All Alternatives articles – Page 97
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West Sussex to up private equity holdings
UK – The £1.5bn (€2.2bn) West Sussex County Council pension fund is looking for additional private equity managers to achieve its 5% target allocation.
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German Pensionskassen stay steady with bonds
GERMANY – Pensionskassen, or insurance-type German pension funds, continue to invest heavily in bonds while keeping exposure to equities well below that of their Swiss and Austrian peers, a new survey by international accountant Ernst & Young reflects.
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DNB supports ABN Amro against hedge fund
NETHERLANDS - The president of the Dutch Central Bank (DNB) Nout Wellink has voiced support for ABN Amro, after demands in a letter from the hedge fund TCI for it to break up.
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McCreevy rules out private equity regulation
EUROPE – The EU Commissioner for the internal market, Charlie McCreevy, has told the private equity industry that has ruled out additional EU regulations.
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UK pension schemes shun local property
UK – British pension funds turned their back on domestic property in 2006, with property mandates in the UK halving, the consultancy firm Watson Wyatt has found.
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DNB demands risk appraisal for private equity
NETHERLANDS – The Dutch pensions regulator, De Nederlandsche Bank (DNB), is setting up guiding principals to help develop financial institutions’ risk management of private equity and other alternative investments.
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FRR steps into emerging market equities
FRANCE - The €32bn Fonds de Réserve pour les Retraites (FRR) has started a temporary and limited exposure to emerging market equities before tendering a full mandate in summer.
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F&C takes LDI funds to market
EUROPE – F&C is now marketing its pooled liability driven investment (LDI) solution, which aims to optimise European pension funds’ exposure to return generating assets.
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Irish NTMA chooses two for IT
IRELAND – The Irish National Treasury Management Agency (NTMA) has chosen two IT providers for administration and accounting for its combined €275m property and private equity portfolio.
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Four Winds says "ethical business is good business"
EUROPE – New boutique Four Winds Capital says they are not looking at superficial SRI box-ticking but direct involvement in investment regions.
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Luxembourg introduces more freedom for alternatives
LUXEMBOURG – The Grand Duchy has passed legislation to encourage hedge funds to use its administrative services, promising no official scrutiny of sub-advisers or fund promoters of new vehicles.
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Northern Trust builds LDI team for global push
GLOBAL – US asset manager Northern Trust Global Investments (NTGI) has made a number of key appointments in London and Chicago to expand its liability driven investment (LDI) capabilities.
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Experts urge funds to diversify, not protect portfolios
GLOBAL – Long-term investors such as pension funds should diversify rather than protect portfolios against short-term losses, according to a new study by ABN Amro and the London Business School.
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Flintshire awards £305m mandates
UK – The £793m (€1.2bn) Clwyd Pension fund has awarded two unconstrained mandates worth £145m to Investec and Stone Harbour, a £120m UK equities mandate to Standard Life and a £40m GTAA mandate to Barclays Global Investors.
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Fidelity adds commodities and real estate to mixed new fund
NETHERLANDS - Fidelity International has launched a mixed investment fund, which also includes commodities and indirect property, in addition to the traditional asset classes equity, fixed income and currency, it said.
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G7 go for hedge fund vigilance rather than more regulation
GLOBAL – Finance ministers and central bankers from the G-7 industrial nations decided against any further regulation of hedge funds but said they would remain “vigilant” in scrutinising the risks funds presented.
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ATP considers external alpha managers
DENMARK - The DKK371.5bn (€49.8bn) Danish labour market pension fund, ATP is looking into adding external suppliers of alpha, possibly via direct hedge fund investments.
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FTSE launches climate change criteria for index series
UK – Global index provider FTSE have launched a new set of criteria to combat climate change for its FTSE4Good index series.
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Danish worries that derivative costs could impact return guarantees
DENMARK - The financial head of a leading Danish pensions provider has warned that the cost of hedging against liability risk is forcing it to consider ways of re-negotiating the guaranteed returns it promises.
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ABP hedges 100% of US dollar exposure on strategic basis
GLOBAL – ABP, the E209bn pension fund for Dutch civil servants, has a strategic hedge of a 100% for all of its US dollar exposure based on its ALM study (amended version of earlier story).
