) British scheme.
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Features
Sticking to one's principles
Peter Damgaard Jensen of PKA in Denmark talks about his mentors in pensions and investments
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News
Italian politics will not affect TFR - Pighini
ITALY - Italy’s power struggle in government will not affect the redistribution of €5-6bn of severance pay to banks and insurers next year, according to one leading pension fund.
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Teachers seek emerging markets expertise
DENMARK – Laerernes, the DKK24bn (€3.8bn) industrywide fund for teachers, is looking for a hard currency emerging market debt manager.
