Investor Strategy – Page 122
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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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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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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.
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Nordic roundup: ITP, AP7, AP fund boards, PensionDanmark
SWEDEN – More than 98,000 privately employed Swedes (41%) have already made their selection for their supplementary occupational pension provision, ITP, according to Collectum, the administrator.
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BP oil spill triggers call for tighter UK ESG pension rules
UK – The government is being urged to tighten regulations requiring pension schemes to disclose what environmental, social and governance (ESG) issues are taken into account in their investment policy following the impact of the Gulf of Mexico oil spill on the BP share price and its consequences for pension ...
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Switzerland's BVK stands by "aggressive" strategic asset allocation
SWITZERLAND – The Swiss Pensionskasse for civil servants in the canton of Zürich (BVK) has decided to stick with its current strategic asset allocation (SAA) despite the fact a recent asset liability study (ALM) found it aggressive.
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OECD report warns of income 'lottery' for future retirees
EUROPE – Future retirees can expect dramatic fluctuations in defined contribution (DC) scheme payouts unless they adopt investment strategies that lessen the impact of market shocks, according to the Organisation for Economic Co-operation and Development (OECD).
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Pension schemes target more illiquid strategies
GLOBAL – Property, private equity and infrastructure are the target areas for pension funds in the short to medium term as schemes look to move towards less liquid strategies, research from bfinance has revealed.
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EDHEC calls for “critical” research into inflation-linked corporate bonds
EUROPE – The EDHEC-Risk Institute, part of France’s EDHEC Business School, has underlined the “critical importance” of inflation-linked corporate bonds with the creation of a new research chair.
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Dutch social partners agree on retirement at 66
NETHERLANDS – The Dutch social partners have agreed on a flexible retirement age for second-pillar pensions and the state pension AOW by linking them to life expectancy.
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Swedish roundup: Pioneer, fee structures, Max Matthiessen, Länsförsäkringar Liv
SWEDEN – Mats Langensjö, the head of Nordic institutional business at Pioneer Investments, is leaving the company as a result of a change in focus away from the defined contribution (DC) pension sector.
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UK roundup: investment strategies, BG pension scheme, Pitmans Trustees
UK – Most final salary corporate pension schemes have continued to move away from equities and into bonds, although many still see opportunities in stock market volatility, according to Aon Consulting.
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Icelandic pension funds aid liquidity through bond purchase
ICELAND – Twenty-six Icelandic pension funds have agreed to purchase Housing Finance Fund (HFF) bonds owned by the Treasury in an attempt to help boost liquidity in the economy.
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AMIC to push corporate governance with EU paper
EUROPE – The Asset Management and Investors Council (AMIC) is working on a corporate governance paper in conjunction with the European Union.
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Aegon fails to make return as Czech funds post 2.28%
CZECH REPUBLIC – The ten pension funds of the Czech Republic maintained fixed income-heavy portfolios in the first quarter of 2010, posting average returns of 2.28% over the three-month period.
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Lack of expertise deters investment in infrastructure
GLOBAL – Low investor expertise is one of the biggest barriers to increasing institutional investment in infrastructure, highlighting the need for a credible investor body for the industry, Bfinance clams.
