All articles by Barbara Ottawa – Page 114
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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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Liabilities rise as equities and bond yields drop
EUROPE – Pension funds are facing a two-way hit as the current market correction co-incides with a fall in bond yields. But this is only a short-term problem, say pension funds.
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JPMorgan appointed custodian for Southwark fund
UK – The London Borough of Southwark has appointed JPMorgan as custodian for its £733m (€1.1bn) pension fund.
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Bulgarian pension funds shift to equities
BULGARIA – Pension insurance companies in Bulgaria are investing more in equities and corporate bonds than in government securities for the first time since the creation of the second pillar pension system in 2000.
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Ashmore reports 33% AUM rise
GLOBAL – The specialist top-down emerging markets asset manager Ashmore Group increased its assets under management by 33% in 2006, bringing the total to $26.8bn (€20.2bn) last year, when it was first listed on the London Stock Exchange.
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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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Frijns and Watson advise €221 Norwegian government fund
NORWAY – Former ABP Investments CEO Jean Frijns and former Hermes CEO Tony Watson have been chosen by Norges Bank Investment Management (NBIM) for its investment advisory council, the bank stated today in its annual report.
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USS expands SRI team
UK – The £29bn (€43bn) Universities Superannuation Scheme (USS) has made two new hires to extend its responsible investment team.
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BoNY appoints another to Brussels office
BELGIUM – The Bank of New York has appointed Axel Dewitte as head of corporate actions at its Brussels office.
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AMF and Länsförsäkringar among chosen for ITP
SWEDEN – Collectum, responsible for pooling money within Sweden’s white-collar pension scheme ITP, has chosen eight managers for its new defined contribution plan.
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IPE-QUEST: €152m in Swiss pension money up for grabs
SWITZERLAND – Three mandates amounting to $200m (€152m) are being tendered for Swiss pension fund money using IPE-QUEST (QN718, QN719, QN720).
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Nordea wins back institutional assets
NORDICS – Nordea’s asset management and life unit has reported a €3.2bn inflow in institutional assets for 2006, bringing total assets under management to €161bn.
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AP1 outperforms benchmark, AP4 misses it
SWEDEN – The buffer fund Första AP-fonden, AP1, outperformed its benchmark by 0.6 percentage points in 2006, reporting a 9.8% return before expenses for the year. Its sister fund AP4 missed its benchmark by 0.6 percentage points.
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IPE-QUEST: Dutch pension fund in hedge fund search
NETHERLANDS – A Dutch pension fund is tendering a €8m hedge fund mandate using IPE-QUEST (QN715).
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Handelsbanken reports 10.8% AUM rise
SWEDEN – The asset management arm of Handelsbanken has reported an increase in assets under management of 10.8% in 2006, bringing the total to SEK371bn (€40bn).
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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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New GOAL for more class action
UK – Tax reclamation service provider GOAL has acquired Magenta One, a specialist in securities class actions.
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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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Suffolk re-appoints State Street
UK – The £1.2bn (€1.8bn) Suffolk County Council pension fund has re-appointed State Street as its custodian.
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AP1 to review active Japan strategy
SWEDEN – Martin Currie, Nomura and Marathon have been placed under review as the largest Swedish buffer fund, the SEK188bn (€20.4bn) Första AP-fonden (AP1), reviews its Japanese equity strategy.
