Investor Strategy – Page 178
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FRR steps into emerging market equities
FRANCE - The €32bn Fonds de Réserve pour les Retraites (FRR) has started a temporary and limited exposure to emerging market equities before tendering a full mandate in summer.
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Experts urge funds to diversify, not protect portfolios
GLOBAL – Long-term investors such as pension funds should diversify rather than protect portfolios against short-term losses, according to a new study by ABN Amro and the London Business School.
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Germany’s NAEV ups real estate exposure
REAL ESTATE – Germany’s NAEV, a €7.75bn medical pension fund, will expand investments in real estate investment trusts (REITs) and other real estate securities over the next three years, says Hermann Aukamp, NAEV’s director of real estate.
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Dutch funds return to equities - DNB
NETHERLANDS – Dutch pension funds invest more in equities now than they did during the internet boom, according to a study by Dutch pensions regulator De Nederlandsche Bank (DNB).
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Schroders under review at Berkshire fund
UK – The £1.4bn (€2.1bn) Berkshire county pension fund is looking for a specialist Asia-Pacific (including Japan) manager for a mandate in excess of £80m.
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Dutch printing scheme contracts out equities
NETHERLANDS - The pension fund for the printing industry says it will contract out most of its equity portfolio to specialized external managers.
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German accountants’ fund to go into alternatives
GERMANY – WPV, an €850m pension fund for chartered accountants, will make inaugural investments in alternative asset classes from 2007, targeting a quota of up to 5%, according to managing director Hans-Wilhelm Korfmacher.
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European firms see pension risk – survey
GLOBAL – Nearly a quarter of continental European companies believe their pension plans represent a serious risk to the organisation, a survey by Mercer has found.
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Northamptonshire in £50m hedge fund move
UK – The £1.1bn (€1.6bn) Northamptonshire County Council pension fund is looking for hedge fund managers to invest approximately 4.5% of its portfolio.
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Nestlé launches pension advisory group
EUROPE – Nestlé, the Swiss food group, has confirmed the January 1 launch of a new pension advisory unit and a new asset management unit to serve its pension schemes worldwide.
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Dutch institutions’ raw materials appetite grows
EUROPE – Dutch institutional investors such as pension funds have a growing appetite for raw materials, so far they have invested already around €20bn (£13.5bn) in the asset class reports show.
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Newham fund diverts into infrastructure
REAL ESTATE - The London Borough of Newham pension fund is to invest £30m (€45m) in infrastructure. The investment, which follows a strategic review and is the fund’s first in infrastructure, reflects a desire to influence the beta aspects of the fund and the search for a guaranteed long-term return.
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IPE AWARDS: Build stronger portfolios, schemes told
EUROPE - Pension funds should build stronger portfolios to brace themselves for worst-case scenarios rather than just researching them, the annual IPE Awards Seminar in Paris was told today.
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Irish schemes shun alternatives - IAPF
IRELAND – Alternative assets such as hedge funds, private equity and currency are “generally unpopular” with the trustees of defined benefit pension funds in Ireland, says the Irish Association of Pension Funds.
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Unilever sets up pension hedge fund vehicle
GLOBAL – Unilever’s pension funds in 42 countries will soon be able to invest into funds of hedge funds via a vehicle created by Unilever Investments (Univest).
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Norway global fund awards seven new mandates
NORWAY – The Norwegian Government Pension Fund – Global says it has transferred capital into three new fixed income and four new equity mandates in the third quarter.
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Legal warning over “too safe” LDI
UK – Moving into a safety-first liability-driven investing strategy could leave trustees and actuaries open to negligence claims, a law firm says.
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JP Morgan wins $30bn in UK custody mandates
UK – JP Morgan Worldwide Securities Services says it has bagged more than $30bn (€23.4bn, £15.8bn) of new UK pension fund custody assets in the last six months.
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AP7 hopes to find “pure alpha” by January
SWEDEN – The SEK80bn (€8.8bn) Swedish buffer fund AP7, Sjunde AP-fonden, is closing in on its “pure alpha” plans, according executive vice president Richard Grottheim.
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PGGM closer to asset management-admin split
NETHERLANDS - The board of PGGM, the €74.4bn Dutch healthcare scheme, has officially decided to investigate the options of separating its asset management and administration from its pension fund.
