All Alternatives articles – Page 149
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News
Sweden’s AP1 to look at hedge funds
SWEDEN – The 139 billion-crown (15.2 billion-euro) Swedish buffer fund Första AP-fonden says it plans to research hedge funds.
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PGGM sees problems with new reference framework
NETHERLANDS - Dutch health care and social workers’ pension fund PGGM has said there are problems within the agreed one-year recovery decided in the new financial reference framework, Financieel Toetsingskader.
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BNP Paribas buys Zurich hedge business
FRANCE – BNP Paribas Asset Management says it has agreed to buy the Javelin fund of hedge funds business from Zurich Financial Services’ ZCM Investor Capital arm.
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State Street Ireland hires Goldman’s Nangle
IRELAND – State Street has hired Goldman Sachs Asset Management’s Gavin Nangle to be head of business development in Ireland.
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UK’s Clwyd adds hedge fund exposure in revamp
UK – The 550 million-pound (834 million-euro) Clywd Pension Fund says it has broadened its hedge fund exposure in a “major review” of its investment managers.
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MSCI to buy risk software firm Barra for E675m
GLOBAL - Morgan Stanley is to buy risk management analytics firm Barra for 816.4 million dollars (675.3 million euros) in cash and integrate it with its majority-owned MSCI index business.
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Railpen chief executive Peter Murray to retire
UK – Peter Murray, chief executive of the 13 billion-pound (19.5 billion-euro) Railway Pension Trustee Company, is to retire in May.
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Ireland’s NPRF earns millions from stock lending
IRELAND - Ireland’s National Pension Reserve Fund earned more than four million euros from stock lending and brokerage commission recapture in 2003, according to the National Treasury Management Agency.
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IBM likely to use new Irish common fund
IRELAND - Computer giant IBM is likely to become one of the first multinational companies to use the common contractual fund (CCF), Ireland’s new tax transparent pooling vehicle, to pool its pension funds’ global equity assets.
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New EU countries need “prudent person” – ADAM
EUROPE – New European Union countries in central and eastern Europe need to lift investment restrictions and implement the “prudent person principle”, Allianz Dresdner Asset Management says.
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Features
Liquidity and risk transfer
Is there – in reality – something that can be called a hedge fund with defining characteristics? If so do they apply to everything that are now called hedge funds? Hedge fund activities are very broad. They have characteristics that are defining such as they sell securities short as well ...
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Features
How PTPE tracks private equity
Investment companies listed on the stock market are generally regarded as high-risk, and in the stock-market crash some total failures attracted much publicity. In addition, some large companies, such as 3i, Softbank and Jafco, are well-known. But even experts in the field know little more about global connections in this ...
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Features
Currency overlay
Pension funds and institutional investors have been globalising their portfolios for many years, yet a majority of these investors have typically ignored the currency risk inherent in these investments. For example, euro-based investor with US assets has seen a reduction in returns from investing in the US since 2001 (close ...
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Features
Beating the drum for overlay
With my recent relocation to Japan, I have been contemplating the challenges, risks, idiosyncrasies and opportunities of that greatest of financial games: ‘global asset allocation’. From the gleaming towers of Tokyo to the ‘square mile’ of London and the skyscrapers of Wall Street, one thing seems clear: after a decade ...
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Features
Currency alpha
Active currency management is providing alpha, according to a new study by Russell/Mellon CAPS. The study showed that 87% of currency overlay accounts generated positive excess returns over the past five years. The percentage was even higher in US$ accounts where 93% of accounts produced positive returns. The Russell/Mellon CAPS ...
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Features
'Add return - reduce risk'
Increasing accounting and regulatory pressures on UK pension funds will compel them to at least consider including currency management in their investment strategy, according to James Binny, director of FX analytics and risk advisory at ABN Amro. Pressure is likely to come from the new accounting standard, FRS 17 and ...
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News
Denmark’s FSP awards E41m to Russell
DENMARK - The 16 billion-crown (2.21 billion-euro) pension fund of the Danish financial sector, Finanssektorens Pensionskasse has awarded two equities and a hedge fund- of-funds mandates to Russell.
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Goldman's asset mgmt revenues rise 67%
GLOBAL – Goldman Sachs’ asset management division has posted a 67% rise in revenues in the first quarter.
