Markets – Page 182
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CalPERS acquires 12.7% stake in London Gatwick Airport
GLOBAL – The California Public Employees' Retirement System (CalPERS) has acquired a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).
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New York State pension fund mulling BP lawsuit
GLOBAL – The New York State Common Retirement fund, one of the largest pension funds in the US, is looking into the possibility of filing a lawsuit against BP for recklessness.
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NewsSpeculators do not drive commodity prices, says OECD
GLOBAL – Increased investment in commodities is not linked to the price volatility of the physical commodities themselves, according to a report from the OECD.
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NewsErste: Only 8% of Austrians see pension funds as 'ideal' retirement vehicle
AUSTRIA – More than half of Austrians no longer believe the state pension will suffice when they reach old age, but faith in second-pillar pensions is even weaker, a poll commissioned by Austrian banking group Erste has found.
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NewsNewAlpha launches fourth hedge-fund seeding fund
EUROPE – NewAlpha, a hedge-fund seeding specialist, has launched its fourth seeding fund.
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NewsEC, ECB and IMF endorse proposed revamp of Greek pension system
GREECE – The European Commission, the European Central Bank and the International Monetary Fund have thrown their weight behind the Greek government's proposed reform of its pensions system.
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NewsIMQubator invests €25m in Asia hedge fund for APG
GLOBAL – IMQubator, the innovation project backed by asset manager APG, has made a €25m seeding commitment in a new macroeconomic Asia hedge fund.
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ABN AMRO scheme recovers from funding and reserves shortfalls
NETHERLANDS – The €9.3bn pension fund of ABN AMRO recovered from a shortfall of its funding and financial reserves due to a 5.8% return on investments, as well as recovering equity markets and rising interest rates last year.
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Most fund managers believe euro-zone equities undervalued, report says
EUROPE – More than half of European fund managers think euro-zone equities are undervalued, according to a survey by Bank of America Merrill Lynch (BofA ML).
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Nordic roundup: ITP, AP7, AP fund boards, PensionDanmark
SWEDEN – More than 98,000 privately employed Swedes (41%) have already made their selection for their supplementary occupational pension provision, ITP, according to Collectum, the administrator.
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OECD report warns of income 'lottery' for future retirees
EUROPE – Future retirees can expect dramatic fluctuations in defined contribution (DC) scheme payouts unless they adopt investment strategies that lessen the impact of market shocks, according to the Organisation for Economic Co-operation and Development (OECD).
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Investors pull €1bn from German equity funds in April, says BVI
GERMANY – Equity funds in Germany lost almost €1bn worth of funding in April, according to the Bundesverband Investment und Asset Management (BVI).
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European institutional assets surpass €5 trillion
European institutional assets were €5.2trn at end-2009, up 8.3% from previous year (€5.2trn) Total AUM of IPE’s Top 400 Managers 2010 is €29.1trn (€23.4trn in 2009) Increase in overall AUM of 24.3% over 2009 BlackRock accounts for 7.9% of assets in study and is largest ...
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ECON revises proposed derivatives rules
EUROPE – The European Parliament’s Economic and Monetary Affairs Committee (ECON) today voted in favour of a compromise version of its proposed new legislation for over-the-counter (OTC) derivatives.
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AMIC to push corporate governance with EU paper
EUROPE – The Asset Management and Investors Council (AMIC) is working on a corporate governance paper in conjunction with the European Union.
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Financial hubs to be replaced by 'spider web'
GLOBAL – A de-linking of emerging economies from dependence on the traditional financial market centres of New York and London is taking place and will develop further, delegates at the International Capital Markets Association annual meeting heard in Brussels last week.
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NewsPension schemes optimistic on economy despite Greek crisis
GLOBAL – Pension funds are increasingly optimistic about the strength of the global economy, despite concerns over the financial situation in Greece, according to a quarterly survey in association with IPE.
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Provisum cancels underperforming 'black box' strategy
NETHERLANDS – Provisum, the €1bn Dutch pension fund of retailer C&A, has terminated its global tactical asset allocation (GTAA) due to poor performance and lack of transparency.
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Industriens gains 15.4% on stocks but uncertainty looms
DENMARK – Industriens Pension, the pension fund for the industrial sector in Denmark, benefited from a 15.4% return on Danish stocks in the first quarter of 2010, with its global equities portfolio delivering half that (7.7%) in total.
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Short-selling ban ‘red herring’ for wider euro-zone problems – ATP
EUROPE – Following widespread criticism from fund managers of Germany’s short selling ban, Danish pensions giant ATP has questioned whether it was really to blame for the subsequent currency and stock market falls.
