Investor Strategy – Page 186
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News
ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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Citigroup, LGIM in pooling tie for Dutch schemes
EUROPE – Citigroup’s Global Transaction Services arm has created a pension pooling structure using an Irish common contractual fund vehicle for the Dutch pension fund clients of Legal & General Investment Management.
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Nordrheinische doctors fund taps GSAM for GTAA
GERMANY – Nordrheinische Ärtzeversorgung (NAEV), a €7.5bn pension fund for physicians, has awarded Goldman Sachs Asset Management a global tactical asset allocation mandate worth €60m.
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France’s new Natixis to be €534bn heavyweight
FRANCE - After two and half months of discussion, Caisse d’Epargne and Banque Populaire yesterday signed an agreement to merge their investment subsidiaries Natexis and Ixis - creating France’s second largest funds management company with assets of €534bn.
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Norwegian government fund excludes Wal-Mart
NORWAY – US retailer Wal-Mart is being excluded from the Norwegian Government Pension Fund – Global’s investment universe because of alleged serious and systemic human rights violations.
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CSAM Germany gets new chief investment officer
GERMANY - The German arm of Credit Suisse Asset Management has promoted Stefan Keitel as its new chief investment officer.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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SEI names Benelux client service director
BENELUX – SEI Investments has named Fortis Investments’ Peter in de Rijp as its new client service director for Benelux.
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Watson Wyatt hires Aon’s Yakoubov
UK – Watson Wyatt Worldwide says it has hired Yakoub Yakoubov from rival Aon Consulting.
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Dutch rail fund questions real estate boom
NETHERLANDS - Dutch pension funds will ditch bricks for funds, according to Peter van Gool, deputy director of real estate at Dutch pension fund SPF Beheer.
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Debate over UK university fund rages in press
UK – Debate over the coverage of the Universities Superannuation Scheme’s asset allocation continues to rage in the letters pages of the financial press.
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Swiss Life names Dutch asset management CIO
NETHERLANDS - Pension insurer Swiss Life has named Gerard Sirks as chief investment officer of its Dutch arm Zwitserleven, it announced.
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IPE Real Estate Awards: the winners
REAL ESTATE - Pension funds’ adoption of new models for new markets paid off at the IPE Real Estate Awards last night as investors collected prizes for geographical diversification and the move into indirect investment.
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Novartis pension fund returns 6.2%
SWITZERLAND – Novartis’ pension fund, one of Switzerland’s biggest with CHF14.6bn (€9.3bn) in assets, has reported a return of 6.2% for 2005 - well below the 11% average for other Swiss schemes.
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PPM tenders performance evaluation
SWEDEN - Sweden’s Premium Pension Authority, PPM, is seeking a consultant for, among other things, performance evaluation of its external asset managers.
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USS mulls €8.7bn switch from equities – FT
UK – The Universities Superannuation Scheme is considering a £6bn (€8.7bn) shift out of equities into alternative assets such as private equity and infrastructure investments, according to a news report.
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MLIM nabs Henderson institutional’s Davies
UK - Merrill Lynch Investment Managers has hired Henderson Global Investors client relationship head Gareth Davies.
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Swiss teachers fund BLVK rejects legal action
SWITZERLAND – The CHF4.6bn (€2.95bn) Berne teachers pension fund BLVK says it won’t take legal action against those deemed responsible for its financial woes – despite calls from members.
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FIM Asset Management hires two from Nordea
FINLAND – FIM Asset Management has hired two executives from Nordea, with Petri Aho becoming head of international sales and Jouni Salmenkivi head of fixed income.
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Russell unveils upgraded web pension tools
GLOBAL - Russell Investment Group has unveiled the next generation of its web-based services for institutional clients.
