Markets – Page 196
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Global pension assets drop 18% in 2008
[16:30 CET 03-02] GLOBAL – Economic conditions have resulted in the largest annual decline in global pension fund assets “for many years”, as the total value of pension pots fell 18% in 2008 to $25trn (€19.6trn), according to research from International Financial Services London (IFSL).
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Merseyside reviews £320m unconstrained bonds
[16:40 CET 02-02] UK – Merseyside pension scheme has issued a tender notice for two fixed income managers to run unconstrained sterling broad market mandates equivalent to 8% of the fund’s assets.
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ABP bleak on recovery prospects
[16:50 CET 29-01] NETHERLANDS – ABP, the largest Dutch pension fund which today revealed its assets had dropped by €44bn in 2008 to €173bn, has warned signs of a structural recovery on the equity markets are scarce.
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State fund to boost economy through corporate debt
[16:20 CET 28-01] FINLAND – The ministry of finance is to allow the State Pension Fund VER to purchase commercial paper in “significant and solid Finnish companies” as part of a series of proposals to help boost the Finnish financial markets.
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Risk not rewarded in the medium-term
[15:00 CET 27-01] SWITZERLAND – Risk in Pensionskassen portfolios has not been rewarded over a longer period, Credit Suisse has claimed, while State Street has calculated pensionskassen saw an average 2008 return of -16.83%.
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Caution urged on bonds as BoE considers purchase
[16:40 CET 26-01] EUROPE - A move by the Bank of England to buy corporate bond debt could be enough to kick start liquidity in the sector again but there are now concerns about the huge investor interest in the sector, claim officials at Standard Life Investments (SLI).
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Danish investors to award $300m debt mandate
[16:30 CET 26-01] DENMARK – A Danish financial institution is looking for a manager to look after a $300m (€232m) hard currency debt mandate in global emerging markets, using IPE Quest.
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2008 volatility hits more Finnish funds
[16:20 CET 23-01] FINLAND – Etera Mutual Pension Insurance Company has reported a €1.2bn fall in the value of its assets in 2008, according to preliminary figures while Eläke-Fennia saw a negative return of 12% and VER suffered further to lose 15% last year.
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Swiss institution seeks Japanese equities
[15:45 CET 22-01] SWITZERLAND – An institutional investor based in Switzerland is searching for a manager for a $75m (€58m) Japanese equities mandate, using IPE Quest.
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Pensions funds opt to raise TRS collateral
[12:00 CET 22-01] EUROPE – Pensions funds are likely to be paying slightly higher for passive investments since the collapse of Lehman Brothers if using synthethic replication, but are choosing to do by over-collateralising their total return swaps, according to officials at Morgan Stanley Investment Management.
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NewsFRR appoints BGI for equities
[16:25 CET 21-01] FRANCE – FRR, the €33bn French national pension reserve fund, has tapped Barclays Global Investors (BGI) for a €1bn European equities mandate.
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NewsImproved confidence yet to translate to market shift
[16:15 CET 21-01] US – Global investor confidence is said to have improved as a monthly sentiment recorder has climbed 12.1 points against the end of last year, but analysts have questioned whether the improved confidence is actually shifting into market sentiment given the ongoing turmoil.
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Swedish debt office highlights foreign currency demand
[13:00 CET 21-01] SWEDEN – Riksgälden, the Swedish National Debt Office (SNDO), has reported a strong demand for a new foreign currency bond, valued at around SEK 16bn (€1.5bn), the first to be issued by the organisation in two years.
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PPM scheme mulls swaps and eurobonds (amended)
[15:00 CET 20-01] SWEDEN – The Swedish Premium Pension Authority (PPM) is looking at investing in swaps and eurobonds to restock its buffers, according to its head of financial analyses, Sara Bergström.
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Merseyside awards equity roles and moves fixed income
[16:55 CET 19-01] UK – Merseyside Pension Fund has appointed four new investment managers to run a third of the £3.7bn (€4.1bn) scheme's allocation to UK equities, ahead of plans to start a new search for active fixed income managers.
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ISEQ pension deficit estimated at €7.8bn
[15:45 CET 16-01] IRELAND – The aggregate deficit in pension schemes belonging to companies on the Irish Stock Exchange (ISEQ) increased to €7.6bn, according to latest estimates by Mercer.
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Swiss investor goes into emerging markets
[16:45 CET 13-02] SWITZERLAND – A Swiss institutional investors is searching for an emerging market equities manager for a $250m (€189m) mandate, using IPE Quest.
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Pension Fund Forum: Dividend pressure
Pension funds could see the dividends earned from equities decrease substantially over the coming months, as companies come under pressure to put corporate security ahead of investor payouts.
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NewsSecs lending 'oils the machine' – Kas Bank
[14:30 CET 12-01] NETHERLANDS – Albert Röell, chairman of Dutch securities bank Kas Bank’ managing board, has warned securities lending is “the oil for the financial machine”.
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NewsMore equity volatility predicted
[14:00 CET 12-01] GLOBAL – Equity volatility remains high in 2009, while real yields on government securities are likely to remain low, according to a global fund manager survey by consultancy firm Watson Wyatt.
