Investor Strategy – Page 122
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News
Philips scheme reclaims millions from property fraud
NETHERLANDS - The €14.3bn Philips pension fund will receive millions of euros in settlements with suspects in the large-scale property fraud.
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Austria’s APK to up absolute returns, Valida underweights credit
AUSTRIA – Austria’s APK Pensionskasse plans to increase absolute return investments, while its competitor Valida Pension is to reduce its allocation to credit.
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Alternatives regain favour: EIAMS 2010
EUROPE - Hedge funds and real estate are regaining favour according to IPE’s extensive new survey on the investment activity of pension funds in Europe, which was carried out in partnership with Invesco.
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Netherlands sees first multi-opf
NETHERLANDS - The first so-called ‘multi-opf’ will soon become a reality in the Netherlands through a merger between the two corporate schemes of SCA.
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UK PPF's diversification plan continues with GTAA hires
UK – The £4bn (€4.9bn) Pension Protection Fund (PPF) has appointed six Global Tactical Asset Allocation (GTAA) managers in line with its revised statement of investment principles (SIP) published earlier this year.
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UK roundup: Brent, Hertfordshire
UK – Brent County Council has appointed a consultant to examine the possibility of recovering withholding tax on its investments, while Hertfordhsire County Council has increased its pension fund's equity allocation.
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Nordic institutional investors abandoning long-term SAA, says Union
EUROPE – German asset manager Union Invest is seeing increasing demand in its absolute return and capital preservation strategies, particularly among Anglo-Saxon and Scandinavian institutional investors.
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NewsStrathclyde pension scheme to adopt top-down strategy
UK – One of the UK's largest local authority pension schemes is to implement a new portfolio rebalancing strategy designed to better manage its fund.
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NewsABP joins forces with Canada's OMERS on 15-year start-up initiative
GLOBAL – Dutch pension giant ABP has teamed with the Ontario Municipal Employees Retirement System (OMERS), one of Canada's largest pension funds, to launch a 15-year programme to invest in start-ups located in both countries.
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Germany's BVK to boost investment in emerging market debt
GERMANY – The Munich-based Bayerische Versorgungskammer (BVK), the largest pension fund in Germany, is set to increase its emerging market debt (EMD) exposure over the coming months.
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NewsSwedish roundup: Svenskt Näringsliv, SPP Livförsäkring, Pensionsmyndigheten
SWEDEN – Svenskt Näringsliv, a Swedish employer confederation, is suing SPP Livförsäkring, a life and pensions provider, over its failure to index insurance contracts and pay a pension supplement to the confederation's members.
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Payden & Rygel Global launches Sterling Reserve fund
UK – A fund has been launched to provide pension fund investors with a high-quality investment strategy intended to deliver better yields than those available from bank deposits and money market funds.
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Austria's VBV increases exposure to domestic corporate bonds
AUSTRIA – VBV, the largest Austrian Pensionskasse, underperformed the market last year, but made good returns, increasing its exposure to Austrian corporate bonds.
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NewsDutch pension fund assets return to pre-crisis level: DNB
NETHERLANDS – The assets of Dutch pension funds are back at pre-crisis level after the schemes gained a €32bn profit from rising markets and currency valuations during the first quarter of 2010, according to pensions regulator De Nederlandsche Bank (DNB).
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NewsIMQubator invests €25m in Asia hedge fund for APG
GLOBAL – IMQubator, the innovation project backed by asset manager APG, has made a €25m seeding commitment in a new macroeconomic Asia hedge fund.
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News
ABN AMRO scheme recovers from funding and reserves shortfalls
NETHERLANDS – The €9.3bn pension fund of ABN AMRO recovered from a shortfall of its funding and financial reserves due to a 5.8% return on investments, as well as recovering equity markets and rising interest rates last year.
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Pension funds step in to help Icelandair Group
ICELAND – The Enterprise Investment Fund (FIS), the investment company established by 16 pension funds in December 2009, has made its first investment of ISK3bn (€19.1m) into Icelandair Group.
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Extensive hedge bolsters cover ratio for ING pension scheme
NETHERLANDS – The €12.3bn pension fund of bancassurer ING is on track to keep its financial reserves above the required level due to an extensive hedge of both interest risk and equity risk.
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News
DC is preferred vehicle for UK auto-enrolment, says PwC
UK – Most employers expect to use defined contribution (DC) schemes to comply with auto-enrolment legislation from 2012, as more than one in 10 intend to reduce or close their existing defined benefit (DB) schemes, a study from PricewaterhouseCoopers (PwC) has claimed.
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Avon tenders £136m global equity portfolio
UK – Bath and North East Somerset Council are seeking a global equity manager to run a specialist portfolio for its £2.5bn (€3bn) Avon Pension Fund.
