Investor Strategy – Page 123
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News
NAPF uncovers greater emphasis on shareholder engagement
UK – The majority of pension funds in the UK now factor in attitudes to shareholder engagement when selecting investment managers, according to a new survey.
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AIFM rules needed to protect investors from themselves
EUROPE – The EU's Alternative Investment Fund Managers (AIFM) Directive should be welcomed as a way to protect investors from exposing themselves to unnecessary risks in the pursuit of higher hedge fund returns, according to an academic study.
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UNJSPF assets reach €31bn in Q1
GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) has seen its asset value increase by 2.2% to $38.35bn (€30.9bn) in the first quarter of the year.
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UK corporates more wary of pensions risk than regulation
UK – Pension schemes now rank second only to market volatility as the chief risks facing UK employers, according to a survey by Aon Consulting.
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NewsIcelandic pensions initiate review to halt critics
ICELAND – The Icelandic Pension Funds Association (IPFA) has agreed to arrange an independent investigation into the working methods and investment policies of pension schemes in the period before the economic collapse following public criticism of their actions.
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German cooperatives fund to diversify away from fixed income
GERMANY – The €300m German pensionskasse for cooperatives (Pensionskasse der Genossenschaftsorganisation) has changed its fixed-income portfolio in the wake of the financial crisis and is considering further asset diversification.
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UK roundup: UK target date funds, Energizer, De La Rue, Teeside
UK – HSBC has reported its series of target-date retirement funds have locked in gains of more than 30% in their first year, while the Energizer Trust has appointed a provider for a range of pension services to its pension scheme.
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Fondo Cometa completes investment manager overhaul
ITALY - Fondo Cometa, Italy’s largest pension fund, has appointed nine managers for its €5.2bn portfolio, following a review of its investments.
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NewsPension schemes optimistic on economy despite Greek crisis
GLOBAL – Pension funds are increasingly optimistic about the strength of the global economy, despite concerns over the financial situation in Greece, according to a quarterly survey in association with IPE.
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NewsFunds should be more open about investment beliefs
GLOBAL – Preliminary studies suggest pension funds that are public about their investment beliefs outperform their peers, but the vast majority make no such disclosures.
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News
Provisum cancels underperforming 'black box' strategy
NETHERLANDS – Provisum, the €1bn Dutch pension fund of retailer C&A, has terminated its global tactical asset allocation (GTAA) due to poor performance and lack of transparency.
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News
Industriens gains 15.4% on stocks but uncertainty looms
DENMARK – Industriens Pension, the pension fund for the industrial sector in Denmark, benefited from a 15.4% return on Danish stocks in the first quarter of 2010, with its global equities portfolio delivering half that (7.7%) in total.
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Short-selling ban ‘red herring’ for wider euro-zone problems – ATP
EUROPE – Following widespread criticism from fund managers of Germany’s short selling ban, Danish pensions giant ATP has questioned whether it was really to blame for the subsequent currency and stock market falls.
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Deutsche Post employs niche active managers for Pensionfonds
GERMANY – Deutsche Post’s recently established Pensionsfonds has employed active managers for its small-cap equities and commodities investments, but has so far shied away from alternative investments, according to group pensions director Benedikt Köster.
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Nascent Turkish pensions sector surges 40%
TURKEY – Assets managed by Turkey’s nascent private pension system grew by more than 40% in 2009, higher than in any other OECD country.
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Highland Council to move 5% into private equity
UK - The £627m (€730.6m) Highland County Council pension fund will make its first foray into private equity investment with a 5% allocation to the alternative asset class.
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News
UWV scheme eyes Allianz GI as co-ordinating manager
NETHERLANDS - The €3.8bn pension fund of the Dutch employment and benefits agency UWV says it intends to conclude a risk and asset management contract with Allianz Global Investors (AGI). The deal falls short of a full fiduciary mandate.
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UK equity reliance blurs fiduciary case
UK – Heavy reliance on equities in the UK means fiduciary managers have been unable to stabilise pension scheme’s funding levels, SEI has claimed, which has meant that the fiduciary management industry has been less able to demonstrate its case.
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News
NPRF increases stake in AIB
IRELAND – The National Pension Reserve Fund (NPRF) has received almost two million shares in Allied Irish Banks (AIB) worth approximately €250m instead of an annual €280m cash payment.
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UK roundup: Fife, Bluefin and Redington, Unite and Capita
UK – Fife Council is seeking an actuary for its local government pension scheme, while Bluefin and Redington have joined forces to target a new investment consultancy offering to small to medium-sized pension schemes.
