All IPE articles in October 2006 (Online) – Page 5
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News
Hampshire appoints seven new managers, looks into hedge funds
UK – The £2.5bn (€3.7bn) Hampshire County Council Pension Fund has completely overhauled its management structure. In a move from multi-asset to specialist managers it has re-appointed three of the old managers and awarded mandates to seven new managers.
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Watsons advises on €1.3bn of mandates in Germany
GERMANY – Watson Wyatt’s investment consulting arm in Frankfurt says it has advised institutional clients on €1.3bn worth of allocations to asset managers since opening its doors about a year ago.
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ABP to increase hedge fund exposure
NETHERLANDS – The €200bn ABP pension fund of the Dutch civil servants will further raise its exposure to hedge funds in the future, Edwina Neal, CIO of equities at ABP, said at the Hedge 2006 conference in London. No details were disclosed but the exposure “will rise” she confirmed to ...
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MEPs, industry gather to discuss portability
EUROPE - The European Commission's proposed directive on pensions portability is to be discussed by the European Parliamentary Pensions Forum at a meeting in Brussels tomorrow.
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Fund managers now using cash - Merrill survey
GLOBAL - Investors are putting their cash back to work, following the 25% fall in the oil price, said Merrill Lynch’s David Bowers when presenting the findings of the firm’s October fund manager survey.
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Dutch associations call for governance principles
NETHERLANDS - The three Dutch pension associations have asked Social Affairs minister Aart Jan de Geus to introduce the principles for pension fund governance and the participation covenant as of January 1 2008, as initially agreed.
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Dutch painters award €450m to Theodoor Glissen
NETHERLANDS – A&O Services, which runs the €3.2bn Dutch painters pension fund BPF Schilders, has awarded a €450m pan-European equity index mandate to private bank Theodoor Glissen.
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UK sets €1bn pension protection levy ceiling
UK – The UK government has set the Pension Protection Fund levy ceiling at £718.75bn (€1.07bn) for next year.
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Deutsche names successor to fund head Benkner
GERMANY – Deutsche Bank has appointed Klaus Kaldemorgen to succeed Axel Benkner as head of its retail fund arm DWS and as such, the de-facto number-two in the bank’s global asset management business.
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Put third of assets into hedge funds, Myners says
GLOBAL – The average pension fund should invest 25%-35% of its assets in hedge funds, says Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government.
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Allianz to launch pan-European pensions
EUROPE – Allianz will launch a new pan-European pension fund offering later this year, the German insurer and financial service provider announced today.
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Pension bond switch “fundamentally flawed” – KPMG
UK – The idea that UK defined benefit pension funds will be able to switch out of equities and into long-dated fixed income to cut risk is fundamentally flawed, according to KPMG.
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New Danish construction pension set up
DENMARK – PensionDanmark and the Danish construction industry association Dansk Byggeri have teamed up to offer a new pension product.
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IPE-QUEST: Scandinavian fund tenders high yield
SCANDINAVIA - A Scandinavian pension fund has tendered an initial $50m (€39.9m) in euro-zone high yield debt via IPE-Quest.
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Wiltshire fund tenders following review
UK – The £1bn (€1.48bn) Wiltshire County Council Pension Fund is tendering for pension investment services representing a total of up to £525m in active currency, unconstrained global equity and long-short equity.
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RREEF nabs Coca-Cola UK real estate brief
REAL ESTATE - RREEF will run the real estate element of the Coca-Cola Enterprises Pension Scheme.
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Nedlloyd scheme transfers real estate portfolio
REAL ESTATE - Delta Lloyd Vastgoed will take over the direct real estate portfolio of the Nedlloyd Pension Fund, both parties have announced.
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Fortis Investments names Rake as COO
BELGIUM – Fortis Investments, the asset management arm of the Fortis group, has nabbed Deutsche Asset Management’s Keith Rake to become its new chief operating officer and member of the executive committee.
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British Airways pension fund sells property
UK – A British Airways pension fund has sold a retail property in Stoke, central England, for £14.3m (€21.3m), according to a release.
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MN Services names fixed income head
NETHERLANDS - Pensions provider MN Services has appointed Hans Copini as head of fixed income.
