All Alternatives articles – Page 112
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Features
Global FX trading surges
Pension fund and asset manager activity in the global foreign exchange market grew 48% last year, according to consulting firm Greenwich Associates. “Average foreign exchange trading volumes among fund managers and pension funds increased almost 48% from 2004 to 2005,” the firm pointed out. “As a result of this growth, ...
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Features
Triumph of hope over experience
The worldwide demand for hedge funds and other absolute return funds will grow at an annual rate of 20% over the period 2005-8, according to the 2005 CREATE-KPMG report*. Since millions of people lost billions in the last equity bear market, this aspiration is understandable. It is also easy to ...
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Features
Siren morphs into girl next door
Promising alluring returns from investment processes that are sometimes mysterious and seldom transparent, hedge funds have been the recent sirens of the global asset management industry. Recent reports estimate assets in such vehicles have grown to $1.5trn (€1.2trn) worldwide, $325bn in Europe alone. While double counting is even more of ...
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Features
German investors' gradual awakening
German pension funds are still trailing behind many of their European counterparts in terms of investing in alternatives. “Pension funds still have a very limited exposure to private equity, with an allocation of less than 1% of total pension fund assets,” says Christian Edelmann, senior project manager, Mercer Oliver Wyman ...
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News
Germany’s Feri and MLP intensify cooperation
GERMANY – Investment consulting and wealth management firm Feri Finance has agreed to intensify its asset management and investment product tie with independent financial advisor MLP.
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News
USS mulls €8.7bn switch from equities – FT
UK – The Universities Superannuation Scheme is considering a £6bn (€8.7bn) shift out of equities into alternative assets such as private equity and infrastructure investments, according to a news report.
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News
JP Morgan confirms hedge fund outsourcing deal
UK – JP Morgan has confirmed that it has made another hedge fund outsourcing agreement.
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News
Gartmore says no change for clients in MBO
UK – UK asset manager Gartmore says there will be “no change” for clients as a result of its private equity-funded management buyout.
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News
IMA creates new role of head of tax
UK – The Investment Management Association has created a new role of head of tax to help it deal with a higher workload in the area.
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News
Contrarian Faber: pension funds should exit US
SWITZERLAND – Noted “contrarian” investment guru Marc Faber says he would advise Swiss pension funds to move assets out of the US and into Asia.
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News
Vervoer taps GSAM for €5.4bn fiduciary brief
NETHERLANDS – Dutch industry-wide transport fund Pensioenfonds Vervoer has appointed Goldman Sachs Asset Management to run a €5.4bn fiduciary mandate – resulting in a loss for incumbent F&C.
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News
Harrow tenders private equity, currency overlay
UK – The £400m (€587m) Harrow Pension Fund has tendered around £20m in private equity and £150m in currency overlay.
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News
Germany’s BPS-PT to sell pension-backed bonds
GERMANY – The Bundes-Pensions-Service für Post und Telekommunikation, a pension fund for former postal and telecoms employees, has confirmed plans to sell another €7.5bn worth of euro-denominated bonds backed by pension obligations.
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News
JP Morgan plans further hedge fund deal
UK – JP Morgan is close to doing a deal with a UK-based hedge fund manager with some £2bn (€2.9bn) in assets under management, according to a senior figure at the bank (Updates to clarify nature of deal).
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News
UK’s Kent County Council rejigs manager roster
UK - The roughly £2.3bn (€3.4bn) Kent County Council pension scheme has axed Goldman Sachs Asset Management from a roughly £350m UK and overseas equities mandate amidst a strategic asset reshuffle at the scheme.
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News
CalPERS names 11 new managers
GLOBAL – The California Public Employees' Retirement System, the $210bn (€163.8bn) public pensions giant, has selected 11 active international equity managers to manage portfolios in developed and emerging markets.
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News
SEB hit as asset management CEO quits
SWEDEN – Harry Klagsbrun, chief executive of SEB Asset Management, has quit to join private equity firm EQT Partners as a senior partner.
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News
Big UK schemes back renewable energy fund
UK – Major UK pension funds such British Airways, USS and South Yorkshire have invested in a fund specialising in renewable energy.
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News
Sal. Oppenheim buys into UK hedge funds
GERMANY – Sal. Oppenheim, a German private bank, has acquired sizeable stakes in London-based hedge fund providers Attica Alternative Investments (AAI) and Integrated Asset Management (IAM). Financial details were not disclosed.
