Investor Strategy – Page 251
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Mercer IC prepares to re-open Stockholm office
UK/NORDIC- Mercer Investment Consulting has appointed Hanne Hother as a senior investment consultant for the Nordic region. Based in London, she will develop the investment consulting services in Sweden, Denmark, Norway and Finland.
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First German sponsored Pensionsfond gets go-ahead
GERMANY - The German chemical employers association, the Bundesarbeitgeberband Chemie (BAVC) and the industry’s trade union, the Industriegewerkschaft Bergbau, Chemie, Rnergie (IG-BCE), have received the go-ahead to launch Germany’s first sponsored Pensionsfond – the first grouping to do so.
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AP4 tenders $600m in Asia and Japanese equities
SWEDEN- Sweden’s Skr130bn (e14.3bn) AP4 fund has announced the tendering of Asia Pacific-ex Japan and Japanese equity mandates worth up to a total of $600m (e682m). The fund is to appoint several firms to oversee the mandates, deadline for applications is May 11th and appointments should be announced some time ...
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Zurich completes purchase of Deutscher Herold
SWITZERLAND/GERMANY- Zurich Financial Services has completed the e1bn, 75.9% acquisition of the insurance holdings of Deutsche Bank including the Deutscher Herold Group, Bonnfinanz, and DGV.
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Mercers IC business development head moves to TGM
UK- The recently re-named Mercer Human Resource Consulting has lost its investment consulting head of marketing and business development David Tucker to a similar role at TGM Asset Management in London. TGM started life in 1997 as a tactical asset allocation manager but has since moved into currency overlay and ...
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Threadneedle relocates UK property fund to Jersey
JERSEY/UK- Threadneedle Investments has formed the Threadneedle Property Unit Trust by relocating the former Sackville Property Unit Trust from the UK to Jersey. Prior to the switch, the £110m fund was only open to UK pensions and charities. The move to Jersey will open it to a broader range of ...
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Scottish Life launches guaranteed growth fund
UK – Isle of Man-based capital protected products specialist Scottish Life International (SLI) has launched a new guaranteed growth fund, the Protected Term Deposit (PTD) Series I, aimed at self-administered pension schemes.
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S&P to publish 2,200 funds' asset allocation data
GLOBAL- S&P Fund Services has announced it is to publish asset allocation data for more than 2,200 UK unit trusts, OEICs and offshore funds from the end of the month. The data, available on www.funds-sp.com, will show each fund’s top ten securities by name and percentage, portfolio allocations by industry, ...
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Powys seeks investment managers for £80m
UK – The £160m (€260.7m) Powys County Council pension fund in Wales is looking for asset managers for a £48m active fixed income mandate and two £16m active equity mandates. John McNeil, head of finance at the fund, says the RFP has come about because the fund grew unhappy with ...
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VGZ picks GSAM for e1bn fiduciary role
NETHERLANDS- Zorgverzekeraar VGZ, one of the largest specialised health insurers in the Netherlands, has appointed Goldman Sachs Asset Management as fiduciary manager for its entire investment portfolio worth almost e1bn. VGZ remains responsible for dictating the strategic investment policy but as fiduciary manager, Goldman Sachs will look after asset ...
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Avon drops MLIM and Gartmore for underperformance
UK – The £1.5bn (€2.4bn) Avon Pension Fund has dropped Merrill Lynch Investment Managers (MLIM) and Gartmore from mandates worth almost £1bn (€1.6bn) for failing to achieve performance targets since they were appointed in 1997.
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Second pillar to grow five-fold by 2020
EUROPE – Europe’s second pillar pensions market will grow from its current level of €3.5trn to €17trn by 2020, at the expense of the first pillar market, amid inevitable structural change and with dramatic implications for European capital markets, says Commerzbank.
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FIA selects Morley for $100m global equity mandate
UK – The FIA Foundation for the Automobile & Society (FIA), a UK registered charity dealing with road safety and environmental issues, has awarded a $100m (€114.4m) global equity mandate to Morley Fund Management, the London-based independent asset manager.
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Beaver and Edmans join Opra board
UK – The Occupational Pensions Regulatory Authority (Opra) has appointed Wendy Beaver and Laurie Edmans as members of its board with effect from April for one year, replacing John Bowman and Sue Ward whose one-year term of office has expired.
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Robeco to acquire Transtrend in alternatives push
NETHERLANDS – Rotterdam-based asset management group Robeco is to acquire Transtrend, a hedge fund manager and futures trading company, as part of its strategy to expand into the alternative investment market, particularly in the area of single-manager hedge funds.
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Crédit Européen launches insurance pension fund
LUXEMBOURG- Crédit Européen, the bank belonging ING Group’s BBL, has become the second company to take advantage of the Luxembourg legislation allowing insurance-based pension funds and is setting up a scheme for its 900 employees.
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Russian pension fund reform delayed
RUSSIA - The draft law governing the investment strategy of Russia’s new state pension system has suffered a further setback with a row developing over the level of participation of the country’s private pension funds (PPFs).
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Mediafond issues RFP for its assets
ITALY – Mediafond, the supplementary pension fund for workers in Italy’s private radio, television and media sectors, has put out an RFP for managers for its assets.
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Schemes' UK equity holdings lowest since 1983
UK- Holdings in domestic equities by UK pension funds has fallen below 50% for the first time since 1983 according to the 2001 Russell/Mellon CAPS pension fund survey. The 1651 UK funds surveyed by Russell/Mellon held an average of 47.4% of their assets in UK equities, down from 51%at the ...
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Robeco restructures mid-caps to suit investors
NETHERLANDS – Rotterdam-based asset management group, Robeco, has amalgamated its Dutch and Euroland mid-cap funds and merged them into the Robeco European mid-caps fund to allow investors greater access to the Swiss and UK markets, Europe’s dominant mid-cap countries.
