Investor Strategy – Page 171
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News
E.ON pension scheme moves into hedge funds
[14:00 CEST 07-09] GERMANY – A €5.4bn pension fund for German energy giant E.ON has begun making its first investment in hedge funds, employing both single and fund-of-fund vehicles, market sources have told IPE.
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Switzerland paves way for Publica’s DC switch
SWITZERLAND – The Swiss government has sanctioned the inclusion of 105 employers into Publica, the CHF33bn (€20bn) pension fund for federal employees - clearing the way for the scheme’s switch from defined benefit to defined contribution next year.
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Bingo group confirms pension fund sale plans
[15:00 CEST 05-09] UK – Rank Group, the owner of Mecca Bingo and other gaming businesses, said it is contemplating putting its £700m pension scheme up for sale.
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Fonchim plans a guaranteed return fund
[11:00 CEST 05-09] ITALY – The E1.7bn Italian Fonchim scheme, the closed fund for chemical and pharmaceutical workers, is planning to launch a guaranteed return fund early next year.
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FRR reappoints State Street
[16:45 CEST 04-09] FRANCE – The €33.4bn Fonds de Réserve pour les Retraites (FRR) has concluded its search for a currency overlay manager.
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Nordic market growth increases pressure - Nordea
[16:00 CEST 04-09] NORDICS – Economists at asset manager and banking group Nordea are warning it may be "time to pull the brakes" as economic conditions in some Nordic countries are now reported to be "running at full capacity".
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TNO scheme names BlackRock as fiduciary manager
[15:30 CEST 04-09] NETHERLANDS – TNO, the €2bn pension fund of the applied scientific research institute, has appointed investment management firm BlackRock as its fiduciary manager.
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Spanish bank to float investment unit
[15:00 CEST 04-09] SPAIN - Barcelona-based savings bank La Caixa is to float 20% of its investment arm, Criteria Caixa Corp, in October.
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Fonchim taps Schroders for TFR
[16:45 CEST 03-09] ITALY – The Italian €1.7bn Fonchim scheme, the closed fund for chemical and pharmaceutical workers, has appointed Schroders to manage its Trattamente di Fine Rapporto (TFR) assets.
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Austrian funds defend performance
[16:15 CEST 03-09] AUSTRIA – Pensionskassen should have put more money into equities last year in order to get better results, consulting firm Mercer has suggested.
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2007 is a good year for Dexia so far
[16:55 CEST 31-08] BELGIUM – Belgian-French financial services group Dexia reported assets under management reached €111.1bn to June 30, up by 2.5% in the second quarter of 2007.
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'Return-seeking' assets favoured by schemes
[16:45 CEST 30-08] UK – Four out of five final salary scheme sponsors would still prefer to have a significant exposure to 'return-seeking investments' despite recent market volatility, a study by Watson Wyatt suggests.
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F&C eyes passive growth of diversified portfolios
[17:00 CEST 29-08] UK – F&C Asset Management is taking a new approach to the delivery of balanced portfolios and diversified growth funds for pension funds by launching an offering designed to be largely passive in nature.
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BVV expected to hire hedge fund consultant
[17:00 CEST 29-08] GERMANY – BVV, an €18.6bn pension fund for the German financial industry, is believed to be looking to hire a consultant to advise on future investment in hedge funds.
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ABP to sell office fund KFN
[17:00 CEST 29-08] NETHERLANDS - The €211bn civil service scheme ABP is considering selling at least part of its offices investment fund KFN, in order to further diversify its overall portfolio.
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Call for Denmark’s SPSS to be scrapped
[12:00 CEST 29-08] DENMARK - The Danish government’s decision to carry on suspending payments into the Special Pensions Savings Programme does not go far enough and the scheme should be scrapped completely, according to the Danish Insurance Association.
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Review delivers SLI higher Pensions Trust
[11:00 CEST 29-08] UK – Standard Life Investments has been awarded an expanded remit to manage fixed income investments for the Pensions Trust.
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Hackney looks to GTAA and currency
[16:30 CEST 28-08] UK – The London Borough of Hackney pension fund is considering making its first foray into global tactical asset allocation (GTAA) and currency overlay.
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Nordic pension funds predict alternatives outsourcing
[15:00 CEST 28-08] EUROPE – Nordic pension funds increasingly expect to outsource the management of alternative investments to third parties but some local investments may move more in-house, according to a study conducted by Kirstein Finansrådgivning.
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Few Dutch schemes see diversity in soft commodities
[13:00 CEST 28-08] NETHERLANDS – Only a tiny fraction of Dutch pension fund assets are actively invested in agricultural commodities, IPE has learned.
