All articles by Daniel Brooksbank – Page 186
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Hertford pension fund in private equity move
UK – The 2.2 billion pound (3.2 billion euro) Hertfordshire County Council Superannuation Fund has made a 55 million-pound (79.8 million-euro) move into private equity.
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Danish fund tenders credit brief via IPE-Quest
DENMARK – A consulting firm has tendered a mandate of around 125 million euros for a Euro credit manager on behalf of a Danish pension fund via IPE-Quest.
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Icelandic pension body denies solvency report
ICELAND – The head of Iceland’s national pension fund association has denied a report that some Icelandic pension funds will probably fail to meet solvency regulations.
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EU parliament committee OKs investment directive
EUROPE – The new investment services directive was passed at its first reading by the Economic and Monetary Affairs Committee of the European Parliament yesterday.
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Swiss fund tenders emerging markets on IPE-Quest
SWITZERLAND – A consulting firm has tendered a 40 million-dollar global emerging markets equity mandate on behalf of a Swiss pension fund via IPE-Quest.
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Long-term mandate competition down to last eight
GLOBAL – The competition set by a group of leading European and US pension funds to create a prototype long-term mandate has entered the short-list phase.
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Lothian pension fund seeks investment officer
UK – The 1.7 billion-pound (2.4 billion-euro) Lothian Pension Fund is seeking to recruit an investment officer.
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UK trade unions call for FRS17 review
UK – The main trade union body in the UK has called for a review of the pensions accounting standard FRS17.
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Metalektro awards emerging debt to Ashmore
NETHERLANDS – The 12 billion-euro fund for metal industry workers, Bedrijfstakpensioenfonds Metalektro, or PME, has awarded an emerging market debt mandate to Ashmore Investment Management worth 250 million dollars (230 million euros).
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Schroders sees E3.6bn in institutional outflows
UK – Schroders saw net institutional outflows of 2.5 billion pounds (3.6 billion euros) in the first half of 2003, mostly due to the shift from balanced to specialist mandates.
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BT pension scheme “trapped by actuarial method”
UK – The 48.8 billion-euro BT Pension Scheme is trapped by its own actuarial valuation method, says pensions consultant John Ralfe.
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PGGM names Prins as public affairs director
NETHERLANDS – The 48 billion-euro Dutch healthcare pension fund PGGM has hired Frans Prins as its public affairs director.
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BBH's UK investor services chief leaves
UK – David Bilbé, managing director of UK investor services at Brown Brothers Harriman, has joined Thomson Financial as commercial director, Europe - a new role.
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IPE ranks Europe’s top 1,000 pension funds
EUROPE – Pension fund assets in Europe have grown by 500 million euros in the past year, according to the Investment & Pensions Europe’s new listing of the top 1,000 European pension funds.
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AP2 plans “manager of managers” role
SWEDEN – The second Swedish national pension fund AP2 says its strategy is to make use external managers’ expertise and become a “manager of managers”.
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PGGM spends E30m to hedge against inflation
NETHERLANDS – The 48 billion-euro Dutch healthcare pension fund PGGM has spent 30 million euros to hedge its pension commitments against inflation.
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Towers sees 4% rise in European pension funding
EUROPE – Consulting firm Towers Perrin says rising equity markets have resulted in a four percent rise in the funded status of defined benefit pension plans in the euro-zone in the second quarter.
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Germany’s Ruerup panel makes “realistic” proposals
GERMANY – The Ruerup Commission has suggested raising the retirement age and cutting pension payments in what it termed a set of “realistic and practicable” proposals.
