Markets – Page 214
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DekaBank opens Vienna office
[17:02 CEST 11/05] AUSTRIA – German asset manager DekaBank is opening an office in Vienna targeting pension funds in Austria and Eastern Europe.
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Schroders loses balanced LGPS mandate
[17:20 CEST] UK – The £640m (€935m) London Borough of Tower Hamlets Pension Fund has replaced Schroders on a balanced mandate with two specialist managers.
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DaimlerChrysler plans equities shift
[11:53 CEST] GERMANY – The €8.9bn DaimlerChrysler pension scheme is planning to invest €680m in German large cap equities this summer and has hired a consultant to select the appropriate manager.
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Currency overlay ‘flavour of the month’ at Lincolnshire
UK – The £1.1bn (€1.6bn) Lincolnshire County Council Pension Fund is seeking a currency overlay manager for a new £180m mandate.
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Edinburgh re-appoints State Street
UK – Edinburgh Council has renewed State Street Global Advisors' contract for a £113m (€180m) Scottish Homes pension fund mandate.
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Ealing completes manager review
UK – The London Borough of Ealing's £557m (€816.7m) pension fund has replaced UBS and Fidelity with three new managers.
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AP7 in major portfolio overhaul
SWEDEN – In a major revamp of its portfolio the SEK80bn (€8.8bn) Swedish buffer fund AP7, Sjunde AP-fonden, shows more appetite for risk but not for hedge funds.
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Essex awards £1bn in mandates
UK – The £2.6bn (€3.8bn) Essex County Council Pension Fund has awarded a £1bn currency overlay mandate and a £150m unconstrained equity mandate.
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IPE-QUEST: Dutch fund in EM bond search
NETHERLANDS – A Dutch institutional investor is seeking a local emerging markets bond manager for a $100m (€73m) active mandate using IPE-QUEST (QN802).
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Ciba axes BlackRock
UK – The UK pension fund of Swiss pharmaceuticals giant Ciba Speciality Chemicals has axed BlackRock in favour of Insight Investments.
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Dutch LDI reaches €50bn - Cardano
NETHERLANDS – The volume of Dutch pension assets under liability-risk hedging strategies has reached €50bn, according to Cardano Risk Management.
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Unilever taps JP Morgan for global equities
UK – The €5.6bn (£3.8bn) UK pension fund of household goods giant Unilever has appointed JP Morgan’s asset management arm to run a £440m global equities mandate.
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Greeks to strike over bond scandal
GREECE – The largest union in Greece has called a nationwide strike on May 15 in response to government handling of dubious bond purchases by pension funds.
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Co-head of UK equities at £29bn scheme quits
UK – Fraser Slater, co-head of the UK equities team at the £29bn (€43bn) Universities Superannuation Scheme (USS), has left and the fund is looking for replacements.
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Institutions still downbeat – Merrill survey
GLOBAL – Institutional investors are “still fundamentally pessimistic” about the outlook for corporate profit growth, fixed income and credit, a survey by investment bank Merrill Lynch has found.
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UK’s Marathon Club calls for statement of beliefs
UK - Pension trustees should be clear about their investment beliefs as well as focus less on short-term asset manager performance, says the Marathon Club.
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Norwegian fund to screen for arms links
NORWAY – The NOK1.8trn (€220bn) Norwegian Government Pension Fund – Global is to screen its equity holdings to filter companies with connections to certain types of weapon production.
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Aon survey casts doubt on pension buyouts
UK – Only up to 10% of UK companies are candidates for a buyout solution for their pension scheme within the next three years, according to a survey from Aon Consulting.
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British Airways cabin crew accept pensions deal
UK – British Airways cabin crew have voted to accept the pensions deal that was negotiated at the start of the year, a union says.
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Avon awards hedge fund mandates
UK – The £2.1bn (€3.1bn) Avon Pension Fund has awarded a £210m hedge fund mandate to five managers alongside a UK unconstrained equity mandate and an active corporate bond mandate worth £100m each.
