Investor Strategy – Page 181
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Gissings helps KLM UK scheme opt for Blue Sky
UK – The KLM (UK) Pension and Life Assurance scheme has appointed Blue Sky Group as new fund manager for its £34.8m scheme following an investment review by adviser Gissings.
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Bedford tenders £100m in passive UK equities
UK - The £773m (€1.1bn) Bedfordshire Pension Fund is seeking a passive (index-tracking) investment manager for £100m in UK equities.
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Norway state fund rejects real estate before 2007
REAL ESTATE - The Norwegian finance ministry says moving into real estate “just isn’t a priority” for the Government Pension Fund, despite reports of an imminent 8-10% allocation.
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More details on €4bn Luxemburg pension tender
LUXEMBURG – The new fund set up to hold Luxembourg’s excess pension revenues has issued a tender looking for fund managers to administer its €4bn in assets.
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Lewisham considers alternative assets
UK – The £505m (€752m) London Borough of Lewisham pension fund is the next in line planning to go into alternative investments.
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Cambridge tenders €44m currency brief
UK - Cambridgeshire County Council has tendered a £30m (€44.7m) currency mandate.
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Commission set up to review UK rail pensions
UK - An independent Railway Pensions Commission has been set up by the rail unions and employers to review the current railways pensions scheme, chaired by former Pensions Commission member Jeannie Drake.
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Horeca taps SPF for €40m private equity brief
NETHERLANDS – Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering scheme, has awarded SPF Beheer with a €40m private equity mandate, as part of its 5% weighting target in the asset class.
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TIAA-CREF puts $100m into microfinance
GLOBAL – US educational retirement savings group TIAA-CREF has earmarked $100m (€78.8m) to invest in so-called microfinance initiatives.
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Dutch funds’ duration lengthens, DNB says
NETHERLANDS – Pension funds with an invested capital of between €100m and €10bn have seen the average duration of their portfolio go up by one and a half years, the Dutch central bank (DNB) said today.
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ATP planning US real estate investment
DENMARK – The DKK371.5bn (€50bn) Danish supplementary pension scheme ATP is looking at real estate investments in the US.
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Norwegian Global fund reviewing strategy
NORWAY – The NOK1.5trn (€180bn) Norwegian Government Pension Fund is reviewing its “low return volatility” investment strategy, says the central bank.
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German institutions eye structured, private equity
GERMANY – Pension funds and insurers are planning more investment in alternatives this year and next, but will only award mandates for structured products and private equity, according to a new survey by German consultant Heissmann.
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Vervoer to utilise Mcube's AlphaEngine for fiduciary oversight
NETHERLANDS – The Dutch industry wide transport fund Pensioenfonds Vervoer has hired American investment technology firm Mcube to help it “measure, manage and monitor” its fiduciary investments, the fund announced today.
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Pension funds pick up more of Exista from Kaupthing
ICELAND – Icelandic pension funds have bought a further stake in financial services group Exista from Kaupthing Bank, the bank announced today.
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Swedes and Dutch scrutinise private equity funds’ role
EUROPE – A week before general elections, the Swedish government has raised concerns about private equity fund Cevian’s investment approach in Volvo.
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Norway fund defends Wal-Mart divestment despite ‘flawed’ screening criticism
The Norwegian Government Pension F – Global today responded robustly to allegations that its equities screening process was arbitrary, opaque and unfair.
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Netherlands: Interesting times
NETHERLANDS - There's an old Chinese curse that says 'may you live in interesting times'. It might have been coined for the Dutch pensions industry. "All times are interesting, especially for Dutch pension funds," says Jeroen Steenvoorden, director of pension fund for self-employed medical specialists SPMS. "There is so much ...
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Germany: Book reserves still common
GERMANY - Although there are five different ways of creating an occupational pension the most common, with more than 50% of all pension assets and totalling around €400bn, is still through the book reserves of the employer, according to Klaus Stiefermann, general manager of the Association of Company Pension Schemes ...
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Big UK schemes warm to private equity
UK – Representatives of some of the largest UK pension funds have come out in favour of private equity as an asset class – though they say a “new professionalism” is needed.
