Markets – Page 180
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UK roundup: NILGOSC and Pitman Trustees
[16:30 CET 21-01] UK – The Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC) is seeking a global equity manager, while Pitmans Trustees has acquired the business of SBJ Professional Trustees.
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UN under attack over pension fund strategy
[15:35 CET 21-01] GLOBAL - The United Nations Joint Staff Pension Scheme has come under fire from a UN-related organisation for “under-investing” in developing countries while over-relying on external fund management.
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NewsNorway-Global gives up tobacco
[15:45 CET 20-01] NORWAY – The Ministry of Finance has excluded 17 tobacco-producing companies from the investment universe of the Government Pension Fund – Global, and there is the possibility that still more could be removed.
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Avon PF eyes global and emerging markets equities
[15:45 CET 19-01] UK - The £1.8bn (€2bn) Avon pension fund is searching for a global unconstrained equities manager to take care of 10% of the scheme’s total portfolio.
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Towers Watson eyes alternative emerging markets beta
[15:15 CET 15-01] GLOBAL - IPE has learned that pensions consultant Towers Watson is discussing the creation of GDP-weighted investable indices with product providers, to improve the efficiency of its clients’ emerging market equity exposure.
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Nominal GDP swaps 'could be key to DC guarantee'
[16:20 CET 14-01] EUROPE – Officials at the Bank of Italy have been working on a proposal to create a public swap-based return guarantee for members of defined contribution funds.
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Pension funds tap growing prospects for emerging markets
[12:30 CET 13-01] IPE-QUEST – Two European pension funds are pursuing the predicted surge of interest in emerging markets equity investments and have launched searches for suitable EM managers, using IPE-Quest.
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NBIM begins search for environmental managers
[16:30 CET 08-01] NORWAY – Norges Bank Investment Management (NBIM) is seeking managers to run a series of mandates aimed at the environmental and sustainable resource sectors.
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BlackRock predicts low inflation to stay in 2010
[16:30 CET 07-01] GLOBAL - Inflation is likely to remain low in 2010 and the US equity market will outperform other developed markets, according to BlackRock’s Bob Doll.
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Pension funds embark on Quest to invest
[16:55 CET 06-01] IPE-QUEST – Two consultancy firms are seeking equity and bond managers on behalf of their clients, one of which is confirmed as being a Danish pension fund.
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UK roundup: PPF targets secondary private equity
[15:45 CET 05-01] UK - The Pension Protection Fund (PPF) is seeking investment managers to take advantage of opportunities in the secondary private equity market. It is also re-tendering its global custody contract while the London Borough of Tower Hamlets is seeking a multi-asset passive investment manager.
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Equities recover but still deliver ‘worst decade’ performance
[16:45 CET 04-01] GLOBAL – MSCI Barra, the provider of equity market benchmark data, said strong performance of major regional equity indices indicated a recovery in stock markets last year. Yet rival provider S&P Indices said equities also delivered the worst 10-year performance ever recorded during the Noughties.
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FRR fires Dexia for poor performance
FRANCE – Fonds de Reserve pour Retraites (FRR) has dropped Dexia Asset Management as one of its European equity managers on the back of poor investment performance.
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Not a good time for interest rate matching - IPE survey
[15:00 CET 23-12] EUROPE - Now is not a good time to use assets to match interest rate risk in a liability-driven investments (LDI) strategy. Bond yields are too low and assets are better employed seeking yield elsewhere, according to 61.5% of pension funds responding to an IPE survey.
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PPF appoints global equity managers
[16:30 CET 22-12] UK – The Pension Protection Fund (PPF) has confirmed the appointment of seven global equity managers to help manage its assets.
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NewsFRR completes third set of bond appointments
[16:45 CET 18-12] FRANCE - Fonds de Reserve pour les Retraites (FRR), the €31.9bn French national pension reserve fund, has completed its recent renewal of some fixed income mandates with the appointment of five managers to run US bond mandates.
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Russian wealth fund timed equity move to reap market turn
[14:00 CET 18-12] RUSSIA - Russia’s sovereign National Wealth Fund has benefited to the tune of billions following a move earlier this year - to invest in domestic equities - that has been described by analysts as the “trade of the decade”.
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UK roundup: Tyne & Wear, Shropshire, Kent, Xafinity, FSA, PMI
[16:30 CET 17-12] UK – Several UK local authorities have reviewed their investment and administration mandates while there have been developments elsewhere in relation to UK pensions regulation.
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New chief at Austria's VVP considers equity risk hedge
[16:00 CET 17-12] AUSTRIA – The Victoria-Volksbanken Pensionskasse (VVP) may hedge parts of its portfolio in 2010, its new head Axel Hartleib, has told IPE.
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Poland to ease pensions investment rules (amended)
POLAND – As part of the plan to divert some contributions from the second pillar to the first investment regulations for open pension funds (OPFs) would be loosened, IPE learnt.
