Markets – Page 216
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IPE-QUEST: Dutch funds seek Canada and Asia managers
NETHERLANDS - A Dutch corporate pension fund is using IPE-QUEST to look for a large cap Canadian equities manager for a $125m (€94m) mandate (QN735).
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ABP to disclose entire equity holdings
NETHERLANDS - At least four large Dutch pension funds have announced they will disclose the names of quoted companies in which they invest.
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Protection fund appoints five new asset managers
UK – The London-based Pension Protection Fund (PPF) has diversified its portfolio and appointed five new fund managers for its £305m (€446.3m) investment fund, set to grow to £5bn by 2009.
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Musgrave fund ups bonds, out of active mandates
DUBLIN – The €60m pension fund of Irish retailer Musgrave will reduce its exposure to equities in order to up its bond portfolio.
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FRR issues five tracking mandates for €5.8bn
FRANCE – The €32bn Fonds de réserves pour les retraites, France’s national pension surplus fund, has issued a handful of passive mandates for Eurozone and North American equities.
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IPE-QUEST: Danish fund in Japan search
DENMARK – A Danish pension fund is looking to appoint an active core large/all cap Japan equities manager using IPE-QUEST (QN722).
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United Nations to outsource $9bn US equities
GLOBAL – The $36.6bn (€27.7bn) United Nations Joint Staff Pension Fund (UNJSPF) has decided to outsource its $9bn US equities portfolio.
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Liabilities rise as equities and bond yields drop
EUROPE – Pension funds are facing a two-way hit as the current market correction co-incides with a fall in bond yields. But this is only a short-term problem, say pension funds.
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German Pensionskassen stay steady with bonds
GERMANY – Pensionskassen, or insurance-type German pension funds, continue to invest heavily in bonds while keeping exposure to equities well below that of their Swiss and Austrian peers, a new survey by international accountant Ernst & Young reflects.
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FRR steps into emerging market equities
FRANCE - The €32bn Fonds de Réserve pour les Retraites (FRR) has started a temporary and limited exposure to emerging market equities before tendering a full mandate in summer.
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Suffolk re-appoints State Street
UK – The £1.2bn (€1.8bn) Suffolk County Council pension fund has re-appointed State Street as its custodian.
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AP1 to review active Japan strategy
SWEDEN – Martin Currie, Nomura and Marathon have been placed under review as the largest Swedish buffer fund, the SEK188bn (€20.4bn) Första AP-fonden (AP1), reviews its Japanese equity strategy.
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Experts urge funds to diversify, not protect portfolios
GLOBAL – Long-term investors such as pension funds should diversify rather than protect portfolios against short-term losses, according to a new study by ABN Amro and the London Business School.
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Flintshire awards £305m mandates
UK – The £793m (€1.2bn) Clwyd Pension fund has awarded two unconstrained mandates worth £145m to Investec and Stone Harbour, a £120m UK equities mandate to Standard Life and a £40m GTAA mandate to Barclays Global Investors.
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Fidelity adds commodities and real estate to mixed new fund
NETHERLANDS - Fidelity International has launched a mixed investment fund, which also includes commodities and indirect property, in addition to the traditional asset classes equity, fixed income and currency, it said.
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Achmea to start €10bn covered bond programme
NETHERLANDS - Achmea Hypotheekbank has said it will issue a €10bn covered bond programme aimed at institutional investors.
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IPE-QUEST: North Europe pension fund tenders €192m equity mandate
EUROPE – A northern European pension fund is looking for a manager to invest $250m (€192.5m) in global equities using IPE-QUEST (QN694).
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Sweden’s AP funds launch joint SRI council to vet foreign equities
SWEDEN – Sweden’s national pension buffer funds, AP1, AP2, AP3 and AP4, have introduced a joint ethical council to review their socially responsible investment (SRI) holdings in foreign companies.
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IPE-QUEST: Three Dutch mandates up for grabs
NETHERLANDS – Dutch pension funds are looking for bond and equity managers for a $200m (€154.5m), a $300m and a $400m mandate respectively using IPE-QUEST.
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Take the equity route to natural resources, argues US manager
EUROPE – The case for investing in natural resources related equities rather than direct commodity investment was made by Charlie Ober, natural resources portfolio manager at US asset manager T Rowe Price.
