Investor Strategy – Page 235
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International Benefits Network expands membership
UK – Finland is one of the three new countries included in the consultancy network operated by International Benefits Network (IBN), a worldwide grouping for employee benefits services. Three new member firms have been added to give greater international presence.
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Metalektro taps Goldman for E750m brief
NETHERLANDS – The 11.7 billion euro Pensioenfonds Metalektro has appointed Goldman Sachs Asset Management to manage a 750 million euro asset allocation and active currency mandate.
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Consultants HBW launch ‘conflict free’ fund service for pensions
UK – Major consulting firm Hewitt Bacon & Woodrow(HBW) has introduced the Fund Delivery Service enabling pension funds to choose investment funds from a wide range of managers, but on a basis that claims to avoid any conflicts of interests.
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AP7 looks at e1bn active currency overlay strategy
SWEDEN – The Stockholm-based e2.9bn AP7 fund looks set to introduce an actively managed currency overlay strategy that could be worth up to e1bn next year, in the pursuit of greater outperformance.
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Sweden’s IPM expands First Quadrant venture
SWEDEN – Swedish investment strategy firm Informed Portfolio Management has expanded its European marketing deal with California-based First Quadrant.
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Ex-Watson Wyatt consultant joins Investit
UK - Former Watson Wyatt senior investment consultant Philip Robinson has joined specialist consultancy Investit in London to boost its strategic marketing and investment process practice.
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UK Pension Commission to report by summer 2005
UK – The new Pension Commission, set up by the government to review private pensions and long-term savings, plans to issue its first report in two years’ time.
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Glaswegian wins State Street Caledonian Challenge
UK - The organisers of the State Street Caledonian Challenge will know later this week how many of 1,620 who registered to walk the designated 54 mile stretch of the West Highland Way in a 24 hour period actually completed what is reckoned to be the country’s “premier endurance challenge”.
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Goldman Sachs AM loses E6.8bn in British Coal revamp
UK - The 10 billion pound (14 billion euro) British Coal Staff Superannuation Scheme has withdrawn 4.8 billion pounds (6.8 billion euros) from Goldman Sachs Asset Management -but says GSAM remains a "favoured manager".
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US Fed study: pensions distorted stock prices
US – A study by two economists at the US Federal Reserve has found that “pension-induced valuation errors” distorted US stock prices in the late 1990s stock market bubble.
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Investment consultant named to AP2 board
SWEDEN – The government has named investment consultant Märtha Josefsson to the board of the 12.8 billion-euro second Swedish national fund Andra AP-fonden.
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IPE.com nears one million “hits”
EUROPE – IPE.com is getting close to recording one million article views, or “hits”, and there’s a prize for the millionth reader.
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New UK regulator to build pension database
UK – The successor to the Occupational Pensions Regulatory Authority is to build a comprehensive regulatory database of the UK’s 100,000 pension schemes.
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AP1 widens consultant remit to include ALM
SWEDEN – The 12.8-billion euro Swedish national pension scheme AP1 is looking for a consultant who can offer asset liability modelling, manager selection and evaluation.
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UBS sees UK pension assets growing rapidly
UK – UBS Global Asset Management reckons UK pension assets will grow to 1.4 trillion pounds (1.98 trillion euros) by the end of 2012 – saying there a number of trends that point to “rapid future growth”.
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Pension funds “natural” investors in German roads
GERMANY – Pension funds are “natural” investors in German road-building projects, according to a new report by Deutsche Bank – though it admits it may be hard to attract international institutions.
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Austrian MPs pass pension reform bill
AUSTRIA – The Austrian parliament has passed the controversial pension reforms bill, although chancellor Wolfgang Schuessel had to concede on key points to calm rebellion among the two coalition parties.
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Lacaille replaces Woods as SSGA's UK CIO
UK – State Street Global Advisors’ UK chief investment officer, Chris Woods, has been moved into a different role and is being replaced by Rick Lacaille, former head of structured products.
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Receiver KPMG backs UK pension proposals
UK – KPMG, which is acting as receiver at the failed ASW Holdings – whose pensioners have lost out following the winding up of its pension scheme – has backed the government’s plans to set up a pension protection fund.
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Fidelity tops poll of European fund managers
EUROPE – Fidelity Investment Services has been voted the leading pan-European fund management firm in the Thomson Extel survey.
