Investor Strategy – Page 151
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News
Philips hits a flat note on pensions
[15:00 CET 02-03] NETHERLANDS - The €13bn pension fund of electronics giant saw its investments yielding nothing in 2008 while other schemes struggled with losses of at least a fifth, but it did so largely thanks to a 17% return on fixed income holdings.
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APG set to unveil its corporate strategy
[17:15 CET 27-02] NETHERLANDS – APG Group, the wholly-owned subsidiary of the Dutch pension fund for healthcare workers ABP, is now developing the next stage of its international expansion plans following its recent merger with rival firm Cordares.
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German investor pursues corporate bonds
[17:00 CET 27-02] GERMANY – A German corporate investor is looking for an asset manager to look after up to €200m in investment grade corporate bonds, using IPE-Quest.
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VBV to raise commodity holding
[17:00 CET 25-02] AUSTRIA – VBV, the largest Austrian Pensionskasse, wants to invest more in commodities and is looking at a foray into infrastructure.
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Call on Dutch to target Western Europe
[15:30 CET 25-02] NETHERLANDS – The Dutch pensions industry should focus on EU countries in Western Europe as an export market for the Dutch pension system because their models are relatively compatible, according to an academic and pensions expert.
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Schemes granted five years recovery – but is it enough?
[16:35 CET 24-02] NETHERLANDS - Dutch minister of social affairs and labour Piet Hein Donner has confirmed he will allow pension funds with a funding shortfall – now approximately half of all Dutch funds – to have up to five years to bring their solvency ratios up to 105%, rather than the three years the Dutch Pension Ac currently prescribes.
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Hedge funds and private equity win in diversity push
[16:30 CET 24-02] UK – Pensions funds chose to further diversify their asset allocation strategies last year by investing more of their assets in direct hedge funds and direct private equity while reducing the search for real estate managers, suggests a review of Watson Wyatt’s manager selections.
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Lancashire cancels manager search
[14:30 CET 24-02] UK – Lancashire County Council has agreed to defer the appointment of an enhanced index-tracking manager for its £3.3bn (€3.8bn) pension fund, as officials say performance is "not compelling".
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Norway tenders ethical research mandate
[13:30 CET 24-02] NORWAY – The Ministry of Finance is seeking to establish a framework agreement relating to research of companies included in the investment portfolio of the Government Pension Fund – Global.
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Rail union threatens strike over pension changes
[13:15 CET 24-02] UK – Around 7,000 UK railway workers are being encouraged to vote in favour of industrial action as unions claim Network Rail is planning to introduce a “two-tier” pension scheme for workers.
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News
Merseyside awards European mandate to Unigestion
[15:50 CET 23-02] UK – Wirral Borough Council has formally confirmed the appointment of Unigestion as a European equity manager for the £3.7bn (€4.2bn) Merseyside Pension Fund.
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Local government pensions consider investing in schools
[15:45 CET 23-02] UK – UK local authority pension funds officials have been in discussions with a quasi-government body about the prospect of investing in the building of UK schools through private finance initiatives (PFIs).
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Fund managers lighten up on economy
[17:10 19-02] GLOBAL – Investors are at their most hopeful about the year ahead since the credit crunch took hold in July 2007, according to the latest fund manager survey by asset manager Merrill Lynch.
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Research supports call for flexible payout phase
[16:30 CET 19-02] EUROPE – Academic research suggests European pensions policy could give pensioners increased potential retirement income and flexibility in the long-term by allowing pension pots to be diversified beyond mandatory annuities across the life of the payout phase.
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Kingston awards JP Morgan custody contract
[16:05 CET 18-02] UK – The Royal Borough of Kingston-upon-Thames has reappointed JP Morgan as the global custodian to its £323m (€365m) local authority pension fund.
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NewsFunds review diversification and management
[17:00 CET 16-02] GLOBAL – Opinion polls suggest pension fund managers globally are questioning the use of diversification, just as funds are re-evaluating their investment management policy.
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NewsBarnet appoints actuary
[12:00 CET 16-02] UK – The London Borough of Barnet has appointed Barnett Waddingham as actuarial services provider to its £511.4m (€578.4m) local authority scheme.
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News
Trade bodies warn against hard-hitting measures
[11:00 CET 16-02] NETHERLANDS - Dutch pension funds’ lobbying organisations have warned they will oppose any recovery measures that are could hit schemes’ participants hard, as long as it is not clear whether the consequences of the credit crunch will be lasting.
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NewsTower Hamlets offers bond portfolio after restructure
[16:10 CET 13-02] UK – The London Borough of Tower Hamlets is tendering for an active bond manager for its £530m (€589.7m) pension fund, following a restructuring of its bond allocation, while Middlesbrough Borough Council is seeking actuarial advice.
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News
OECD calls for pension expansion despite $5.4trn loss
[16:55 CET 12-02] GLOBAL – Private pensions across the world lost $5.4trn between January and December 2008, up from $5trn in October 2008, driven mainly by returns on US pension funds, according to figures from the Organisation for Economic Cooperation and Development (OECD).
