Investor Strategy – Page 179
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SPF offers assistance to small schemes
THE NETHERLANDS - SPF Beheer has offered ‘collegial’ assistance to small pension funds, which want to remain independent, it announced.
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Hampshire appoints seven new managers, looks into hedge funds
UK – The £2.5bn (€3.7bn) Hampshire County Council Pension Fund has completely overhauled its management structure. In a move from multi-asset to specialist managers it has re-appointed three of the old managers and awarded mandates to seven new managers.
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Watsons advises on €1.3bn of mandates in Germany
GERMANY – Watson Wyatt’s investment consulting arm in Frankfurt says it has advised institutional clients on €1.3bn worth of allocations to asset managers since opening its doors about a year ago.
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ABP to increase hedge fund exposure
NETHERLANDS – The €200bn ABP pension fund of the Dutch civil servants will further raise its exposure to hedge funds in the future, Edwina Neal, CIO of equities at ABP, said at the Hedge 2006 conference in London. No details were disclosed but the exposure “will rise” she confirmed to ...
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Fund managers now using cash - Merrill survey
GLOBAL - Investors are putting their cash back to work, following the 25% fall in the oil price, said Merrill Lynch’s David Bowers when presenting the findings of the firm’s October fund manager survey.
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New Danish construction pension set up
DENMARK – PensionDanmark and the Danish construction industry association Dansk Byggeri have teamed up to offer a new pension product.
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Wiltshire fund tenders following review
UK – The £1bn (€1.48bn) Wiltshire County Council Pension Fund is tendering for pension investment services representing a total of up to £525m in active currency, unconstrained global equity and long-short equity.
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Newham Pension Fund ventures into active currency
UK – The £540m (€747m) London Borough of Newham Pension Fund is looking to appoint one or more managers for a new active currency portfolio.
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Pilots’ pension fund takes Aer Lingus stake
IRELAND – Airline Pilots’ Pensions, the pension scheme of Aer Lingus pilots, has bought a 2.12% stake in the Irish airline in an apparent effort to obstruct budget carrier Ryanair’s €1.4bn hostile takeover bid.
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PGGM mulls new structure to take on insurers
NETHERLANDS - Dutch health care pension fund PGGM is considering restructuring to take on insurance industry competitors, according to reports.
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Institutions become more active - NAPF
UK – Large pension funds are taking a more proactive approach to engaging with companies to maximise returns for scheme members, a new research by the National Association of Pension Funds (NAPF) reveals.
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Dutch FTK prompts investment changes – survey
NETHERLANDS – The new Financial Assessment Framework for Dutch pension funds, or FTK, has prompted changes in funds’ investment policy, a new survey has found.
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OECD sees “vicious circle” of pension bond demand
GLOBAL – The Organisation for Economic Cooperation and Development says new accounting standards may have set up a “vicious circle” of bond demand from pension funds.
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Leicestershire tenders targeted returns
UK – The £1.9bn (€2.8bn) Leicestershire County Council pension fund is looking for a targeted or absolute return manager to invest 5% of its portfolio.
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New FTK parameters to hit premiums, expert says
NETHERLANDS - The new parameters for the financial assessment framework FTK, announced last week by De Nederlandsche Bank, could lead to up to a 6% increase in pension contributions, says pensions professor Guus Boender.
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AP3 puts €215m into fundamental indexing
SWEDEN – The SEK196bn Swedish buffer fund Tredje AP-fonden, AP3, is putting an initial SEK2bn (€215m) into FTSE’s new Global Wealth Allocation fundamental index.
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Pension fund “lemmings” into hedge funds – IMF
GLOBAL – Pension funds are going into hedge funds like lemmings, according to the International Monetary Fund’s research chief Raghuram Rajan.
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British Coal Scheme appoints Watts, Read
UK – The £11.9bn (€17.6bn) British Coal Staff Superannuation Scheme has appointed Philip Read and Nick Watts as chairman and trustee director respectively.
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Ireland’s NPRF re-awards €6bn passive mandates
IRELAND – The €17.5bn National Pensions Reserve Fund has re-awarded €6bn in two passive equity mandates to the incumbent managers Bank of Ireland Asset Management/State Street Global Advisors and Barclays Global Investors.
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Schemes 'unsatisfied with funds of hedge funds'
GLOBAL - Mercer Investment Consulting says only 23% of pension schemes are satisfied with funds of hedge funds investments.
