All Alternatives articles – Page 109
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News
CalPERS names asset allocation consultants
GLOBAL – The California Public Employees’ Retirement System (CalPERS), the $210bn (€163.8bn) public pensions giant, has “tentatively” selected contractors for asset allocation consulting, securities lending services and administration of supplemental savings programmes.
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PPF to appoint specialist fund managers
UK – The Pension Protection Fund will appoint specialist fund managers from next year, according to its new three- year strategic plan.
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Unilever UK scheme taps Mercer for advice
UK – Unilever’s roughly £4.3bn (€6.3bn) UK pension scheme has axed Russell Investment Group as investment consultant in favour of Mercer, scheme chief investment officer Wendy Mayall confirmed today.
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Structured products strong in H1 – BNP Paribas
EUROPE - The first part of 2006 showed very strong growth for structured products, according to BNP Paribas Equities & Derivatives.
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UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
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IPE-QUEST: $300m in fund of hedge funds
GLOBAL – Up to $300m (€237m) in fund of hedge funds is being tendered on IPE-Quest.
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GSAM nabs HSBC’s Cheetham for institutional role
UK - Goldman Sachs Asset Management has hired HSBC Asset Management’s Geoff Cheetham to boost its UK Institutional sales team.
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ABP to sit on new European securities group
EUROPE – ABP, Europe’s largest pension fund, is to have a member on a new securities industry group set up by the European Commission.
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Finland’s Fennia eyes overseas real estate
REAL ESTATE - Public sector scheme Pension-Fennia is to invest €200m – 30% of its real estate allocation – in overseas indirect property amid increasing concerns over potential volatility in the Finnish market. (From iperealestate.com.)
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PGGM appeals against DNB levensloop fine
NETHERLANDS - Dutch health care pension fund PGGM says it will appeal against the fine it received from pension regulator De Nederlandsche Bank over the sale of levensloop, or “life course” products.
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Man Group limits hedge funds in own scheme
UK – Man Group, the world’s largest listed hedge fund group, is limiting the hedge fund allocation in its own pension fund on the advice of Watson Wyatt, says chief executive Stanley Fink.
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European asset managers now run €30trn
EUROPE - Asset managers in the European market saw the assets they manage surge last year to more than €30trn, according to IPE’s calculations, up from last year’s estimate of €26trn when the increase on the year was only €2trn.
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Lancashire tenders €146m in hedge funds
UK - The £3.47bn Lancashire County pension fund has tendered around £100m (€146m) in fund of hedge funds.
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FRR explains reasoning for avoiding hedge funds
FRANCE - The FRR, the €27.7bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has explained why it will not be investing in hedge funds as part of its new strategic asset allocation which features a shift towards 'alternative' assets.
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GSAM gets €11.9bn net inflows
GLOBAL – Goldman Sachs Asset Management gained $15bn (€11.9bn) of net inflows in the second quarter.
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Hewitt considers raising stake in German venture
GERMANY – Hewitt Associates is considering raising its minority stake in the BodeHewitt joint venture it launched almost a year ago with Bode Grabner Beye.
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Lupus alpha hedge fund specialist to leave
GERMANY – Kay-Peter Tönnes, hedge fund specialist at Frankfurt asset management boutique Lupus alpha, is to leave to start his own business.
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ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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Nordrheinische doctors fund taps GSAM for GTAA
GERMANY – Nordrheinische Ärtzeversorgung (NAEV), a €7.5bn pension fund for physicians, has awarded Goldman Sachs Asset Management a global tactical asset allocation mandate worth €60m.
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City of Westminster axes Henderson, Aberdeen
UK – The roughly £600m (€871m) City of Westminster pension fund has axed Henderson Global Investors and Aberdeen Asset Management following a scheme restructure.
