All IPE articles in April 2007 (Online) – Page 6
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News
Allianz merges hedge fund units
EUROPE – German insurance giant Allianz has merged two hedge fund subsidiaries to create a new Paris-based provider following the departures of three founders of one of the units two weeks ago.
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Investment banks set up longevity group
GLOBAL – A group of leading investment banks including Goldman Sachs, Credit Suisse and UBS have formed a trade association focused on the mortality and longevity market.
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Ex-Hewitt employee jailed for theft from client
UK – A former Hewitt Associates pensions administrator has been given a 21-month prison sentence for stealing more than a quarter of a million pounds from a client.
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Lærernes chooses high-yield boutiques
DENMARK – The DKK22.9bn (€3bn) Danish Teachers' Pension and Life (Lærernes Pension) has chosen two US high-yield boutiques to replace T. Rowe Price and Capital International.
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Norwegian state fund to raise equity exposure
NORWAY – Changes to the investment rules of the Norwegian Government Pension Fund announced today will see the fund’s equity exposure rise from 40% to 60%.
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High information ratios only short-term – WM
UK – Pension funds are only able to achieve high information ratios over short periods, a new study by WM Performance Services finds.
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Parker to head consolidated HSBC DC business
UK – Banking group HSBC has consolidated its UK defined contribution pensions administration offering.
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Horeca’s new admin system still not functional
NETHERLANDS – PH&C, the €2bn pension fund for the Horeca Dutch hotel and catering sector, says its administrative arrangement with the Dutch Tax Department and Employees’ Insurance Institute (UWV) is still not functioning.
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Big future seen for US custodians – research
GLOBAL – Large US custody banks face a bright future, according to a research note from Deutsche Bank Securities.
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LDI should be scrapped – online poll
UK – Not a single respondent to an online poll thinks that liability driven investing is a useful term for pension funds – with most thinking it should be scrapped altogether.
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Danish lawyers’ fund returns just 0.1%
DENMARK - The main part of Denmark's Pension Fund for Lawyers and Economists (JØP) posted an investment return of just 0.1% in the first three months of this year, but it still managed to beat the benchmark.
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Blue Sky goes with new manager database
NETHERLANDS – Blue Sky Group, the manager of the KLM pension fund assets, has chosen a new manager database vendor for equities, fixed income and real estate.
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Norway fund to axe cluster bomb firm – report
NORWAY – The Norwegian finance ministry has declined to confirm or deny a report that the Government Pension Fund – Global may withdraw investment from German arms maker Rheinmetall.
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SEI Investments plans UK DC launch
UK – US asset management firm SEI Investments is planning to launch a defined contribution (DC) offering in the UK, IPE has learnt.
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IPE-QUEST: €895m in Dutch pension fund money
NETHERLANDS – One or more Dutch industry-wide pension funds are using IPE-Quest to tender for fixed income and real estate mandates worth $1.2bn (€895m) in total.
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Wednesday people roundup
GLOBAL - CalSTRS, AXA, Tremont, Morgan Stanley, PIMCO, Mercer, PIC, Threadneedle, Northern Trust, GES, BISYS.
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PGGM backs giant real estate merger
REAL ESTATE – Dutch healthcare pension fund PGGM has backed a proposed €11bn merger between Dutch real estate fund group Rodamco Europe and French developer Unibail.
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News
British Coal scheme goes into absolute returns
UK – The £11.9bn (€17.5bn) British Coal Staff Superannuation Scheme says is cutting its allocation to listed equities, especially those in the UK, and replacing it with a 20% exposure to absolute returns via private equity.
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SPF Beheer in fiduciary talks with three funds
NETHERLANDS – SPF Beheer says it is in talks with three pension funds to take on their asset management and pension administration.
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German blue chips ‘set for full pension funding’
GERMANY – German blue-chip firms’ pension schemes will be fully-funded by 2010 – if current trends continue - according to consultant Rauser Towers Perrin.
