Asset Managers – Page 192
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NewsFSP and Lægernes roll-out DC plans
[16:00 CEST 18-09] DENMARK - Pension funds FSP and Lægernes are the latest in Denmark to create new defined contribution schemes to allow more members to take on more risk themselves rather than sticking to the safety of the traditional guaranteed return schemes.
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BPK scraps additional contributions
[16:15 CEST 16-09] SWITZERLAND - The CHF7.9bn (€5.2bn) Bernische Pensionskasse (BPK) has reviewed its recovery plans and will reduce its interest rate paid to members from January, just as regular contributions will rise.
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Manager risk appetite yet to match macro optimism
[16:00 CEST 16-09] GLOBAL – Fund managers remain optimistic about the macro environment as less than a third now believe the global economy is in recession, however 72% expect to see "below trend growth and inflation" over the next 12 months, the latest monthly survey from Merrill Lynch has revealed.
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75% of fund managers expect fall in active fees
[17:45 CEST 14-09] GLOBAL - Three-quarters of fund managers expect the fees for active asset management to reduce this year, according to a survey conducted by Skandia Investment Group (SIG).
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AIFM Directive may still be strengthened, warns Rasmussen
[17:30 CEST 11-09] EUROPE - Members of the fund management community have reacted angrily to suggestions that the scope of the European Union’s Draft Directive on Alternative Investment Fund Managers (AIFM) could be widened, and its provisions strengthened rather than weakened, before it becomes law.
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Gloucestershire appoints global equity manager
[17:00 CEST 11-09] UK - Gloucestershire County Council has appointed GMO as global equity manager for its £737.5m (€843.2m) pension fund.
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Strathclyde completes strategy review
[16:55 CEST 11-09] UK – The £8.39bn (€9.6bn) Strathclyde pension fund is considering the creation of a "new opportunities" portfolio following the conclusion of the triennial review of its investment strategy and structure.
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Swiss and Danish funds launch manager searches
[13:00 CEST 11-09] IPE-QUEST - Two new manager searches have been placed on IPE-Quest. The first is for a balanced mandate for a Swiss pension fund, the second is a real estate search for a Danish fund.
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Lothian appoints three transition managers
[16:00 CEST 10-09] UK - The £2.6bn (€2.97bn) Lothian Pension Fund has appointed BNY ConvergEx, Barclays Global Investors and State Street to its transition panel for pension fund investment services.
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East Riding of Yorkshire seeks investment manager
[17:15 CEST 09-09] UK - East Riding of Yorkshire Council has launched a tender for investment management services for one-third of its pension fund portfolio, equivalent to £500m (€568m).
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Global downturn knocked 21% off London fund
[17:10 CEST 09-09] UK – The London Pensions Fund Authority (LPFA) scheme dropped £551m (€625.9m) in the year to 31 March 2009 to reach £3.02bn, as the global economic downturn caused the asset values of its investment portfolios to plummet.
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Hammersmith and Whitbread reveal strategic decisions
[15:30 CEST 04-09] UK – The London Borough of Hammersmith & Fulham has decided against adopting a currency hedge strategy for its £438.5m (€503.4m) pension fund, but will keep the option under review.
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Norway-Global excludes Israeli defence firm
[16:55 CESt 03-09] NORWAY – The Government Pension Fund – Global has divested a NOK35.8m (€4.1m) holding in the Israeli company Elbit systems following a recommendation by the Council of Ethics over "violations of international humanitarian law".
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Dutch asset managers can opt for supervision
[17:25 CEST 02-09] NETHERLANDS - The Dutch government has offered local asset managers the option of a voluntary supervisory regime. The aim is to increase their attractiveness to foreign institutional investors.
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German institutions do better to manage assets themselves – study
[17:15 CEST 02-09] GERMANY – Domestic institutional investors managing more than half their assets internally perform better than those that mainly outsource, according to a survey conducted by the consultancy Complementa and the Bavarian Centre of Finance.
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Camden to consider real estate increase
[16:55 CEST 02-09] UK – The London Borough of Camden is considering the next stage of the restructure of its pension fund investment portfolio including a potential increase in property.
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Enfield seeks manager, Thames Water hunting actuary
[17:05 CEST 01-09] UK – The London Borough of Enfield is seeking an active manager to run a global equity mandate worth £55m (€62.4m), or 12% of its pension fund, as at end-June.
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Lothian focuses on alternatives in new strategy
[17:00 CEST 01-09] UK – Lothian Pension Fund is set to increase its allocation to alternative assets from 24% to 35% in a gradual transition to its new investment strategy.
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NewsKensington, Enfield and Falkirk seek managers
[17:00 CEST 28-08] UK – Three local authorities are tendering investment manager roles for their pension funds to cover UK property, active global equities and a passive portfolio.
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Pricing pressures fail to halt interest in full buyouts
[16:55 CEST 21-08] UK – Pensions consultancy Lane, Clark & Peacock has seen an increase in the number of quotation requests for full pensions buyouts, despite warnings on the horizon of possible bulk annuity price increases.
