Markets – Page 283
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IKA considers external managers for e1.8bn
GREECE- Greece’s largest pension fund, the Social Security Foundation (IKA), is considering the use of external investment managers to manage E1.8bn of its assets.
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East Riding issues RFP for £200m overseas mandate
UK – The £1.3bn (€2.1bn) East Riding of Yorkshire Pension Fund is looking for asset managers to run a £200m active overseas mandate. The pension fund is looking to appoint up to three managers to take care of the portfolio which contains European, Japanese and North American equities. Its current ...
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Robeco to acquire Transtrend in alternatives push
NETHERLANDS – Rotterdam-based asset management group Robeco is to acquire Transtrend, a hedge fund manager and futures trading company, as part of its strategy to expand into the alternative investment market, particularly in the area of single-manager hedge funds.
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Mediafond issues RFP for its assets
ITALY – Mediafond, the supplementary pension fund for workers in Italy’s private radio, television and media sectors, has put out an RFP for managers for its assets.
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Schemes' UK equity holdings lowest since 1983
UK- Holdings in domestic equities by UK pension funds has fallen below 50% for the first time since 1983 according to the 2001 Russell/Mellon CAPS pension fund survey. The 1651 UK funds surveyed by Russell/Mellon held an average of 47.4% of their assets in UK equities, down from 51%at the ...
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Austrian Government slated over Abfertigung plans
AUSTRIA- Austria’s pension funds and insurers have attacked the government’s plans for administering the Abfertigung neu, the reformed severance pay system, as costly and unnecessary.
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SEI names head of third party distribution Europe
UK/EUROPE- Multi manager SEI has appointed Alejandro Kerschen as managing director of European partnerships, responsible for SEI’s third party distribution in Europe. Kerschen will report to Joe Ujobai, managing director of SEI’s business in Europe
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Schroders names new head for Sweden and Finland
SWEDEN/FINLAND- Schroder Investment Management has appointed Johan Hamilton as country head for Sweden and Finland. Hamilton, who will be based in Stockholm, joins from Wassum Investment Consulting where he was a senior consultant advising pension funds, trusts, companies and local governments on investment strategy and manager selection.
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UK managers reluctant to drop soft commissions
UK – The Investment Management Association (IMA) and the National Association of Pension Funds (NAPF) have drawn up a pension fund disclosure code to be unveiled this week that will require fund managers to provide six-monthly reports on the way they invest UK pension scheme assets on stock markets.
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Allianz Dresdner announces European equities CIO
UK/GERMANY- Allianz Dresdner Asset Management (ADAM) has announced the appointment of Neil Dwane as head of its equity investment teams in Frankfurt and London. Dwane is relocating to Frankfurt where he replaces Jens Wilhelm who is leaving for a hedge fund group.
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German funds see rebound in January
GERMANY – German investment funds open to the public pulled in investments of €10.2bn in January, according to the Frankfurt-based BVI, the German federal asset manager association. The BVI says that this is a good start to the year.
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Fidelity aims ‘long’ bond fund at pension funds
UK – Independent fund management group, Fidelity Investments has launched a new UK long corporate fixed income fund, in response to what it claims is a growing demand for the asset class, particularly among small to mid-sized pension funds.
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Regional Italian fund in US assets manager search
ITALY – The €77m Laborfonds, the complementary pension fund for workers of companies registered in the Trentino Alto Adige region of Northern Italy, is looking for managers for a US equity and fixed income mandate.
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Euro funds manage slight rise in assets in 2001
EUROPE – Renewed interest among European investors in equities led to an increase in the total assets of UCITs and other nationally regulated investment fund markets of 8.3% during the fourth quarter of 2001, bringing the year end total to €4,594bn...
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Portugal's FEFSS prepares to outsource e760m
PORTUGAL- Portugal’s state owned e3.8bn FEFSS fund is looking for a global custodian in preparation for its recent decision to outsource 20% of its e3.8bn portfolio to external managers. Henrique Cruz, a member of the fund’s board says they will select a global custodian by March to provide fund administration ...
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Spezialfond manager results show turbulent 2001
GERMANY- Germany’s Spezialfonds and their managers faced one of the toughest and most turbulent years in 2001 when the value of assets fell for the first time since the creation of the funds in the late 1960s.
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Concreto enters second phase of manager selection
ITALY – The Italian cement and building materials workers’ complementary pension fund, Concreto, is ready to enter the second stage of its manager selection process.
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FIS launches first corporate bond funds
UK- Investment manager Friends Ivory & Sime (FIS) has announced the launch of two new corporate bond funds. The All-Stocks fund will aim to outperform Merrill Lynch’s All-Stocks Sterling corporate bond index by 1% per annum measured over rolling 3 year periods while the Long-Dated fund will seek to outperform ...
