All Alternatives articles – Page 149
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Petroleum Fund chief explains pay structure
NORWAY – The head of the 915.3 billion-crown (110 billion-euro) Petroleum Fund has outlined how the scheme’s employees who manage investment mandates are compensated – and signalled a move to more external managers.
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IPE-QUEST: Institution tenders more than E331m
EUROPE - An institutional investor with offices in continental Europe has tendered more than 400 million dollars (331 million euros) in four equities briefs via IPE-Quest.
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Mellon buys hedge fund firm Evaluation
US – Mellon Financial Corp. has bought hedge fund firm Evaluation Associates Capital Markets for an undisclosed sum.
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Swiss MPs vote to use gold for pensions
SWITZERLAND - The lower chamber of the parliament has voted to endow the Swiss first pillar with half of the proceeds from the Swiss National Bank’s sale of 1,300 tons of gold.
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AP7 names new fund management head
SWEDEN - The five billion-euro Sjunde AP-fonden, the seventh Swedish national pension fund, has hired ABN Amro’s Fvante Linder as head of fund management.
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IPE-QUEST- Belgian fund tenders hedge funds
BELGIUM - A Belgian pension fund has tendered a 25 million-euro hedge fund mandate for up to three managers via IPE-Quest.
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IPE-QUEST: Insurer tenders Chinese equities
EUROPE – A Continental European insurance company has tendered a 200 million-dollar active Chinese equities mandate via IPE-Quest.
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Nestlé pension fund’s Gillbanks joins Saudi bank
SWITZERLAND – John Gillbanks, fund manager at the 6.2 billion Swiss franc (3.8 billion-euro) Nestlé Fonds de Pension, has left to join a Saudi Arabian bank.
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PGGM awards E1bn tactical brief to Goldman Sachs
NETHERLANDS - Goldman Sachs Asset Management has been awarded a global tactical asset allocation mandate from PGGM worth a notional one billion euros.
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Germany: BaFIN to rule on hedge fund investments
GERMANY- Financial regulator BaFIN says it will issue its rules on how pension funds and insurance companies can invest in hedge funds later this year.
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AP1 issues clarification about hedge fund plans
SWEDEN – AP1 says recent press statements about it moving into hedge funds are “misleading” and that it will not start reviewing hedge funds until 2005 for possible investment.
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Lancashire awards custody amid wider revamp
UK - The 2.4 billion-pound (3.56 billion-euro) Lancashire County Council Pension Fund says it will appoint ABN Amro Mellon as its custodian.
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ABP plans to allocate 20% to alternatives
NETHERLANDS – Stichting Pensioenfonds ABP says its new strategic asset allocation targets an allocation of 20% to alternative investments such as hedge funds and private equity, adding that avoiding short-term risk is “not on option”.
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Hedge fund market “overheated” - Greenwich
GLOBAL – Greenwich Associates has warned of possible “overheating” in the hedge fund market – driven in part by a flood of pension capital.
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CalPERS says it beats benchmark by over 2%
US – CalPERS has said it returned 29.6% in the one-year period to the end of March, taking its assets to 165.8 billion dollars and beating its benchmark by more than two percent.
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PME awards E500m bond brief to PIMCO
NETHERLANDS – The 14 billion-euro Dutch metals industry pension fund PME, or Pensioenfonds voor de Metalektro, has awarded a 500 million-euro short-term bond mandate to PIMCO.
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CalPERS denies hedge fund plan (Update)
(Updates to include CalPERS' denial) US - CalPERS has denied a magazine article saying the fund plans to raise its allocation to hedge funds.
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Flintshire taps T. Rowe Price for US equities
UK - Flintshire County Council has awarded a 42 million-pound (62.8 million-euro) US risk-controlled equity mandate on behalf of the 550 million-pound Clwyd Pension Fund to T. Rowe Price.
