Investor Strategy – Page 198
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News
Managers, strategy under scrutiny at Co-Op
UK – The Co-operative Group’s decision to shut its final salary scheme and create a single £4.7bn (€6.8bn) career-average salary fund will put both investment strategy and fund managers under review if trustees formally approve the change.
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Watson Wyatt & Co. changes name
GLOBAL - Watson Wyatt & Co. Holdings has changed its name to Watson Wyatt Worldwide Inc. to reflect the recent acquisition of its European affiliate.
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Vanguard committed to Europe despite departures
NETHERLANDS – Vanguard said it remains committed to its European institutional business despite a number of executive departures.
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Delta Lloyd’s Bostanci wins IPE/AIMSE scholarship
GLOBAL - The 2005 IPE/AIMSE Scholarship has gone to Sibel Bostanci, head of institutional sales at investment management firm Delta Lloyd in Germany.
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Allianz Global Investors sets up Luxembourg arm
EUROPE – Allianz Global Investors has founded a subsidiary in Luxembourg from which it plans to bolster its European presence, especially where investment funds are concerned.
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Horeca moves into commodities
NETHERLANDS - Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering scheme, has awarded a passive commodities mandate to Western Asset Management.
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Unilever sets up €5bn asset pooling vehicle
EUROPE – Consumer products group Unilever has set up a pension asset pooling vehicle called Univest which could grow to around €3-5bn in size.
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Allianz’s DEGI cuts German real estate holdings
GERMANY – Real estate fund provider DEGI plans to cut the German holdings of its core German fund, after the fund was hit by €271.5m in net outflows in the first 11 months of this year.
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Dutch Treasury won’t issue index-linked bonds
NETHERLANDS - The Dutch State Treasury Agency won’t issue index-linked bonds in the near future, it said in its outlook for 2006.
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OECD flags up scarcity of government bonds
GLOBAL – The Organisation for Economic Cooperation and Development has flagged up the potential scarcity of high-quality long-term government bonds for pension funds.
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IPE-QUEST: Nordic bank seeks sub advisor
NORDIC – A Nordic bank has tendered an initial $80m sub- advisory mandate via IPE-Quest.
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EU’s Almunia sees no changes to social model
EUROPE - Joaquín Almunia, the European Commissioner for Economic and Monetary Affairs, says the continent’s social models will not have to be sacrificed to deal with population ageing and globalization.
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Hoogovens scheme’s Bronger joins Robeco
NETHERLANDS – Patrick Bronger, senior investment manager at the €5.3bn Hoogovens pension fund, has joined Robeco’s hedge fund department.
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ABP, PGGM award €11bn private equity mandate
NETHERLANDS – ABP and PGGM, the two largest Dutch pension funds, have awarded a new €11bn private equity mandate to AlpInvest.
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International pensions now mostly DC – Mercer
GLOBAL - Two-thirds of companies with international pension plans now use defined contribution arrangements, according to a survey from Mercer Human Resource Consulting.
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Fidelity setting up multi-manager business
UK – Fidelity Investments is setting up a multi-manager business that will eventually offer manager of managers services.
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Purchase boosts Morningstar investment consulting
US – Investment research firm Morningstar says its $83m (€69.6m) cash acquisition of asset allocation firm Ibbotson will boost its investment consulting business.
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Poland approves Nordea pension purchase
POLAND – The Polish authorities have approved Nordea’s previously announced acquisition of Sampo’s Polish life and pensions businesses.
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Dutch schemes in deal with Altera Vastgoed
NETHERLANDS – The Stork and PNO Media pension funds are to transfer their €90m Dutch real estate portfolio to, and become shareholders in, real estate group Altera Vastgoed.
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Janus names consultant relations director
GLOBAL - Janus Capital Group has named Brad Gillman as director of consultant relations at Janus Institutional Asset Management.
