All Alternatives articles – Page 150
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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.
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Sweden’s AP1 raises currency exposure to 20%
SWEDEN - The 139 billion-crown (15.2 billion-euro) Swedish buffer fund Första AP-fonden says it has raised the currency exposure in its strategic benchmark to 20%, from 15% previously.
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Poschadel replaced as CEO at UBS’s GAM
GLOBAL – UBS’s GAM alternative investments unit has named David Solo as its new chief executive, replacing incumbent Burkhard Poschadel.
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AP3’s stock lending revenue rises 29%
SWEDEN – Sweden’s third national buffer fund, the 142.5 billion-crown (15.5 billion-euro) AP3, saw its revenue from stock lending rise by 29% in 2003.
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Italy to raise tax on “golden pensions”
ITALY - The tax rate on top managers’ so-called “golden pensions” - which can be as high as 516 euro a day - will be increased from three to four per cent, welfare minister Roberto Maroni has said.
