All articles by Barbara Ottawa – Page 124
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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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AP6 sees €16m in convertible bond deals
SWEDEN – The convertible bond product the Swedish buffer fund Sjätte AP-fonden, AP6, launched in January this year has been a success. Ideas for more product launches are being considered.
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EU to look into French postal pension scheme
FRANCE – The European Commission will start an “in-depth investigation” into whether planned changes to the French pension scheme for public sector postal workers employed by La Poste will give the company an advantage over its competitors.
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Institutions become more active - NAPF
UK – Large pension funds are taking a more proactive approach to engaging with companies to maximise returns for scheme members, a new research by the National Association of Pension Funds (NAPF) reveals.
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Portugal agrees pension reform
PORTUGAL – Portuguese state pensions are going to be indexed to the country’s economic performance and life expectancy under new reform plans.
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Institutional interest in hedge funds ‘to grow’
GLOBAL – Institutional flow into the hedge fund market will triple by 2010 to reach $1trn (€0.8trn), but only if returns continue to justify fees and higher risks and if managers can provide the quality demanded by institutions, according to new projections.
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Which London fund sues BP?
UK – Confusion about exactly which London pension fund is taking oil giant BP to court over alleged negligence has, hopefully, been cleared up.
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Leicestershire tenders targeted returns
UK – The £1.9bn (€2.8bn) Leicestershire County Council pension fund is looking for a targeted or absolute return manager to invest 5% of its portfolio.
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Mercer launches multi-manager business in Europe
EUROPE – Mercer Global Investments (MGI) has formally launched its European multi-manager business from its Dublin office. At first it will target the UK and Ireland but it will seek to expand to continental Europe.
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Ireland’s NPRF re-awards €6bn passive mandates
IRELAND – The €17.5bn National Pensions Reserve Fund has re-awarded €6bn in two passive equity mandates to the incumbent managers Bank of Ireland Asset Management/State Street Global Advisors and Barclays Global Investors.
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Hedge funds past their peak, says UK’s Field
UK – Former UK pensions minister Frank Field reckons the best days of hedge funds are over.
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Swiss schemes’ first-half returns barely positive
SWITZERLAND – In the first half of 2006 a sample of Swiss pension funds achieved a net overall performance of just under 0.6%, against 5.6% a year before.
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Big European funds: ‘We want skilled managers’
EUROPE – Some of Europe’s largest pension funds have acknowledged that the search for alpha – market outperformance - is a search for skills.
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Gwynedd scheme to put 5% into private equity
UK – The £741m (€1.1bn) Gwynedd council pension fund is looking to invest in private equity via fund of fund managers to help address its £129m deficit.
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Schroders nabs ex-BIS asset management head
UK – Guy Henriques has been appointed as head of official institutions at Schroders. He joins from the Bank of International Settlement (BIS) where he had been head of asset management.
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UK MPs’ scheme to invest in hedge funds
UK – The around £280m (€414m) Parliamentary Contributory Pension Fund of the House of Commons is looking to award an £8m mandate to a fund of hedge fund manager.
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Islington refutes allegations of bad investment
UK – The £635.6m (€936m) Borough of Islington pension fund has denied union claims that its £131m deficit was caused by bad investment decisions.
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Dutch painters tap MLIM for swaps
NETHERLANDS – A&O Services, which runs the €3.2bn Dutch painters pension fund BPF Schilders, has chosen Merrill Lynch Investment Managers to implement a €1.4bn swap and swaptions overlay programme.
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Report critical of UN fund’s real estate risk
GLOBAL – The United Nations’ internal watchdog has criticised the body’s $33bn pension fund for having a high risk exposure in its real estate portfolio.
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Hermes in clear; Clements runs hedge fund
GLOBAL - It’s emerged that Robert Clements, the former Hermes manager at the centre of the firm’s now resolved stock manipulation allegations in Korea, is now running an Israel-based hedge fund.
