Markets – Page 186
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Property and infra to see investment resurgence - study
[16:30 CEST 20-04] GLOBAL – A study of pension funds and institutional investors suggests funds will increase their listed and private equity holdings this year, but the asset classes of most interest for future years are likely to be property, infrastructure and hedge funds of funds.
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Asian equities eyed via external manager
[16:15 CEST 17-04] IPE-QUEST – A Swiss investor is conducting an initial manager screening for a potential $100m (€76m) large-caps Asia (ex Japan) equity mandate, using IPE-Quest.
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Industriens diversifies to tap high-yielding dividends
[16:00 CEST 17-04] DENMARK – Industriens Pension, the €8.3bn pension fund, has diversified its equity holdings a fraction to tap potential opportunities linked to dividend income.
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S&P warns 3 in 10 high-yield debts could default
[16:10 CEST 16-04] EUROPE – Standard & Poor’s has predicted as many as 29% of existing Western European speculative-grade companies could default on their debt agreements by the end of 2010.
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Bonds downgrading ‘artificially lowered’ deficits – Hymans
UK – A downgrading in the credit rating of some of General Electric’s corporate bonds has in turn artificially lowered the reported pension deficits at the UK’s top 350 listed firms in the first quarter of this year, according to Hymans Robertson.
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Investors eyes growth in biotechnology
[16:45 CEST 15-04] IPE-QUEST – A continental European investor is looking to hire a manager to look after a $20m (€15.2m) biotechnology equity mandate, using IPE-Quest.
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Quantitative easing has 'distorted' pension liabilities
[17:00 CEST 09-04] UK – The Bank of England’s policy of quantitative easing has indirectly increased the pension scheme deficits of FTSE 100 companies as the price of gilts “soared to their highest level in 20 years”, Deloitte has claimed.
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Horeca maintains strategy with small cap appointment
[16:00 CEST 09-04] NETHERLANDS – The €2.5bn Horeca & Catering pension fund is continuing with its asset allocation diversification plan despite a recent further fall in its cover ratio, and has awarded RCM a mandate to manage European small cap equities.
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Norway-Global rules out high-yield bonds
[17:00 CEST 06-04] NORWAY – The Government Pension Fund – Global has ruled out extending into high-yield and emerging market bonds, and has also warned it is unlikely to reach its 5% allocation to real estate for "several years".
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Swiss pension pursues European equity (amended)
[16:55 CEST 02-04] IPE-QUEST – A Swiss pension fund is looking to hire a manager for a $40m (€29.9m) global equity mandate, using IPE-Quest.
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Rhondda and Somerset start manager searches
[16:25 CEST 02-04] UK – Rhondda Cynon Taf County Borough Council has initiated a search for at least two investment managers, while Somerset Council is seeking an active Japanese equity manager.
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Market losses lower FRR mandate wins
[16:00 CEST 02-04] FRANCE – FRR, the €27.7bn French national pension fund, is dividing two equities mandates between a total of seven investment managers, albeit the sum invested is now smaller than originally advertised thanks to the impact of recent market falls.
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Bank of England scheme pre-empted crisis
[17:00 CEST 31-03] UK – The Bank of England Pension Scheme appeared to almost pre-empt the financial crisis of last year as it returned 12% in the year to February 2008 and reduced equity holdings so it could invest in index-linked gilts.
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Irish funds drop 23% 'but could have been worse' - IAPF
[16:30 CEST 31-03] IRELAND – Irish pension schemes lost almost €20bn in 2008, but this is “less than might have been expected” following reductions in equity allocations to domestic stocks, The Irish Association of Pension Funds (IAPF) has revealed.
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South Yorks seeks bonds as Pioneer delivers GEMs in Somerset
[16:20 CET 24-03] UK – The South Yorkshire Pension Fund is searching for at least one UK corporate bond investment manager with a mandate of up to £300m (€326m).
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Quest begins to find commodities and GEMs
[17:05 CET 20-03] IPE QUEST – A Swiss pension fund is looking CHF400-600m (€261-392m) in commodities in a global mandate sought through IPE-Quest.
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Pension scheme looks to China
[16:55 CET 13-03] NETHERLAND – A Dutch pension scheme is looking for an asset manager to run a €10m Chinese equity mandate, using IPE-Quest.
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Dutch schemes lost €86bn in Q4
[16:10 CET 13-03] NETHERLANDS - Dutch pension funds’ combined investments in equity and fixed income decreased by 19% to €529bn during the fourth quarter of 2008, according to De Nederlandsche Bank.
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Hackney moves into currency as BGI disappoints
[15:50 CET 13-03] UK - The London Borough of Hackney has appointed FX Concepts to run a specialist £150m (€162m) active currency programme for its local government pension scheme.
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FSA attacks investors for not doing enough
[17:00 CET 12-03] UK - Institutional investors have a "major role" to play in addressing issues arising from the current financial crisis, as they share responsibility for the actions of companies and the resulting consequences, the UK's financial regulator has warned.
