Markets – Page 237
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AP3 tenders for risk system
SWEDEN – Tredje AP-fonden, the SEK175.8bn (€18.9bn) Third National Pension Fund, has started looking for new risk analysis solutions.
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Russell predicts new alternative investing highs
GLOBAL – Hedge fund use by European institutions has increased dramatically in 2005. Their use by continental respondents to the Russell Investment Group’s seventh annual report on alternative investment the doubled to 48% from 24% in 2003.
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Threadneedle names UK institutional head
UK – Threadneedle Investments has named Madeline Forrester as its new head of UK institutional business, effective immediately.
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Multek awards pensions brief (Correct)
GERMANY – State Street Global Advisors(SSGA) has just been awarded a multi-asset pensions mandate by the German branch of the multinational company Multek, based in Boeblingen, Germany (Clarifies pensions).
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KAS releases buoyant half-year figures
NETHERLANDS – KAS Bank has reported a €3.9mn increase in commission in the group’s half-year figures released today - an 11.5% increase on the same figures in 2004.
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IPE publishes Top 1000 European Pension Funds
EUROPE – Investment & Pensions Europe has published Europe’s Top 1000 for 2005, a listing of the largest schemes in Continental Europe and the UK.
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Dutch rail scheme SPF hires PGGM’s Varkevisser
NETHERLANDS – The €10.4bn Dutch railway pension scheme SPF has just appointed PGGM’s Jan-Theo Varkevisser as portfolio manager for fixed income and the treasury.
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Robeco sees “disappointing” asset inflow
NETHERLANDS – Robeco, the asset management arm of Rabobank, had a disappointing inflow of new assets in the first half of the year – hit by US outflows.
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Petercam hit as multinationals revamp mandates
BELGIUM – The globalisation of pension funds by multinational companies cost Petercam Asset Management two to three mandates over the past year.
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AXA Rosenberg bags €98.3m Shropshire brief
UK - AXA Rosenberg says it has won a European ex-UK equities mandate worth €67m (€98.3m) from the Shropshire County Pension Fund.
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UK’s BBC drops DeAM for NewSmith
UK – The BBC says its £6.4bn (€9.4bn) pension scheme has dropped Deutsche Asset Management in favour of NewSmith due to an underperformance on investment targets.
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IPE-QUEST: European fund tenders Japan equities
EUROPE – A European pension fund has tendered up to $100m (€80.2m) in Japanese large-cap core equities via IPE-Quest.
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Mellon had talks with State St., Northern – WSJ
GLOBAL – Mellon Financial Corp. has had informal talks about a possible custody combination with State Street and Northern Trust, the Wall Street Journal has reported.
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Citigroup in German hedge fund move
GERMANY - The German investment arm of Citigroup has teamed up with a German and an Austrian private bank to launch one of Germany’s first single hedge funds.
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DWS/DeAM get new Swiss sales head
SWITZERLAND - Tim Koevenig has been named head of sales for Switzerland at Deutsche Bank's retail and institutional asset management arms DWS and DeAM.
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AMF Pension names Björkén to fixed income role
SWEDEN – AMF Pension has rejigged its fixed income management, with Bengt Björkén become acting head of fixed income and Lars Aberg taking an ALM role.
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IPE-QUEST: Two new searches
EUROPE – There are two new searches, for Asia-Pacific equities and pan-European real estate, on IPE-QUEST.
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Dutch real estate boost seen amid FTK, ageing
NETHERLANDS - The ageing of the population, and the new financial assessment framework, or FTK, will lead to a considerable increase of pension funds’ investments in real estate, says the Dutch weekly Beleggers Belangen.
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AP3 eyes more portfolio diversification
SWEDEN – Tredje AP-fonden, the Third National Pension Fund or AP3, says it plans more diversity in its portfolio – including areas such as emerging markets, international real estate and infrastructure.
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German pensions market taking off – Allianz
GERMANY - Allianz Leben, the life insurance arm of Allianz that is a major provider of German corporate pensions, has provided more evidence that the market is – at least for insurers – beginning to take off.
