All articles by Helen Avery – Page 20
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F&C to outsource institutional admin to Mellon
UK – F&C has announced it is in exclusive discussions to outsource the administration of its 60 billion-euro institutional business to Mellon Global Securities Services...
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Shropshire moves into hedge funds
UK – Shropshire County Council has announced a change in its pension fund benchmark with greater allocation to bonds and the introduction of a hedge fund portfolio.
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Pensions should be compulsory, says UK report
UK - Employer and employee pensions should be made compulsory if the UK’s 27 billion-pound (38.7 billion-euro) pension gap is to be filled, says market analysis firm Datamonitor.
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French pension reforms going right way - OECD
FRANCE – French pension reform initiatives are “going in the right direction” says the Organisation for Economic Cooperation and Development - although more needs to be done to ensure medium and long-term fiscal stability.
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Germany publishes draft hedge fund proposals
GERMANY – The German government has published its draft of the Investment Act which will make hedge funds and hedge funds of funds available to the German retail and institutional investor.
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Global investment fund assets fall 3.8%
GLOBAL – Worldwide investment fund assets fell by 3.8% in the first quarter, according to statistics released by Fefsi.
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ADAM names Luxembourg operating chief
LUXEMBOURG – Allianz Dresdner Asset Management Luxembourg’s new chief operating officer is Jean-Christoph Arntz.
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Staffordshire taps Goldman for asset allocation
UK – Staffordshire County Council has appointed Goldman Sachs Asset Management to run a 970 million pound (1.4 billion euro) asset allocation mandate for its pension fund. The total fund size is 1.3 billion pounds (1.9 billion euros).
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UK's South Tyneside to name new actuary
UK – The two billion-pound (2.9 billion euro) South Tyneside Metropolitan District Council pension fund is to announce the replacement of Watson Wyatt as scheme actuary over the coming week.
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Banco di Napoli fund taps Templeton for US stocks
ITALY – Banco di Napoli’s 1.2 billion-euro employees’ pension fund has appointed Franklin Templeton to manage the US equity portion of its portfolio.
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AP1 tenders $200-300m US small-cap mandate
SWEDEN - The 12.8 billion-euro Swedish national pension scheme AP1 has put out to tender a 200-300 million dollar US small-cap mandate.
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French MPs agree on pension reform proposals
FRANCE – After 19 days of debate, the French general assembly has finally agreed to the pension reform proposals to be put forward to the senate next week.
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DeAM sets up transition management team
UK – Following demand from institutions, Deutsche Asset Management has set up a team dedicated to transition management.
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Cardiff tenders two mandates worth E158m
UK – Cardiff County Council in Wales is tendering two mandates for its pension fund valued at 109 million pounds (158.6 million euros).
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State Street completes GSS buy in Italy
ITALY – State Street has completed its acquisition of Deutsche Bank’s custody arm, Global Securities Services in Italy and expects to close the acquisition of the Austrian GSS business in the third quarter.
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HSBC UK custody mandates under review
UK – HSBC Global Investor Services has seen two of its global custody mandates for UK local authority pension funds being re-tendered.
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More funds seeking hedge fund of funds, says Io
UK – An increasing number of UK pension funds are looking to invest in hedge fund of funds - but they need to be aware of how to identify the right fund. So says manager of managers Io Investors.
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Britannic AM opposes unconstrained benchmarks
UK – Frequent changes of pension fund benchmarks should be avoided, says Britannic Asset Management, in response to recent advice from consultants to use “unconstrained benchmarks” to avoid index-hugging.
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OECD says Italy needs further pension reform
ITALY – Italy’s pension system will need reforming beyond encouraging the growth of a private funded pillar if it is to tackle the financial burden, says an in-depth report by the Organisation for Economic Cooperation and Development.
