Advisers – Page 89
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Barclays scheme puts €281m into emerging markets
UK – The Barclays UK Pension Fund has put £195m (€281m) into an emerging market debt mandate, according to BlueBay Asset Management.
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IVG to offer schemes custom real estate vehicles
REAL ESTATE - Bonn-based IVG Immobilien is to target pension funds with bespoke vehicles invested in non-listed real estate – in addition to its growing portfolio of closed-end core, opportunistic and development funds (This story originally appeared on IPERealEstate.com).
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Switzerland’s APK outlines switch to DC
SWITZERLAND – Aargauische Pensionskasse (APK), a CHF4.9bn (€3.1bn) pension fund for Swiss civil servants, plans to fully fund its liabilities by January 1 2008 following several reforms – notably a switch to defined contribution from defined benefit.
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ABN Amro Mellon wins €115bn DEPFA brief
UK – State Street and the Bank of New York have lost out to ABN Amro Mellon in competition to win a €115bn custody and securities lending mandate awarded by the DEPFA Group headquartered in Dublin.
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Munich Re’s MEAG rolls out new funds
GERMANY – MEAG, the asset management arm of German re-insurance giant Munich Re, has confirmed the rollout of four new “i-shares” - mutual funds targeted exclusively at institutional investors.
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Cambridge council tenders pension fund custody
UK – Cambridge County Council has tendered a global custody mandate for its pension fund via consulting firm Thomas Murray.
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UK’s Co-op seals €7.2bn pension fund merger
UK – The Co-operative Group has decided to shut its final salary scheme and merge its existing schemes into a single roughly £5bn (€7.2bn) career average salary fund.
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Consultant Hymans names five new partners
UK – Pension consulting firm Hymans Robertson has appointed six new partners as of the start of this month – taking the total number of partners to 31.
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Brewer InBev changes pensions admin (correct)
UK - The £295m (€420.6m) defined benefit pension fund of global brewer InBev has axed Paymaster as pensions administrator in favour of Watson Wyatt (corrected).
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Cambridge hires ex-State Streeter for hedge funds
US – Consulting firm Cambridge Associates has former State Street’s Charles Cassidy to the new role of director of operational due diligence for its hedge fund group.
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New pension risk blog set up
GLOBAL – A new online blog aimed at pension financial risk and fiduciary implications has been launched.
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Ex-Mercer chief joins BT scheme as trustee
UK – The £35bn (€50.2bn) BT Pension Scheme has appointed former Mercer Human Resource Consulting chief executive David Barford and former Prudential Group finance director Les Cullen as trustees to the fund.
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Pension Commission still getting mixed responses
UK – The ball’s in the government’s court now that the long-running saga of the Pensions Commission – it’s just released its third report – has come to an end.
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Icelandic funds still eye foreign investment
ICELAND – Icelandic pension funds still have a lot of scope for investing outside the country, says the central bank.
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Bosch outsources pension administration
GERMANY – Industrial group Robert Bosch has outsourced the administration of its German pension schemes, including its Anglo-Saxon style Pensionsfonds, to German consultant Heissmann in one of the biggest mandates of this kind ever.
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Waygood to chair UK Social Investment Forum
UK – Steve Waygood, director for investor responsibility at Insight Investment, has been appointed chairman of the UK Social Investment Forum, which promotes SRI among UK investors.
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Norgrove rejects pension-bond yield ‘bubble’
UK – David Norgrove, the chairman of the Pensions Regulator, has rejected the idea that there is a bubble in gilts caused by pension fund demand.
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Icelandic schemes not fazed by market 'blip'
ICELAND – Pension funds in Iceland have shrugged off the turbulence affecting domestic financial markets, with one industry commentator calling the situation a “blip on the screen”.
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ABN Amro AM considers “bolt-on” acquisitions
GLOBAL – ABN Amro says it will consider “bolt-on” asset management acquisitions.
