All articles by Dickon Reid – Page 25
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AP7 delays decision on alternative investments
SWEDEN- Sweden’s e2.6bn AP7 default fund has delayed the decision to allocate a total of $170m (e195m) to hedge funds and private equity. AP7’s board met yesterday to pick alternative investment managers from a shortlist but instead postponed the decision for at least three weeks.
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Blue Sky CIO Ratra quits for new ten Cate venture
NETHERLANDS- Arun Ratra, the chief investment officer at the KLM pension fund’s investment arm Blue Sky, has left to join the consultant Lou ten Cate in a new venture called Pension Factory. Ratra joins as a managing director and is a shareholder in the company.
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AEGON UK adds to its fixed interest team
UK- AEGON Asset Management UK has added to its fixed interest team with the appointment of Stephen Jones as portfolio manager. Jones joins from Britannic where he managed corporate bond investments for institutional and retail funds.
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Hymans launches international consulting practice
UK- Actuarial and consulting firm Hymans Robertson has launched its international consulting practice and announced the appointment of Keith Faulkner as its head.
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BGI considers introduction of SRI
GLOBAL/UK- Barclays Global Investor, one of the world’s largest investment managers, is considering introducing an SRI component into its management approach.
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Growth in global asset management stalls in 2001
GLOBAL- Growth in the global asset management industry virtually ground to a halt last year according to figures from Cerulli Associate’s 2001 report.
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Pickering says UK regulations need simplification
UK- Former chairman of the National Association of Pension Funds Alan Pickering has warned that the UK pension industry needs simplifying in order to encourage occupational pension provision.
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Ernst & Young and Iceland wind up DB schemes
UK- Accountant company Ernst & Young and food retailer Iceland have become the latest in a string of companies to wind up their employees’ defined benefit pension schemes.
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ATL recovers £5.1m from mis-sold pensions
UK- The Association of Teachers and Lecturers has recovered £5.1m for its members who were victims of pensions mis-selling. The ATL says more that 220 teachers have benefited from the money which has been restored to the occupational scheme.
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AIMA says hedge fund transparency lacking
GLOBAL- Research by the Alternative Investment Management Association and Capital Market Risk Advisors into the hedge fund of funds industry suggests that although investors remain wary of investing due to a lack of transparency, hedge fund managers are convinced they are providing enough disclosure.
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AP7 set to blacklist construction company
SWEDEN- Sweden’s AP7 default fund looks set to blacklist NCC, a construction company that has admitted illegal collusion with competitors over tendering for road building projects.
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UK workers 'blissfully ignorant' about pensions
UK- Most of the UK workforce are blissfully ignorant about their pensions and are deluded about the amount they will receive in retirement according to research by MORI.
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SwissAir fund announces complete restructure
SWITZERLAND- SwissAir pension scheme is undergoing a wholesale reorganisation of its four individual funds which has already included the launch of two institutional umbrella funds. Over the next two months it is searching via www.ipe-quest.com for managers to oversee five further sub funds with assets totalling Chf1bn (e680m).
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DC contributions 50% lower than under DB
UK- Average company contribution rates under the increasingly popular defined contribution plans are about half the rate of those for typical defined benefit schemes according to research by the consultant Towers Perrin.
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Hampshire fires Morley and appoints SG
UK- Hampshire county council’s £2.1bn (e3.4bn) pension fund has fired Morley fund management from a £360m (e585m) balanced mandate and replaced it with SG Asset Management.
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US value managers come out on top says S&P
US- US value managers comprehensively outperformed their growth counterparts in the twelve months to last November according to the latest research from Standard & Poor’s.
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Switzerland's AHV postpones hedge fund investment
SWITZERLAND- Switzerland’s ChF19.7bn (e13.4bn) social security fund AHV has delayed investing 5% of the portfolio in hedge funds in order to focus on developing its global equity portfolio.
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Dresdner poaches CSAM's Trevor Green
UK- Dresdner RCM Global Investors has appointed Trevor Green as a director of UK and European equities. Green joins from Credit Suisse Asset Management where he was director of the UK equity team under Steve Goldman.
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S&P and Italian exchange to launch joint index
ITALY- Standard & Poor’s and Borsa Italiana are to launch a new index, the S&P/MIB 45, designed to provide a broader and more accurate representation of the Italian equities market.
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Tories claim £100bn hole in UK occupational funds
UK- The UK Conservative party claims that official government statistics show assets held in occupational pension funds have suddenly fallen by more than £100bn (e164bn).
