Markets – Page 219
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Hymans sees shift to global equities, bonds
UK – The UK’s 50 largest fund managers saw an increased shift from UK equities to fixed income and global equities in 2005, according to an annual survey by Hymans Robertson.
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ECB says benchmarks may lead to herding
EUROPE – Institutional investors using benchmarks in managing their portfolios may lead to herd behaviour – and problems for monetary policy - says the European Central Bank.
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IPE-QUEST: Nordic insurer in high-yield RFI
NORDIC – A Nordic insurance company has issued a request for information (RFI) for global high-yield debt via IPE-Quest.
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Transaction cost analysis product launched
UK - An enhanced transaction cost analysis product aimed at UK pension funds has been launched by TradeShare.
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Morgan Stanley IM names alternatives chief
GLOBAL – Morgan Stanley’s prime broker heavyweight and hedge fund specialist, Stu Bohart, has been appointed chief of alternative investments at Morgan Stanley Investment Management.
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Mn Services names equities director
NETHERLANDS - Dutch fiduciary management firm Mn Services has named Patrick Wierckx as director of equities.
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Blue Sky wins €150m Air UK business
UK – Blue Sky Group, which manages the pension assets of KLM, it to run assets of a UK scheme affiliated to the Dutch airline.
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Swiss schemes still cutting domestic securities
SWITZERLAND – Swiss pension funds have continued to cut their allocation to domestic bonds and equities, according to a report from Credit Suisse.
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ATP makes €470m from hedging
DENMARK – ATP, Denmark’s largest pension fund, made a profit of DKK3.5bn (€469.6m), from its hedging activities in the first quarter of 2006.
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French reserve fund grows to €28bn
FRANCE - The FRR, the Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has grown to €28.1bn after making a 4.3% return on assets in the first quarter.
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Espoo to recruit six fund managers
FINLAND - Finnish city, Espoo, is scouting for investment teams to manage a new €364m fund being created.
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BlackRock reviewing MLIM name
GLOBAL – BlackRock is reviewing the Merrill Lynch Investment Managers product brand name just months after absorbing it.
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Swiss SRI boosted by pension funds – study
SWITZERLAND – Pension funds have been the main reason why Switzerland’s socially responsible investment (SRI) volume has more than doubled since 2001, a new study claims.
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Dutch government denies FTK delay
NETHERLANDS – A spokesperson for the Dutch social affairs ministry has flatly denied market rumours that the new Financial Assessment Framework for pension funds had been delayed again.
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Crédit Agricole AM mulls US acquisition - CIO
FRANCE - Crédit Agricole Asset Management is considering an acquisition in the US, according to chief investment officer Pascal Blanqué.
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CalPERS names ex-DeAM’s Read as CIO
GLOBAL – The California Public Employees' Retirement System has appointed former Deutsche Asset Management deputy chief investment officer Russell Read as CIO of the $208bn (€169bn) public pension scheme.
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Austria: asset management degree offered
AUSTRIA – An advanced technical college in Vienna is offering a new master of science degree for quantitative asset management from this autumn.
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AP4 to go passive for emerging markets
SWEDEN – The SEK180.2bn (€19.2bn) Fourth Swedish National Pension Fund, or AP4, is “likely” to use a passive rather than active approach when it invests 3% of its assets in emerging market equities.
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Slovenia pension manager KAD reports profit
SLOVENIA – The supervisory board of the state-run €1.18bn Pension Fund Management, or Kapitalska Druzba (KAD), has reported a SIT15bn (€62m) net profit result for 2005.
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ABP data used in analysis of equity trade costs
NETHERLANDS – A paper prepared by staff at the Dutch central bank and civil service pension fund ABP has found that a small number of trades causes most market impact.
