Investor Strategy – Page 128
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News
EFAMA calls for action on long-term savings
EUROPE – The European Fund and Asset Management Association (EFAMA)has set out a blueprint for action on long-term savings and retail product distribution within the EU.
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Structured products regain trust with German pension funds
GERMANY – Retirement vehicles in Germany are showing increased interest in structured products, hedge funds and infrastructure as well as LDI and SRI, a recent survey by IPE Institutional Investment reveals.
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Institutional investors looking to Asia, says survey
GLOBAL - Global financial institutions are planning to expand their allocation to Asian asset classes to get better returns and improved diversification, according to new research.
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Policy must remain prerogative of a scheme’s board - ABP
NETHERLANDS - The €208bn civil service scheme ABP says it is essential that a pension fund’s board keeps its discretionary competence for decisions about policy on contributions, indexation and investment.
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DC plans should review fiduciary responsibilities - State Street
GLOBAL – Fiduciary roles in defined contribution (DC) schemes need to be "viewed in a new light" with a possible move from an advisory approach to adopting comprehensive best practices, according to findings from State Street's latest Vision report on pensions.
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Achmea smokes out a fiduciary deal with cigar scheme
NETHERLANDS - The €130m pension fund for the cigar industry has renewed its contract with pensions provider Syntrus Achmea and also signed up for fiduciary services.
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Market upturn failed to increase DAX-related pensions' funding levels
GERMANY – The funding levels of pension schemes at Germany’s top stock market-listed companies have not improved despite last year’s market rally, consultancy firm Mercer has found.
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USS to push for Dutch takeover changes in light of Océ concerns
UK/NETHERLANDS - Hermes Focus Asset Management and the £28bn (€31.3bn) Universities Superannuation Scheme (USS) have agreed to tender their shares in Océ as part of a takeover bid of the company by rival printing firm Canon.
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Dutch pensions sector recovery is still far off - DNB
NETHERLANDS - Pensions regulator De Nederlandsche Bank (DNB) has warned the Dutch pensions sector has a long way to go to a full recovery, despite no longer being seriously underfunded.
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PMI and Standard Life team up on DC pensions research
UK – The Pensions Management Institute (PMI) is joining forces with Standard Life to research alternative methods of providing adequate ways to save for retirement, starting with analysis of existing defined contribution (DC) provision.
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EFRP survey: DC pension contributions need to rise
EUROPE – Approximately one in four workers in the European Union are now members of defined contribution pension schemes. But serious work is still needed to raise contributions as the distribution of assets is very different to the location of active members, a survey by the European Federation for Retirement Provision (EFRP) has found.
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NewsPersistence more important than risk in NEST early years
UK – Encouraging people to stay in the new National Employment Savings Trust (NEST) by minimising volatility is more important than taking a lot of risk with investments at the start, according to the Personal Accounts Delivery Authority (PADA).
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UK roundup: Tower Hamlets, Powys, RBKC, Nestlé UK, Leeds University, Quarriers, DWP
UK – The London Borough of Tower Hamlets has dropped Aberdeen Asset Management as a bond manager from its pension scheme, while Powys County Council is increasing its equity allocation and the Royal Borough of Kensington & Chelsea is seeking a global equity manager.
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Dutch bakers’ scheme picks Lombard as fiduciary manager
NETHERLANDS - The €2bn pension fund for the bakery sector has appointed Swiss asset manager Lombard Odier Darier Hentsch (LODH) as its new fiduciary manager.
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ADIA returns average 8% over 30 years
GLOBAL – The investment returns of the Abu Dhabi Investment Authority (ADIA) amounted to 8% annualised in dollar terms over the 30 years to end-December 2009, and 6.5% over 20 years. This is according to the authority’s first annual report since its inception in its present form in 1976.
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NewsDutch pension assets increased to €649bn – DNB
NETHERLANDS - The combined value of pension funds’ investments increased for the fourth consecutive quarter in 2009 to €649bn, pensions supervisor De Nederlandsche Bank (DNB) has claimed.
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Underfunding prompts Mercer to question the future of Irish pensions
IRELAND – A pensions expert has called on firms to consider whether the costs and risks of DB schemes are still affordable, as a study has found 80% Irish defined benefit (DB) pension plans are underfunded, and 15% are likely to wind-up because of funding difficulties.
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News
UK pensions allocate $300m to Bermudan catastrophe risk hedge fund
UK - Eleven UK pension funds allocated a total of $340m (€373m) to a $2.6bn catastrophe reinsurance strategy run by Bermuda-based Nephila Capital in the second half of 2009.
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PPF to diversify investment strategy from equities to alternatives
UK – The Pension Protection Fund (PPF) is diversifying its investment strategy by halving its equity allocation in favour of a 20% strategic allocation to alternatives, such as private equity and infrastructure.
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Longevity market needs to show depth and maturity, say pension execs
UK – Pensions executives have raised concerns about the growth of the longevity hedging market, as some individuals are concerned about whether there is enough capacity and transparency in the market to assist the majority of pension plans.
