Markets – Page 238
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Investment funds enjoy boom - Feri
EUROPE – Investment funds in Europe are having a boom year, with the total inflows by end of May of €151bn already ahead of the total invested in all of 2004 of €133bn, according to latest figures from Feri Fund Market Information in London.
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IPE-QUEST: €10.6bn fund tenders hedge funds/TAA
EUROPE - A $13bn (€10.6bn) European pension fund has tendered for up to five global macro hedge fund/tactical asset allocation (TAA) overlay managers via IPE-Quest.
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The balanced mandate is back, industry says
UK – The traditional balanced mandate appears to be making a return, albeit under a new guise, according to investment consultants and asset managers.
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Denmark’s PKA grows to more than €13bn
DENMARK – Pensionskassernes Administration, the third largest pension provider in Denmark, says its first-half return of 12.1% has taken its market value to more than DKK100bn (€13.3bn).
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Union Investment unveils private pension
GERMANY - Union Investment says it's the first asset manager in Germany to rollout a private pension targeted at pensioners and others above the age of 55.
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BNP Paribas longevity bond gets no takers
GLOBAL – BNP Paribas says it has not had enough investor interest in its so-called longevity bond for UK pension schemes.
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UK schemes ‘taking €43bn from equity market’
UK - Mercer Investment Consulting says UK pension funds are taking around £30bn (€43.6bn) a year out of equities.
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IPE-QUEST: European scheme tenders up to €150m
EUROPE – A European pension fund has tendered up to €150m in euro zone large-cap core equities via IPE-Quest.
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VW pension managers exit amid probe
GERMANY – The resignation today of Volkswagen’s human resources head Peter Hartz follows that of VW’s Pension Trust director Helmuth Schuster amid a bribery investigation.
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Analysts welcome Deutsche Asset Management exit
UK - Deutsche Bank watchers have welcomed this morning’s announcement that virtually all of Deutsche Asset Management in the UK will be sold to rival Aberdeen, noting that the move gives Deutsche an elegant exit from the business.
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DeAM Germany chief Behrens quits to join Deka
GERMANY – Oliver Behrens, head of Deutsche Asset Management in Germany, is to join the management board of fund provider DekaBank.
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BT scheme eyes commodities by end-2005
UK – The £50bn (€74.2bn) pension scheme of phone firm British Telecom may allocate a “single figure” percentage of its assets to commodities from its equity portfolio by the end of the year.
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Petroleum Fund gets “substantial” oil price boost
NORWAY – The Norwegian central bank says higher oil futures prices have led to a “substantial” increase in the expected value of Petroleum Fund.
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CEIOPS highlights interest-rate volatility
EUROPE – CEIOPS, the European pensions supervisory committee, has highlighted that marking liabilities to market values means that interest rates will become a “real element” in pension fund risk management.
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French reserve fund to invest €600m in SRI
FRANCE - The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has started to select managers for up to six socially responsible investing mandates worth a total of €600m.
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WestLB enters multi-management market
UK - WestAM, the asset management arm of German bank WestLB, has brought in a former director at MM Asset Management in the UK to lead its foray into the multi-management fund business.
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Citigroup exits asset management business
GLOBAL – Citigroup has confirmed it is exiting the asset management business in a $3.7bn (€3.1bn) deal with Legg Mason.
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Henderson names Germany sales head
GERMANY - Henderson Global Investors has named Uwe Diehl to head of sales for Germany and Austria.
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IPE-QUEST: Dutch fund tenders Japanese small-caps
NETHERLANDS – A Dutch consultant has tendered up to two Japanese small cap equities mandates on behalf of a Dutch pension fund via IPE-Quest.
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Watson’s Urwin doubts hedge fund capacity
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the performance of fund of hedge funds is “in doubt” due to a lack of capacity at some of the managers.
