All IPE articles in September 2006 (Online) – Page 6
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Norwegian Global fund reviewing strategy
NORWAY – The NOK1.5trn (€180bn) Norwegian Government Pension Fund is reviewing its “low return volatility” investment strategy, says the central bank.
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BTPS equity exit not a bearish signal - Hermes
UK – The BT Pension Fund’s ditching of about a third of its £9.7bn (€14.3bn) UK equity portfolio in favour of alternative investments is “not a bearish signal”, according to fund manager Hermes.
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Sweden: pensions low on agenda post-election
SWEDEN - The election victory for the centre right alliance under Fredrik Reinfeldt will have no immediate implications for pension funds, say analysts and pension fund representatives.
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BaFin chief Sanio under scrutiny in fraud probe
GERMANY – Jochen Sanio, president of German financial services regulator BaFin, could be forced to step down following a report by the auditor PWC that found instances of fraud and gross mismanagement at the regulator.
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BankPension awards European equity mandate
DENMARK – The DKR11.4bn (€1.52bn) BankPension, an industry-wide pension fund for employees in the finance sector, will award a Los Angeles-based fund manager with a $10m European equity portfolio.
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MLP takes control of FERI Finance
GERMANY – Independent financial advisor MLP has taken a controlling stake in Feri Finance, the holding company of German investment consultant Feri Institutional Advisors (FIA).
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Warwickshire to put 10% into alternatives
UK - Warwickshire County Council has tendered for up to £100m (€148m) in real estate and fund of hedge funds for the £1bn Warwickshire Pension Fund.
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Pension statements could shock – Mercer
UK - Occupational pension scheme members could be in for a shock when they receive statements explaining the funding position of their scheme this week, says Mercer Human Resource Consulting.
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Netherlands sticks with two pension regulators
NETHERLANDS – The Dutch pension system will still be supervised by De Nederlansche Bank (DNB) and the Autoriteit Financiële Markten (AFM), according to the government.
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BNP Paribas AM names new CIO
EUROPE – BNP Paribas has named Credit Agricole’s Christian Dargnat as its new chief investment officer.
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Lehman unveils LDI indices
GLOBAL – Global investment bank Lehman Brothers has announced the launch of two new swap indices which could help facilitate liability driven investing.
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ATP planning US real estate investment
DENMARK – The DKK371.5bn (€50bn) Danish supplementary pension scheme ATP is looking at real estate investments in the US.
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Watson Wyatt’s de Maar joins Dutch doctors’ fund
NETHERLANDS – Watson Wyatt’s Stefan de Maar in an unusual move has switched from investment consulting to join the Dutch €11.7bn Doctors Pension Funds Services (DPFS).
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USS in central Europe real estate move
EUROPE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it central European real estate holdings.
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Capital Group takes 5% of Commerzbank
GERMANY – US fund manager Capital Group has disclosed a 5.03% shareholding in Commerzbank, making it the German bank’s second largest shareholder after Italian insurer Generali, which has 8.6%.
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Henderson buys infrastructure firm Laing
UK – Henderson has had a £886.9m (€1.3bn) offer to buy infrastructure and construction firm John Laing accepted.
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Dutch institutions enter hedge fund debate
NETHERLANDS – Dutch institutional investor organisation Eumedion, representing some €800bn of assets, has demanded that Stork’s majority shareholders and activist hedge funds Centaurus and Paulson take a clear position on the Dutch industrial group.
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Bosch CFO mulls pan-European pension fund
GERMANY – Gerhard Kümmel, chief financial officer of German auto component maker Robert Bosch, has signalled the firm may create a pan-European pension fund out of its existing German Pensionsfonds.
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Dutch union eyes pension fund for self-employed
NETHERLANDS - The largest Dutch trade union FNV has stated it wants to set up a new defined contribution pension fund for self-employed people and small businesses.
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Morgan Stanley asset management earnings slump
GLOBAL – Third-quarter profits at Morgan Stanley’s asset management division fell by 23% although assets under management rose 5%.
