Markets – Page 249
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AP3 fixed income and FX head Nordkvist leaves
SWEDEN – The 142 billion-crown (15.6 billion-euro) Tredje AP-fonden says fixed income and foreign exchange head Lennart Nordkvist is leaving to join Morgan Stanley.
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AP3 names stock exchange president as CEO
SWEDEN – The 142 billion-crown (15.6 billion-euro) Tredje AP-fonden has named Kerstin Hessius, president of the Stockholm stock exchange, to replace Tomas Nicolin as chief executive.
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CSAM names Burgess as Europe equities head
EUROPE - Credit Suisse Asset Management has named Insight Investments' Mark Burgess as global co-head of equities, focusing on Europe and Asia.
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Norway’s Petroleum Fund grows to E111bn
NORWAY – The Petroleum Fund has grown to 915.3 billion crowns (111.2 billion euros), following a return of 2.9% in the first quarter.
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Lancashire awards custody amid wider revamp
UK - The 2.4 billion-pound (3.56 billion-euro) Lancashire County Council Pension Fund says it will appoint ABN Amro Mellon as its custodian.
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ABP plans to allocate 20% to alternatives
NETHERLANDS – Stichting Pensioenfonds ABP says its new strategic asset allocation targets an allocation of 20% to alternative investments such as hedge funds and private equity, adding that avoiding short-term risk is “not on option”.
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Hedge fund market “overheated” - Greenwich
GLOBAL – Greenwich Associates has warned of possible “overheating” in the hedge fund market – driven in part by a flood of pension capital.
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CalPERS says it beats benchmark by over 2%
US – CalPERS has said it returned 29.6% in the one-year period to the end of March, taking its assets to 165.8 billion dollars and beating its benchmark by more than two percent.
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Italy’s Laborfonds taps Franklin Templeton, SGAM
ITALY- The 215 million-euro Laborfonds says it has awarded Franklin Templeton Investments and Societe Generale Asset Management an initial 10 million euros each, in global equities and bonds respectively.
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Italy's Desio taps ABN Amro Mellon for custody
ITALY- Banco Desio has awarded ABN Amro Mellon a non-domestic equities and bonds custody mandate worth in the region of one billion euros.
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Devon taps SSGA for E370m in passive equities
UK - The 1.2 billion-pound (1.78 billion-euro) Devon County Council pension scheme has awarded a 250 million-pound (370.7 million-euro) passive global equities mandate to State Street Global Advisors.
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DeAM names Lees as head of UK equities
UK – Deutsche Asset Management has named Peter Lees as head of UK equities, to replace John Wood who left earlier this month.
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PME awards E500m bond brief to PIMCO
NETHERLANDS – The 14 billion-euro Dutch metals industry pension fund PME, or Pensioenfonds voor de Metalektro, has awarded a 500 million-euro short-term bond mandate to PIMCO.
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Sweden’s AMF unveils two new funds
SWEDEN - AMF Pension Fondforvaltning, the mutual fund unit of life insurer AMF, has launched two new funds.
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Alecta says 90 staff leave in “painful” cutbacks
SWEDEN – Occupational pensions provider Alecta cut 90 jobs in the first quarter, part of what it called a “painful” effort to reduce costs.
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Allianz says it aims to grow AUM by 10%
GERMANY – Allianz says it aims to increase the assets under management at its asset management business by 10% - and that the unit has cut its quarterly loss by around a third.
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IPE-QUEST: German fund tenders high-yield
GERMANY – A German pension fund has tendered around 75 million dollars in actively managed euro zone high yield debt via IPE-Quest.
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ING says institutional AUM rise 4.4%
NETHERLANDS – ING says its institutional assets under management have risen by 4.4% to 131.1 billion euros in the three months to the end of March.
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CalPERS denies hedge fund plan (Update)
(Updates to include CalPERS' denial) US - CalPERS has denied a magazine article saying the fund plans to raise its allocation to hedge funds.
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Iceland's No. 2 fund awards custody to BBH
ICELAND - Iceland's second-largest pension fund, the 133 billion-crown (1.5 billion-euro) Lifeyrissjodur Verzlunarmanna or Pension Fund of Commerce, has awarded custody to Brown Brothers Harriman.
