All Alternatives articles – Page 120
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Features
Behind the curve
September was a good month for funds of funds all round, with the Eurekahedge indices returning upwards of 1% across almost all strategies and regions. The month saw a departure (positive) from August’s shallower returns, and a return to the more robust pre-August rising trend. The Eurekahedge Global Fund of ...
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Features
Basque fund develops venturesome role
Geroa EPSV is a defined contribution pension fund which was set up to complement the Spanish state pension scheme. It covers employees in Gipuzkoa, one of the three provinces making up the Basque Country region. The fund has 100,000 contributing members and is currently worth about €500m. Geroa was started ...
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Features
Negative times here again
Against a backdrop of lacklustre performance in almost all markets (eg, stocks, bonds and commodities), and more generally, of a decline in the risk appetite of investors, all hedge fund strategies performed negatively in October, for the first time since April. Unsurprisingly, the strategies most harshly hit by the fall ...
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News
20% of UK schemes invest in hedge funds - NAPF
UK – Around one in five large UK pension funds have some exposure to hedge funds, the National Association of Pension Funds says.
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Sweden's AP2 names new chief executive
SWEDEN – Andra AP-fonden, the SEK173bn (€18.2bn) Second Swedish National Pension Fund or AP2, has appointed Eva Halvarsson as chief executive.
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SEI sees 25% European growth
EUROPE – SEI, the US-based multi-manager fund provider, expects to grow its business in Europe by 25% annually, with nearly all of that growth taking place in the UK, its managing director for Europe says.
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Horeca in €100m private equity move
NETHERLANDS - The €2bn Dutch hotel and catering scheme, Pensioenfonds Horeca en Catering, has awarded two €50m private equity mandates to Goldman Sachs Private Equity Group and HarbourVest Partners.
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Demand for Germany’s Riester pensions surges
GERMANY – Demand for the Riester-Rente, a government-subsidised private pension launched in 2002, has increased dramatically this year, the German finance ministry has reported.
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IPE-QUEST: North American equities tendered
DENMARK - Kirstein Finans has tendered around $100m (€85.4m) in active North American small/mid-cap equities via IPE-Quest.
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CEIOPS rules out separate pensions committee
EUROPE – CEIOPS chairman Henrik Bjerre-Nielsen has ruled out the need for a separate EU committee on pensions – despite the group’s current focus on the Solvency II project for the insurance industry.
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IPE-QUEST: Danish fund tenders EM debt
DENMARK – Kirstein Finans has tendered around €70m in global emerging market debt for a Danish pension fund via IPE-Quest.
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IMA says pension pooling at stalemate
UK – The Investment Management Association says pension pooling is stuck in “something of a stalemate”.
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Ireland’s NPRF starts private equity programme
IRELAND – The €14.5bn National Pension Reserve Fund has initiated its new investment programme with a €75m private equity commitment with independent buy-out firm CVC Capital Partners.
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Institutions pull €1.8bn from Schroders
UK – Schroders plc says it lost a net £1.2bn (€1.78bn) in institutional assets under management in the three months to the end of September – although asset management profit and revenue were both up.
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News
EU pensions committee eyes hedge fund role
EUROPE – The European pensions supervisory committee CEIOPS wants to serve as a focus for debating issues that impact occupational pension supervision from other sectors, such as hedge funds.
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Nestlé seeks pensions risk manager
UK – Nestlé is looking for a risk manager with experience in hedge funds to offer services, including the management of assets and liabilities, to its pension funds.
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Buckingham cuts Capital mandate in revamp
UK – The £874m (€1.3bn) Buckinghamshire Pension Fund has cut Capital International’s equities mandate by just over 20% due to poor performance results, and appointed five new fund managers.
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Report denies UK pensions crisis
UK - Britain does not face a pensions crisis, nor does it have a savings gap that needs closing, a business-led think tank has said.
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Italian pension funds agree merger
ITALY – Fonchim, Italy's industry-wide chemical and pharmaceutical industry pension fund, is acquiring the Bayer Italia pension fund (Fpbi), the Italian unit of the German chemical firm Bayer.
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News
Irish fund servicing industry closes on $1trn
IRELAND – Irish-serviced funds grew 23% over the past year, topping $950bn (€785bn) as at 30 June 2005, according to Lipper Fitzrovia’s 11th annual Dublin Fund Encyclopedia.