Asset Managers – Page 199
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News
Half of PensPlan’s lines make gains
[16:30 CET 09-02] ITALY – Thirteen of the 22 investment lines offered as pensions investments by PensPlan achieved positive returns in what officials describe as conditions which were “difficult to register positive results”.
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Complexity and costs have 'killed' DB
[15:15 CET 09-02] UK – An increase in “well-meaning” legislation has effectively ‘killed off’ defined benefit (DB) schemes through rising complexity and costs, experts have warned.
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Nuclear authority tenders for advice
[16:30 CET 06-02] UK – The Nuclear Decommissioning Authority (NDA) is seeking an actuarial and investment consultant and a legal adviser to provide services in relation to all the pension arrangements which comes under its remit.
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Merseyside admin contract awarded to Heywood
[16:25 CET 06-02] UK – The £3.7bn (€4.2bn) Merseyside Pension Fund has appointed Heywood to provide pension administration and payroll services.
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Global pension assets drop 18% in 2008
[16:30 CET 03-02] GLOBAL – Economic conditions have resulted in the largest annual decline in global pension fund assets “for many years”, as the total value of pension pots fell 18% in 2008 to $25trn (€19.6trn), according to research from International Financial Services London (IFSL).
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Greencore deficit hits €68m
[16:40 CET 02-02] IRELAND – Greencore, the Irish convenience food manufacturer, has reported the deficit in its defined benefit (DB) pension schemes more than doubled to €68m in 2008.
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Merseyside reviews £320m unconstrained bonds
[16:40 CET 02-02] UK – Merseyside pension scheme has issued a tender notice for two fixed income managers to run unconstrained sterling broad market mandates equivalent to 8% of the fund’s assets.
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SNS AM picks KAS Bank as custodian
[15:30 CET 02-02] NETHERLANDS - SNS Asset Management is outsourcing its security services to KAS Bank.
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BNP Paribas and Belgium reach Fortis agreement
[16:45 CET 30-01] BELGIUM/FRANCE – Belgian-Dutch bancassurer Fortis said today BNP Paribas, France’s largest bank, and the Belgian state had agreed on revised terms on the transactions concluded in October last year.
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Norway rules out investing in gold mining giant
[16:40 CET 30-01] NORWAY – The ministry of finance has excluded two companies from the investment universe of the NOK 2.090trn (€240bn) Government Pension Fund – Global, over concerns relating to cluster munitions and environmental damage.
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Credit crunch to boost fiduciary offering
[16:15 CET 30-01] EUROPE – UK pension fund assets run by fiduciary managers could reach £300bn by 2012, up from £2bn today, if the experience in the Netherlands is repeated, predicts Andrew Dyson, Blackrock’s head of international institutional business.
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Merseyside tenders for transition manager panel
[16:05 CET 30-01] UK – Merseyside Pension Fund has issued a tender to establish a framework list of transition managers who would aid the movement of assets between investment managers following strategy changes.
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ABP bleak on recovery prospects
[16:50 CET 29-01] NETHERLANDS – ABP, the largest Dutch pension fund which today revealed its assets had dropped by €44bn in 2008 to €173bn, has warned signs of a structural recovery on the equity markets are scarce.
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News
Hewitt replaces Watson as Powys adviser
[15:30 CET 29-01] UK/IRELAND – Powys County Council has appointed Hewitt Associates as the investment adviser for its £280m (€305m) local government pension scheme (LGPS).
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News
Fortis to 'renegotiate' sale
[16:40 CET 28-01] BELGIUM/NETHERLANDS – Belgian Dutch bancassurer Fortis has reopened its talks with the Belgian government and French baking group BNP Paribas over the sale of its assets, on the recommendation of a court-appointed panel of experts.
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CIPFA outlines changes to LGPS investments
[16:30 CET 28-01] UK – The Chartered Institute of Public Finance and Accountancy (CIPFA) has recommended investment regulations for Local Government Pension Schemes (LGPS) should be "clarified and simplified", by replacing investment limits with a series of "requirements".
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State fund to boost economy through corporate debt
[16:20 CET 28-01] FINLAND – The ministry of finance is to allow the State Pension Fund VER to purchase commercial paper in “significant and solid Finnish companies” as part of a series of proposals to help boost the Finnish financial markets.
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PGGM wins its first pension fund mandate
[14:22 CET 28-01] NETHERLANDS – PGGM, the asset management arm of giant Dutch pension fund PFZW, has today revealed it has taken over the asset management and pension operation of the €20m Aena pension fund.
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West Sussex reappoints UBS to multi-asset role
[16:00 CET 27-01] UK – West Sussex County Council has reappointed UBS Asset Management to run an active, balanced multi-asset mandate for its local government pension scheme (LGPS).
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Danish investors to award $300m debt mandate
[16:30 CET 26-01] DENMARK – A Danish financial institution is looking for a manager to look after a $300m (€232m) hard currency debt mandate in global emerging markets, using IPE Quest.
