Investor Strategy – Page 139
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News
AP4 and Folksam target corporate bonds and loans
[16:45 CEST 03-09] SWEDEN – Fjärde AP-fonden (AP4), the Fourth Swedish National Pension Fund, has joined forces with Swedish insurer Folksam to invest in a vehicle targeting private corporate bonds and public corporate loans.
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German institutions do better to manage assets themselves – study
[17:15 CEST 02-09] GERMANY – Domestic institutional investors managing more than half their assets internally perform better than those that mainly outsource, according to a survey conducted by the consultancy Complementa and the Bavarian Centre of Finance.
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Camden to consider real estate increase
[16:55 CEST 02-09] UK – The London Borough of Camden is considering the next stage of the restructure of its pension fund investment portfolio including a potential increase in property.
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Lothian focuses on alternatives in new strategy
[17:00 CEST 01-09] UK – Lothian Pension Fund is set to increase its allocation to alternative assets from 24% to 35% in a gradual transition to its new investment strategy.
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NewsExpert panel to review Norway Global active strategy
[16:30 CEST 01-09] NORWAY – The Ministry of Finance has appointed an international group of specialists to evaluate the active management of Norges Bank in relation to the Government Pension Fund – Global as part of an external review into the continuation of active management strategies.
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Barnet considers search for custodian
[16:50 CEST 27-08] UK – The London Borough of Barnet is preparing to tender for global custodian services for its £481m (€546m) pension scheme for the first time.
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NewsIcelandic pensions gain from market pressures
[16:30 CEST 27-08 ICELAND – Icelandic pension funds have inadvertently enjoyed benefits from the recent financial turbulence as earlier moves by the government to force the sale of overseas assets have not been enforced, the sector has instead been given access to wider investment opportunities.
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Ulster and RBS salary cap plans ignite unions
[17:15 CEST 26-08] UK – Planned changes by Ulster Bank and its parent company Royal Bank of Scotland to its defined benefit (DB) schemes, such as capping pensionable salary at 2% or the rate of inflation have met with resistance from trade unions.
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FRR enjoys recovery ahead of allocation shift
[16:30 CEST 24-08] FRANCE – Fonds de Reserves pour les Retraites (FRR), the French national pension fund, managed to claw back some of the losses it suffered on investments last year, ahead of changes to its strategic asset allocation.
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Pricing pressures fail to halt interest in full buyouts
[16:55 CEST 21-08] UK – Pensions consultancy Lane, Clark & Peacock has seen an increase in the number of quotation requests for full pensions buyouts, despite warnings on the horizon of possible bulk annuity price increases.
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Anadolu considers pioneering pensions move
TURKEY - Anadolu Hayat Emeklilik, the second-largest pension insurance firm in Turkey in terms of assets under management, could pioneer diversification of the country's pension fund range by introducing a new interest-free investment vehicle which follows the principles of 'Sukuk', IPE has learned.
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Crisis halts pension fund creation
[16:55 CEST 19-08] GERMANY – The German province of Lower Saxony has postponed plans to create a public pension fund, IPE has learnt.
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Basic diversification rules still hold true – Austrian PKs
[16:35 CEST 18-08] AUSTRIA – All three heads of the largest Austrian Pensionskassen believe the financial crisis should not fundamentally change their funds’ assumptions on asset allocation.
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DC pensions eyed as recruitment tool – Watson Wyatt
[15:30 CEST 18-08] UK – Many employers reviewing their existing defined benefit pension arrangements are looking to provide defined contribution plans which make their retirement benefits competitive with rivals, according to consulting firm Watson Wyatt.
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News
Lincolnshire seeks global equity manager after strategy review
[16:40 CEST 17-08] UK – Lincolnshire County Council has initiated a tender search for one or more managers to run a £200m (€231.9m) global equity portfolio for its local government pension scheme, following a review of its asset allocation strategy.
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P-Solve retained as Hammersmith & Fulham adviser
[16:10 CEST 17-08] UK - The London Borough of Hammersmith & Fulham Superannuation Fund has rehired P-Solve as investment consultant, following a tender process in which four other companies were invited to participate.
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Hillingdon seeks equity manager, shows Capital the door
UK – The London Borough of Hillingdon Pension Fund has launched a tender for an investment manager to replace Capital International, which ran the active overseas equities segment of its portfolio, worth in total around €455.3m, until the end of June.
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Interest hedge limits Stork scheme loss
NETHERLANDS – The €2.1bn pension fund of the industrial conglomerate Stork managed to limit its losses to 13% in 2008, largely thanks to a strategic 70% interest rate hedge on its liabilities.
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Prudential M&G, GSAM win UK absolute return bond brief (amended)
UK – Norfolk County Council Pension Fund has awarded contracts to Prudential M&G and Goldman Sachs Asset Management (GSAM) to run active absolute return bond portfolios.
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Top UK companies now spend more on past promises
UK – For the first time ever, FTSE100 companies will spend more on past employee pension promises than those to current staff, according to the annual KPMG Pensions Repayment Monitor Survey.
