All Alternatives articles – Page 71
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NewsABP joins forces with Canada's OMERS on 15-year start-up initiative
GLOBAL – Dutch pension giant ABP has teamed with the Ontario Municipal Employees Retirement System (OMERS), one of Canada's largest pension funds, to launch a 15-year programme to invest in start-ups located in both countries.
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NewsSwitzerland's BLVK dumps hedge funds, hedges euro
SWITZERLAND – The CHF5bn (€3.7bn) BLVK Pensionskasse for the teachers in the Swiss capital of Bern has been "unconvinced" by the performance of hedge funds and is therefore liquidating the mandate as part of a minor revision to its strategic asset allocation (SAA).
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News
Europe falls behind, as alternative investments grow worldwide
EUROPE – Institutional investment in alternative assets is set to grow by more than a third, according to a recent survey by Russell Investment.
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Pension funds step in to help Icelandair Group
ICELAND – The Enterprise Investment Fund (FIS), the investment company established by 16 pension funds in December 2009, has made its first investment of ISK3bn (€19.1m) into Icelandair Group.
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News
Pension schemes target more illiquid strategies
GLOBAL – Property, private equity and infrastructure are the target areas for pension funds in the short to medium term as schemes look to move towards less liquid strategies, research from bfinance has revealed.
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Special ReportPortfolio Construction: Three Blind Mice
Accounting for fat tails of individual instruments is not the same as managing those tails at portfolio level. Svetlozar (Zari) Rachev and Georgi Mitov explore how advanced copulas might address the problem of fat tails, dependence models and portfolio risk
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Lack of expertise deters investment in infrastructure
GLOBAL – Low investor expertise is one of the biggest barriers to increasing institutional investment in infrastructure, highlighting the need for a credible investor body for the industry, Bfinance clams.
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AIFM rules needed to protect investors from themselves
EUROPE – The EU's Alternative Investment Fund Managers (AIFM) Directive should be welcomed as a way to protect investors from exposing themselves to unnecessary risks in the pursuit of higher hedge fund returns, according to an academic study.
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Opinion Pieces
Worse than it looks
The forthcoming loss of Jörgen Holmquist, director general, and David Wright, deputy director-general, two of the most senior and experienced officials from the European Commission’s division responsible for legislation for the banking, insurance, free movement of capital, pensions and capital reserves sectors is bad enough. But accusations that there is a shortage of personnel preparing a “crazy number of legislative initiatives” make the losses worse in this time of crisis.
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News
SAM predicts rapid growth in clean tech private equity
GLOBAL - Clean tech private equity has grown to 9% of global private equity investments and is expected to continue its rapid growth in the years to come, according to Swiss-based asset manager SAM.
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NewsLPFA could start wave of investment in UK housing
UK – The £3.5bn (€4bn) London Pension Fund Authority (LPFA) could be the first in a number of UK pension funds investing in the residential real estate sector.
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NewsFunds should be more open about investment beliefs
GLOBAL – Preliminary studies suggest pension funds that are public about their investment beliefs outperform their peers, but the vast majority make no such disclosures.
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NewsAlpInvest in talks to buy RBS private equity
EUROPE – AlpInvest Partners, the private equity manager owned by Dutch pension fund investors APG and PGGM Investments, is understood to be in talks to acquire a €400m private equity portfolio from the Royal Bank of Scotland (RBS).
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Provisum cancels underperforming 'black box' strategy
NETHERLANDS – Provisum, the €1bn Dutch pension fund of retailer C&A, has terminated its global tactical asset allocation (GTAA) due to poor performance and lack of transparency.
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Deutsche Post employs niche active managers for Pensionfonds
GERMANY – Deutsche Post’s recently established Pensionsfonds has employed active managers for its small-cap equities and commodities investments, but has so far shied away from alternative investments, according to group pensions director Benedikt Köster.
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EU ministers back AIFM after ECON revises rules (amended)
EUROPE – European Union finance ministers have backed proposals to regulate hedge funds and private equity funds just hours after the European Parliament's Economic and Monetary Affairs Committee (ECON) adopted a revised position on the Alternative Investment Fund Managers (AIFM) Directive on Monday.
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Barnier calls for 'dynamic compromise' but sticks to script ahead of AIFM vote
EUROPE – EU commissioner Michel Barnier has said he is hopeful that the Alternative Investment Fund Managers (AIFM) Directive will remain "as close as possible" to its original proposals ahead of this evening's vote by the European Parliament's Economic and Monetary Affairs Committee (ECON).
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NewsMan Group enters long-only market with GLG acquisition
UK – Hedge fund manager Man Group has acquired GLG Partners in a transaction valued at $1.6bn (€1.3bn) that will give Man Group its first access to the long-only market.
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Highland Council to move 5% into private equity
UK - The £627m (€730.6m) Highland County Council pension fund will make its first foray into private equity investment with a 5% allocation to the alternative asset class.
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Investors see opportunities in secondary private equity
GLOBAL – Most institutional investors intend to either maintain or increase their allocation to private equity in 2010, according to research by SL Capital Partners.
