Investor Strategy – Page 120
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NewsLow Bund yields tax German investors, consultants
GERMANY – Record low Bund yields have very ambivalent effects on German institutional investors, increasing assets and liabilities at the same time, consultancies are pointing out.
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Dutch schemes have 'huge potential' for efficiency through consolidation
NETHERLANDS – Pension funds in the Netherlands can significantly improve their efficiency through consolidation, a comparative study of 90 large pension funds in Holland, the US, Canada and Australia suggested.
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NewsGPS: Pension funds worry about PIGS states, pessimistic on risk
GLOBAL – Pension funds are most concerned about the financial instability potentially caused by PIGS states – Portugal, Italy, Greece and Spain – the latest Global Pensions Survey (GPS), by Tilburg University, IPE and the European Pension Academy, has found.
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Defensive strategy pushes airline scheme off course
NETHERLANDS – Returns from the €5.5bn KLM pension fund for flying staff fell short of its 2009 target after a defensive strategy failed to capitalise on recovering markets.
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NewsHewitt urges Irish DC schemes to avoid long-term bonds
IRELAND – Hewitt has urged defined contribution (DC) pension funds to invest more heavily in short-term government bonds, as it predicted the long-term downturn in interest rates would reverse.
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NewsUK roundup: Mercer on longevity, F&C on inflation hedging
UK – Pension scheme liabilities for FTSE 100 companies increased by 1.5% last year, as longevity expectations increased for the fourth year running, according to Mercer.
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NewsCanadian pension fund buys UK group Tomkins for £2.9bn
GLOBAL – The Canada Pension Plan Investment Board (CPPIB) today announced the successful acquisition of UK engineering group Tomkins for £2.89bn (€3.4bn).
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NewsInvestment managers could offer more liability 'solutions', says IMA
UK – The chief executive of the Investment Management Association (IMA) has speculated that investment managers might supply more solutions that address specific liability needs.
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NewsIlmarinen, OP Henkivakuutus take over management of Finland's Alko
FINLAND – The pension fund for Finland's Alko, the state-owned alcoholic beverage retailer, has transferred the management of its statutory and supplementary pension provision to two insurance companies.
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NewsCanadian pension fund bids to buy UK engineering group
GLOBAL – The $127.6bn (€92bn) Canada Pension Plan Investment Board (CPPIB) has made a bid for UK engineering group Tomkins.
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Synthetic inflation options 80% cheaper than caps, says Pimco's Worah
GLOBAL – Replicating optionality on inflation using the US dollar swaps market in recent years would have incurred one-fifth of the cost of buying inflation caps, according to research by PIMCO.
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NewsJeyes appoints SEI as fiduciary manager for pension funds
UK – Jeyes has appointed SEI as fiduciary manager for both of its pension funds, with combined assets of £24.6m.
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NewsLinking UK pensions to CPI could create investment 'mismatch'
UK – Linking private sector pensions to the consumer price index (CPI), rather than the retail price index (RPI), could cause a "mismatch" of investments versus liabilities, Nigel Peaple of the National Association of Pension Funds (NAPF) has cautioned.
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NewsToo many 'active' funds are passive, study finds
EUROPE – Institutional investors are paying for active management, but getting de facto benchmark huggers, according to a recent study.
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NewsBouwinvest converts direct property investment into funds
NETHERLANDS – Bouwinvest, the property manager of the €26bn pension fund for the Dutch building industry bpfBouw, has converted all of its direct property investment into property funds in a bid to increase flexibility and spread risk.
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NewsL&G tops list of credit managers for European institutions
EUROPE – Legal & General Investment Management is the leading manager of credit strategies for European institutions, according to IPE's 2010 survey of credit managers, published in the July/August issue.
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NewsGreen Paper's solvency suggestion would be 'unfair' on pension schemes
EUROPE – Companies would never have started pension schemes had they known they might be subject to solvency guidelines, according to Danny Wilding, partner at Barnett Waddingham.
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NewsInstitutional interest in healthcare sector growing, survey says
GLOBAL – Institutional investors' interest in the healthcare sector is growing apace, according to a study conducted by Kommalpha.
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Lothian moves more equities in-house to make efficiency savings
UK – The £3.2bn (€3.9bn) Lothian Pension Fund has reduced its equity managers by four as it starts to increase the in-house management of its assets as part of its revised investment strategy and to save almost £1m in external management fees.
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NewsSwiss ECOFIN co-founder's views on passive investment 'naïve'
SWITZERLAND – Herbert Brändli, head of the €2.2bn Swiss pension fund Profond, has slammed a recent article written by industry expert Martin Janssen and rejected the notion that active investment in particular lends itself to criminal activity in pension funds.
