Markets – Page 210
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Unicredit fund appoints Robeco for fixed income brief
ITALY – The pension fund of Italian banking giant UniCredit has awarded Robeco Asset Management with a €40m (£27m) fixed income quantitative active duration mandate, it appeared today.
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€5bn in Italian TFR money looking for managers
ITALY – Under the new law on the severance pay (TFR) an estimated €5bn is to flow into private pension funds.
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Dutch funds return to equities - DNB
NETHERLANDS – Dutch pension funds invest more in equities now than they did during the internet boom, according to a study by Dutch pensions regulator De Nederlandsche Bank (DNB).
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European institutions ‘uneasy’ about bond trading
EUROPE – European institutions are becoming uneasy about developments in the fixed-income market – fearing hedge funds are taking too much of dealers’ attention, according to Greenwich Associates.
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Dutch doctors award €100m European small-caps
NETHERLANDS – The €12bn Dutch Doctors Pension Fund has awarded Munros Capital Management with a €100m European small-cap equities mandate.
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Janus’ Intech arm wins $600m Dutch brief
NETHERLANDS – PGB, the €9bn Dutch pension fund for the printing industry, has awarded Intech a $600m (€459m) US enhanced equity mandate, the firm announced today.
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IPE-QUEST: Multi-manager tenders global equities
EUROPE – A continental European multi-management firm has tendered $100m (€76.4m) in enhanced global equities via IPE-Quest.
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UBS, Aberdeen under review in Waltham revamp
UK – The £430m (€641m) London Borough of Waltham Forest pension fund is completely overhauling its investment strategy in a move from multi-asset to specialist managers.
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USS seeks to strengthen UK equities team
UK – The £26bn (€38.5bn) Universities Superannuation Scheme is looking for a UK smaller companies portfolio manager to strengthen its UK equities team.
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Dorset reviews Prudential M&G
UK – Prudential M&G has come under review at the €1.432bn (£966m) Dorset County Council pension scheme.
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John Lewis awards Japan equities to JP Morgan
UK – The £1.7bn (€2.5bn) John Lewis Partnership pension fund has awarded JP Morgan Asset Management a £50m Japanese active equities mandate.
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IPE-QUEST: Danish fund tenders European high-yield
DENMARK – A Danish industry-wide pension fund has tendered €50m in pan-European active high-yield debt via IPE-Quest.
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Goldman Sachs AM gets $94bn in net inflows
GLOBAL – Goldman Sachs says it had a total of $94bn (€139.5bn) of net asset inflows into its asset management business in 2006.
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Pension funds taking on too much risk, says ECB
EUROPE - The European Central Bank has warned that underfunded pension obligations may be leading investors into taking on too much risk – especially in emerging markets and high-yield bonds.
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PGGM in loan portfolio deal with ABN Amro
NETHERLANDS – The €80bn Dutch healthcare and social work pension fund PGGM has entered a partnership with ABN AMRO in which both share the risk related to the bank’s loan portfolio.
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BGI launches UK government bond ETFs
UK - Barclays Global Investors has launched two UK government bond Exchange Traded Funds for UK investors.
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UK government rejects longevity bonds
UK – The UK government has rejected the Pensions Commission’s suggestion that it should issue so-called “longevity bonds” to deal with future mortality rates.
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Dumfries fund tenders global equities, FX
UK – The £400m (€594.52m) Dumfries & Galloway Council Pension Fund is looking to put its global equity portfolio into active management again, after axeing Deutsche Asset Management.
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IPE AWARDS: Full list of winners
IPE AWARDS – Below is the full list of winners of the 2006 IPE Awards, held today in Paris:
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IPE AWARDS: Build stronger portfolios, schemes told
EUROPE - Pension funds should build stronger portfolios to brace themselves for worst-case scenarios rather than just researching them, the annual IPE Awards Seminar in Paris was told today.
