Investor Strategy – Page 236
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News
Report queries Petroleum Fund investment strategy
NORWAY – Norges Bank Investment Management’s short-term “trading” approach to the management of the 86.5 billion-euro Petroleum Fund is in contrast to a more conventional institutional approach, says a new report.
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First State Investments UK CEO quits
UK – Rob Adams, chief executive officer of First State Investments UK, international funds subsidiary of the Commonwealth Bank of Australia has resigned.
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Consultant places Euro 690m mandates on IPE Quest
GERMANY – Five mandates totalling 690 million euros have been tendered by an investment consultant on behalf of a German institutional investor on IPE Quest.
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AXA loses bond expert Bond to Threadneedle
UK – AXA Investment Managers’ head of corporate bonds, Simon Bond, will be leaving to join Threadneedle Asset Management.
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AP3 appoints Axa Rosenberg and Batterymarch for Euro325m briefs
SWEDEN – The third Swedish national pension fund, AP3, has appointed Axa Rosenberg Investment Management and Batterymarch Financial Management as managers of a US small and midcap equities portfolio.
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ADAM launches ‘new balanced’ approach for European institutions
EUROPE – The European asset management industry could well be moving away from traditional balanced portfolios to a new-type of balanced funds with elements of multi-management and specialisation, says Allianz Dresdner Asset Management (ADAM).
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ABP’s chief investment officer backs equities
NETHERLANDS – The chief investment officer of Europe’s largest pension fund, the 133-billion euro Stichting Pensioenfonds ABP, has put his weight behind equities’ role in pension fund portfolios.
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Romania to raise pensions by 2.7% - report
ROMANIA – The Romanian government has decided to raise public pensions payments by almost three percent from next month, according to local reports.
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CSAM's chief investment officer Smith to leave in revamp
GLOBAL – Larry Smith is to leave his post as chief investment officer at Credit Suisse Asset Management after three years following yet another re-organisation by the company.
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SWIP names head of Italian business
ITALY – Scottish Widows Investment Partnership has appointed Francesco Albano as its new head of Italian business development.
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HSBC says ageing is shaping financial services
UK – HSBC says population ageing is starting to shape the demand for financial services.
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Lucent’s Dutch fund ousts Schootse Poort, ABN Amro
NETHERLANDS – The incumbent managers at Lucent Technologies’ 450 million euro Dutch pension fund, Schootse Poort and ABN Amro, have been replaced in a shift to specialist managers.
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Liechtenstein’s LGT buys Swiss Life’s STG
SWITZERLAND / LIECHTENSTEIN – Financial services company, LGT GROUP, is acquiring fiduciary company STG Treuhandgesellschaft and its subsidiaries from the Swiss Life Group in order to expand, and to strengthen its activities in Switzerland.
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Law Debenture’s finance chief Skeggs leaves
UK – The chief financial officer of trustee services firm Law Debenture, Peter Skeggs, has left abruptly.
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Two German pension consulting firms merge
GERMANY – Consulting firms Heubeck and FJA are merging to exploit opportunities in the German pensions market.
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NAPF in corporate governance joint venture
UK - UK investors will soon have better access to corporate governance analysis and electronic voting as a result of a joint venture between the National Association of Pension Funds and the US-based governance organisation, Institutional Shareholder Services.
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ABP, PGGM oppose Telecom Italia-Olivetti merger
EUROPE – Some of Europe’s largest pension funds have backed a call opposing Telecom Italia’s planned merger with Olivetti.
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Institutions flex muscles in Glaxo pay vote
UK – Shareholders have voted to reject a controversial pay package of the chief executive of drugs company GlaxoSmithKline - the first time a UK blue-chip company has had its pay scheme rejected by shareholders.
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UK pension funds lack formal assessment of consultants
UK – An overwhelming majority of UK pension funds have no formal way of assessing the advice they receive from consultants, according to a new survey.
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Norway’s KLP ready for new pension proposals
NORWAY – Mutually-owned insurer KLP says it is well placed to benefit from proposed changes in the Norwegian pensions market, but says it will mean hard work and a change in its approach.
