Investor Strategy – Page 164
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News
Proposed ASB rules to widen pensions valuations
[12:20 CEST 15-04] UK – Proposed changes by the Accounting Standards Board to pension fund accounting create a discrepancy between the economic valuation of FTSE 100 schemes and those applied under accounting rules worth over £145bn (€181bn), according to figures presented by pensions consultancy firm Redington Partners.
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NewsUnion federation says yes to pensions deal
[16:10 CEST 14-04] AUSTRIA – The 1,200 employees of the union federation ÖGB agreed to plans by the management to start funding pension liabilities.
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News
Oxford reviews TAA after poor performance
[16:00 CEST 09-04] UK – Oxfordshire County Council pension fund is to review its Tactical Asset Allocation(TAA) strategy, managed by UBS, and has asked the fund manager about the possibility of returning £575,000 (€720,820) in performance fees after performance "deteriorated".
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News
Europe champions governance, risk and LDI – Mercer
[16:30 CEST 07-04] EUROPE – Better governance and risk management, along with increased allocations to alternatives and liability-driven investment strategies are the main agenda points in 2008 for European pension funds, consultancy firm Mercer has found.
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Norway pension fund allocates 5% to real estate
[16:00 CEST 07-04] NORWAY – Europe’s largest pension fund, the NOK2136bn (€267bn) Norwegian Government Pension Fund – Global, has said it will switch 5% of its asset to real estate, while moving more into emerging markets.
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Unilever to close its Danish DB fund
[16:00 CEST 04-04] DENMARK - Unilever’s Danish subsidiary is closing its in-house pension fund operation next month, and the entire scheme is being outsourced to financial services group Nordea, according to the fund’s manager.
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News
SBZ seeks real estate and SRI managers
[12:15 CEST 04-04] NETHERLANDS – SBZ, the €2.57bn industry-wide pension fund for care insurers, is looking to make changes to its environmental, social and governance structure and its real estate portfolio as part of its earlier swap to fiduciary management.
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News
First cross-border scheme set for launch
[16:45 CEST 03-04] GLOBAL – The global cross-border pension scheme will begin operating from September 1 this year, to give employees of a US multi-national access to pension benefits through a single plan arrangement.
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News
Beenen to promote alternative strategies at Mercer
[15:15 CEST 03-04] NETHERLANDS – Jelle Beenen, who until this week was head of alternative investments at PGGM, is planning to help smaller pension funds devise innovative strategies in his new role at Mercer.
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News
Newton picks up Northants overseas win
[15:45 CEST 02-04] UK - Northamptonshire County Council has signed Newton Investment Management to handle the £200m overseas equity mandate on behalf of the £1.1bn (€1.6bn) pension fund.
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News
Pension funds shun UK equity
[16:50 CET 31-03] UK – Pension funds have never invested less in UK equities, according to BNY Mellon Asset Servicing, as its own an asset allocation study has found weightings in the asset class slumped to 28.7% in 2007.
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News
Average salary schemes could lose out to DC
[16:20 CET 31-03] NETHERLANDS - Pension provider Centraal Beheer Achmea and consultancy Mercer claim average salary arrangements could lose their attraction to employers after the demise of final salary schemes and pave the way for the growth of defined contribution schemes.
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News
AP4 joins bid for Absolut vodka
[16:50 CET SWEDEN - Fjärde AP-fonden (AP4) one of the five Swedish pension system's buffer funds has confirmed it is participating in an offer for V&S Vin&Sprit AB, the Swedish state-owned wine and spirit firm which produces drinks brands including Absolut vodka.
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News
PGGM allocates €200m to microfinance
[13:30 CET 28-03] NETHERLANDS - PGGM, asset manager to the €88bn healthcare and social welfare scheme Pensioenfonds Zorg en Welzijn (PZW), has entered the microfinance market by allocating no less than €200m to this asset class for the next two to three years.
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NewsInvestment in Irish equities fell 2.8%
[15:15 CET 27-03] IRELAND – Trustees have been "actively reducing investment risk" during 2007, with 28.5% of assets under passive management and a 2.8% reduction in exposure to Irish equities, the Irish Association of Pension Funds (IAPF) has revealed.
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NewsInflation will remain "high" – Trichet
[15:50 CET 26-03] EUROPE – Jean-Claude Trichet, the president of the European Central Bank, today said the period of relatively high inflation rates will be longer than previously expected.
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News
Hackney adopts GTAA and currency overlay
[16:40 CET 25-08] UK – The London Borough of Hackney pension fund is seeking a new actuarial services provider, but has appointed managers for its Global Tactical Asset Allocation (GTAA) and currency overlay mandates.
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News
2007 saw quants move one-eighth of assets – Aite
[16:15 CET 25-08] GLOBAL – Approximately US$6.65trn (€4.27trn) or one-eighth of all global assets under management (AuM) were driven by quantitative analysis in 2007, and that figure will grow to 14% or $10.86trn by 2010, financial services research house Aite Group has predicted.
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News
ERAFP aims to diversify with new consultant
[15:00 CET 20-03] FRANCE – The €4.8bn French public service supplementary pension scheme ERAFP has said it has selected Mercer as its new investment consultant for an extended diversification of its investments.
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News
Dresdner splits for 'consolidation'
[15:30 CET 17-03] GERMANY – German insurer Allianz confirmed it will split its subsidiary Dresdner Bank into two separate units, carving out investment bank Dresdner Kleinwort as a distinct legal entity, with immediate effect.
