All articles by Cecilia Valente – Page 14
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Port of London fund to tender DeAM-run brief
UK- Deutsche Asset Management (DeAM), which lost €13bn of institutional assets in the third quarter alone, could lose a further £39m(€56m) equity brief as the Port of London Authority Pension Fund is poised to start a portfolio review in the next 12 months.
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AP7 names central bank’s Ragnartz chief analyst
SWEDEN – The SEK5bn (€550m) seventh Swedish national pension fund, AP7, has appointed fund manager Christian Ragnartz of the Central Bank, Sveriges Riksbank, as chief analyst.
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Bayer scheme adopts “appropriate” risk structure
GERMANY – Bayer Pensionskasse VVAG, the pension scheme of pharmaceutical giant Bayer AG, says it has developed an “appropriate risk structure” to meet its long-term commitments.
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Italy’s Previndai selects 10 managers
ITALY - The €2bn pension fund for industrial managers, Fondo Pensione Previndai, has selected 10 new asset managers as it starts offering members an alternative to insurance contracts.
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Investors in hedge fund blow-up join forces
GERMANY – Investors in the Phoenix Kapitaldienst GmbH, the funds of hedge funds firm under investigation for accounting irregularities, have pulled together to protect their interests.
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IPE-QUEST: Four new searches on system
EUROPE – There are four new searches on the IPE-Quest system worth a combined $600m (€450m), from UK and Dutch pension funds.
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Swiss funds underestimate under-funding - IMF
SWITZERLAND - The International Monetary Fund has said the Swiss second pillar underestimates its level of under-funding.
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UK: adviser in €17.1m payout to MFI
UK – The MFI Furniture Group Plc, whose two defined benefit schemes have a £295m (€422.1m) deficit, has announced it has received £12m from one of its advisers who it says is partly responsible for £40m of extra liabilities.
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UK sets up independent trustee advisory panel
UK - Pensions minister Malcolm Wicks has asked the Pensions Management Institute to coordinate the setting up of an independent trustees’ panel to advise the government.
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Schroders nabs ex-BGI exec to head UK DC
UK - Schroder Investment Management has appointed Michael MacDonald-Smith as head of its UK defined contribution business in a bid to concentrate on this increasingly popular pension arrangement.
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Horeca taps T. Rowe, Acadian for equities
NETHERLANDS - The €1.8bn Pensioenfonds Horeca & Catering has selected T. Rowe Price Global Investment Services and Acadian Asset Management for its €400m global equity portfolio that is currently solely managed by F&C Netherlands B.V.
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London pension authority eyes climate change
UK – Knowing the consequences of climate change is becoming a “respectable” long-term investment issue among investors, according to the chief executive of the London Pensions Fund Authority.
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End women pensions “scandal” – UK minister
UK – Pensions minister pensions Alan Johnson has called for radical reform to end the “scandal” over single women’s pensions discrimination.
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UK's NAPF calls for schemes to join forces
UK – The National Association of Pension Funds says the government should encourage small pension funds to join forces and end fragmentation.
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Portuguese pension funds return 0.6% in February
PORTUGAL – Portuguese pension funds posted average returns of 0.6% in February, with bonds making a 0.3% loss, according to Mercer Investment Consulting.
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Italy’s Cooperlavoro seeks managers after revamp
ITALY - The €64m Cooperlavoro is looking for up to six asset managers after a switch from a single- portfolio to a three-portfolio investment strategy.
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Fortis names chief information officer
BELGIUM – Fortis has appointed Alain Deschenes to the new position of chief information officer to provide “strategy, leadership and management” to information services across the group.
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Italian institution seeks bond, equity managers
ITALY – An Italian institutional investor is looking for asset managers for a corporate bond brief and some pan-European equity mandates.
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No reason to relax for Swiss funds - report
SWITZERLAND - Swiss pension funds, with a "barely acceptable" 4.2% return in 2004, have no reason to relax, according to the Swiss pension fund association (ASIP) and Watson Wyatt.
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Italy’s Maroni warns of pension reform delay
ITALY - Welfare minister Roberto Maroni has warned that pension reform could be halted in its tracks if parliament sticks to its decision to strip pension regulator Covip of some of its supervision powers.
