Markets – Page 256
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BA funds to mull opening to external funds
UK - The £9bn (€13.6bn) internally-managed British Airways pension schemes are considering whether to open to third parties, and Hermes Pensions Management has said it would look at investing in them if this happened.
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Petroleum Fund chief explains pay structure
NORWAY – The head of the 915.3 billion-crown (110 billion-euro) Petroleum Fund has outlined how the scheme’s employees who manage investment mandates are compensated – and signalled a move to more external managers.
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IPE-QUEST: Institution tenders more than E331m
EUROPE - An institutional investor with offices in continental Europe has tendered more than 400 million dollars (331 million euros) in four equities briefs via IPE-Quest.
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Philips pension arm Schootse Poort changes name
NETHERLANDS – Schootse Poort, the manager of Koninklijke Philips Electronics’ 12.5 billion euros in pension assets, has changed its name to Philips Pensions Competence Center.
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AP7 names new fund management head
SWEDEN - The five billion-euro Sjunde AP-fonden, the seventh Swedish national pension fund, has hired ABN Amro’s Fvante Linder as head of fund management.
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IPE-QUEST- Belgian fund tenders hedge funds
BELGIUM - A Belgian pension fund has tendered a 25 million-euro hedge fund mandate for up to three managers via IPE-Quest.
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IPE-QUEST: German fund tenders small-caps
GERMANY - A German pension fund has tendered a 50 million-euro actively managed pan-European core small-cap equities mandate through IPE-Quest.
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Jobs go as HP outsources Dutch scheme to Hewitt
NETHERLANDS - Hewitt Associates’ Dutch arm is to administer the 450 million-euro Hewlett-Packard Netherlands pension fund, the fund’s administrator said.
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IPE-QUEST: Insurer tenders Chinese equities
EUROPE – A Continental European insurance company has tendered a 200 million-dollar active Chinese equities mandate via IPE-Quest.
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AP3 names European mid- and small-cap managers
SWEDEN – The 140 billion-crown (15 billion-euro) Tredje AP-fonden Swedish buffer fund has appointed five managers to run mid- and small-cap European equities.
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French reserve fund awards E4bn to managers
FRANCE - The 16 billion-euro French Reserve Fund, Fonds de Reserve pour les Retraites, has concluded its second round of appointments, naming 12 managers to run 4.12 billion euros.
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IPE-QUEST: Irish insurer tenders E100m
IRELAND - An insurance company has tendered an actively managed balanced mandate worth in excess of 100 million euros through IPE-Quest.
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J P Morgan names transition management head
EUROPE – J P Morgan says it has hired John Minderides from ITG to be head of its transition management business in Europe, the Middle East and Africa.
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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.
