All Alternatives articles – Page 129
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Features
Investment boost to innovation
APK Pensionskasse is a multi-employer pension fund with around 65,000 members. It manages 20 plans, the plan sponsors typically being industrial corporations. APK runs e1.8bn of plan assets, with about 1% of the portfolio invested in private equity. The pension fund has been investing in the asset class since 2001. ...
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Features
Law change backs pension funds
Austrian pension funds and private equity are not an obvious fit. For a start - in terms of private equity investing as a whole - Austria comes near the bottom of the European league. Just 0.051% of Austrian gross domestic product was invested in private equity in 2003, the latest ...
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Features
Case for active style allocation
Al though the existing literature seems to concur on the interest of hedge funds as valuable investment alternatives, there seem to be several shortcomings in current industry practice when it comes to fully capitalising on the advantages of including hedge funds in an investor’s asset allocation. So far, the only ...
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News
Fortis opens sales office in Frankfurt
GERMANY - Fortis has opened a sales office in Frankfurt to offer a range of fund services to asset managers specialising in both traditional and asset classes.
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News
Central banks query hedge fund diversification
GLOBAL – The Bank for International Settlements, the central banks’ central bank, says fund managers’ claims about the diversification benefits of hedge funds may be overstated.
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Citigroup exits asset management business
GLOBAL – Citigroup has confirmed it is exiting the asset management business in a $3.7bn (€3.1bn) deal with Legg Mason.
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Henderson names Germany sales head
GERMANY - Henderson Global Investors has named Uwe Diehl to head of sales for Germany and Austria.
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Asset managers want hedge fund tax debate
UK – The UK’s asset management trade body has called for a debate about the tax position of hedge funds.
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HSBC gets Italian alternatives custody OK
ITALY – HSBC says it has received approval to open a custody operation for alternative investment funds in Milan.
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Morgan Stanley asset management profit slips 16%
GLOBAL – Second-quarter pre-tax income at Morgan Stanley Investment Management fell 16% to $175m (€144m) from $209m a year before.
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Watson’s Urwin doubts hedge fund capacity
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the performance of fund of hedge funds is “in doubt” due to a lack of capacity at some of the managers.
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News
Allianz fund arm makes US disposal
GERMANY - Allianz Global Investors has sold Cadence Capital, a US institutional fund manager, to Cadence’s management and an outside private equity firm for an undisclosed sum.
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News
West Midlands scheme recruiting two managers
UK – The £5.4bn (€8.07bn) West Midlands Pension Fund is looking for two internal equity investment managers following an internal restructuring.
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News
Varma’s capital markets chief Kuusisto resigns
FINLAND - Petri Kuusisto, director of capital markets at Finnish pension insurance company Varma, is to resign and be replaced by Mikko Koivusalo.
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News
Dutch system seen as global pension leader
NETHERLANDS – “The Dutch pensions industry had come from being a virtually unknown pension power 10 years ago, to being the global pension revolution leader today,” said Keith Ambachtsheer, academic and strategic adviser to pension plans.
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News
France’s FRR calls managers to SRI meeting
FRANCE – The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, is planning to meet asset managers about socially responsible investing later this month.
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News
Inarcassa CEO Tosi joins alternatives house
ITALY - Paolo Tosi, chief executive of Inarcassa, the €3bn pension fund for self-employed architects and engineers, has left the fund to join alternatives group Kairos Partners.
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News
Railpen hires former Lane Clark consultant
UK - Railpen Investments, which manages £15bn (€22.6bn) of pension assets for the UK rail industry, has hired a former consultant from Lane Clark & Peacock as senior investment manager.
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News
MN Services changes management structure
NETHERLANDS – Dutch pension manager MN Services has named Wouter Pelser as co-head of asset management in a bid to enhance efficiency.
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News
Handbook flags directive’s impact on hedge funds
IRELAND – The European savings directive on the funds industry will have an impact on Hedge funds and hedge fund of funds, according to a handbook from Dublin- and London-based funds consultancy Carne Global Financial Services.
