Investor Strategy – Page 167
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News
PGGM disinvests on PetroChina because of human rights
[15:50 CET 18-01] NETHERLANDS - The €88bn health care pension fund PGGM is withdrawing its €37m investments in oil company PetroChina, because of the firm’s human rights violations in Sudan.
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Norway to review PFG's ethical guidelines
[16:45 CET 16-01] NORWAY – The Norwegian Government is re-evaluating the ethical guidelines currently in place for the Norwegian Pension Fund Global to ensure "they function as intended".
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Merrill Lynch aid spotlights sovereign funds
[16:00 CET 16-01] GLOBAL – Investment giant Merrill Lynch is the latest firm to have turned to sovereign wealth funds (SWFs) for financial support and has signed a deal with seven financial institutions in total to sell convertible preference shares worth $6.6bn (€5bn).
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DNB questions pensions focus on market timing
[16:00 CET 15-01] NETHERLANDS - Dutch pension fund managers are unable to predict market movements, and should therefore focus on the best strategic asset allocation and rebalancing, a DNB study suggests.
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Berkshire withdraws Asia-Pacific search
[16:00 CET 15-01] UK – The Royal County of Berkshire pension fund has pulled plans to appoint an Asia-Pacific investment manager.
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State-owned firm to close DB scheme
[17:00 CET 11-01] IRELAND – Members of pension schemes at Irish renewable energy and turf provider Bord na Móna will be asked to approve changes within the next few weeks which could see the two schemes merged and then closed to new members.
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Aberdeen emerges as Lothian winner
[16:40 CET 07-01] UK – Lloyd George Management has lost the right to manage the Lothian Pension fund’s emerging markets equity mandate, worth around £160m (€214.4m), to the benefit of Aberdeen Asset Management.
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NewsIPE to bring you IPNederland
[14:00 CET 07-01] NETHERLANDS - Investment & Pensions Europe is adding a new publication to its investment and pensions stable, known as IPNederland - a standalone Dutch-language publication covering the pensions and institutional investment arena in The Netherlands.
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News
Unions handed controls for BAA emerging landing
UK – The first of the three planned strike actions at the UK's busiest airports has been halted after airport operator BAA has said it will hold back from closing its final salary pension scheme.
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'Rebalancing' nations will prevent global recession - Principal
[11:00 CET 21-12] GLOBAL – Though a global recession is unlikely, developed nations may experience a rebalancing of financial power, a US economist has suggested.
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CalPERS pursues infrastructure and private equity
[12:30 CET 19-12] US - The California Public Employees Retirement System (CalPERS) has adopted a new asset allocation mix which will see $29bn shift out of bonds and equities to finance increased investment in private equity, infrastructure and real estate.
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Hungarian funds increase equity exposure
[13:00 CET 19-12] HUNGARY – Pension funds will start to double equity exposure in some portfolios from January in anticipation of new regulation.
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Pension funds negotiate investment rules
[16:30 CET 17-12] BULGARIA – The association of Bulgarian pension management companies (BASPC) has called on the government to lift the cap on mandatory pension schemes’ investment in equities and argued schemes should be allowed to participate in IPOs.
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PFA leaps allocation to tap infrastructure growth
[15:30 CET 17-12] DENMARK – The huge Danish PFA corporate pension fund has boosted its infrastructure investment and plans to move even further into the asset class next year, probably including direct investments in the sector for the first time.
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News
Military unions place levensloop with Aegon
[16:15 CET 14-12] NETHERLANDS - Three unions for military personnel have made arrangements to set up a ‘levensloop’, or life course, scheme with insurer Aego, instead of placing contributions with the scheme of their employer, the ministry of Defence.
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Teesside seeks Northern custody support
[13:30 CET 14-12] UK – Middlesbrough Borough Council has reappointed Northern Trust as custodian on behalf of the £2.2bn (€3bn) Teesside pension fund.
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Volkswagen revamps UK fund
[12:00 CET 14-12] UK – The £160m (€222m) UK pension fund of German car maker Volkswagen has today confirmed it is moving towards a liability driven investment (LDI) strategy.
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Dutch Unilever fund continues direct real estate
[15:45 CET 13-12] NETHERLANDS – The €4bn Dutch pension fund of Unilever, known as Progress, has strongly denied it intends to sell off its direct real estate holdings.
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Pearl to share Axial lessons with RAM
[15:30 CET 13-12] UK – Axial Investment Management looks set to share its asset liability investment skills with Resolution Asset Management for the benefit of the institutional market, once the two firms are merged by their parent Pearl Group.
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Sicily, Lombardy and Veneto mull territorial fund
[12:00 CET 12-12] ITALY – The Italian regions Lombardy, Veneto and Sicily are looking at adopting territorial pension fund arrangements similar to PensPlan for the Trentino region.
