Investor Strategy – Page 161
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News
LDI drives growth at KBC fund
[16:00 CET 24-01] BELGIUM – The €970m pension fund of Belgian banking and insurance group KBC has seen its assets grow by nearly €10m in the first six month under its new liability driven investment (LDI) study.
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PFA cuts equity exposure over recession fears
[13:00 CET 24-01] DENMARK - Denmark’s PFA Pension made an above-benchmark return on investments of 1.2% in 2007, and has now slashed its equities exposure ahead of the recession it expects to see in the US.
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2008 centre-stages alternatives, real returns and funding
[16:55 CET 22-01] EUROPE – Allocation to alternative assets will increase in 2008 and Dutch pension funds will continue to seek real returns as German corporates’ appetite for funding grows, investment bank Lehman Brothers has suggested.
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Watson Wyatt 'nervous' over 130/30 funds
[14:00 CET 22-01] UK - Watson Wyatt has cautioned pension funds against quantitative managers following the "strong tailwind" the sector has experienced over the past five years.
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AP Pension invests in business loans to Danish firms
[17:02 CET 18-01] DENMARK - Danish occupational pension fund AP Pension has invested DKK250m(E33.5m) in instruments which represent the risk element of business loans, saying the credit crunch has made it worth investors’ while to “play bank”.
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PGGM disinvests on PetroChina because of human rights
[15:50 CET 18-01] NETHERLANDS - The €88bn health care pension fund PGGM is withdrawing its €37m investments in oil company PetroChina, because of the firm’s human rights violations in Sudan.
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Norway to review PFG's ethical guidelines
[16:45 CET 16-01] NORWAY – The Norwegian Government is re-evaluating the ethical guidelines currently in place for the Norwegian Pension Fund Global to ensure "they function as intended".
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Merrill Lynch aid spotlights sovereign funds
[16:00 CET 16-01] GLOBAL – Investment giant Merrill Lynch is the latest firm to have turned to sovereign wealth funds (SWFs) for financial support and has signed a deal with seven financial institutions in total to sell convertible preference shares worth $6.6bn (€5bn).
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News
DNB questions pensions focus on market timing
[16:00 CET 15-01] NETHERLANDS - Dutch pension fund managers are unable to predict market movements, and should therefore focus on the best strategic asset allocation and rebalancing, a DNB study suggests.
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Berkshire withdraws Asia-Pacific search
[16:00 CET 15-01] UK – The Royal County of Berkshire pension fund has pulled plans to appoint an Asia-Pacific investment manager.
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State-owned firm to close DB scheme
[17:00 CET 11-01] IRELAND – Members of pension schemes at Irish renewable energy and turf provider Bord na Móna will be asked to approve changes within the next few weeks which could see the two schemes merged and then closed to new members.
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Aberdeen emerges as Lothian winner
[16:40 CET 07-01] UK – Lloyd George Management has lost the right to manage the Lothian Pension fund’s emerging markets equity mandate, worth around £160m (€214.4m), to the benefit of Aberdeen Asset Management.
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NewsIPE to bring you IPNederland
[14:00 CET 07-01] NETHERLANDS - Investment & Pensions Europe is adding a new publication to its investment and pensions stable, known as IPNederland - a standalone Dutch-language publication covering the pensions and institutional investment arena in The Netherlands.
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News
Unions handed controls for BAA emerging landing
UK – The first of the three planned strike actions at the UK's busiest airports has been halted after airport operator BAA has said it will hold back from closing its final salary pension scheme.
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News
'Rebalancing' nations will prevent global recession - Principal
[11:00 CET 21-12] GLOBAL – Though a global recession is unlikely, developed nations may experience a rebalancing of financial power, a US economist has suggested.
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CalPERS pursues infrastructure and private equity
[12:30 CET 19-12] US - The California Public Employees Retirement System (CalPERS) has adopted a new asset allocation mix which will see $29bn shift out of bonds and equities to finance increased investment in private equity, infrastructure and real estate.
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Hungarian funds increase equity exposure
[13:00 CET 19-12] HUNGARY – Pension funds will start to double equity exposure in some portfolios from January in anticipation of new regulation.
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Pension funds negotiate investment rules
[16:30 CET 17-12] BULGARIA – The association of Bulgarian pension management companies (BASPC) has called on the government to lift the cap on mandatory pension schemes’ investment in equities and argued schemes should be allowed to participate in IPOs.
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PFA leaps allocation to tap infrastructure growth
[15:30 CET 17-12] DENMARK – The huge Danish PFA corporate pension fund has boosted its infrastructure investment and plans to move even further into the asset class next year, probably including direct investments in the sector for the first time.
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News
Military unions place levensloop with Aegon
[16:15 CET 14-12] NETHERLANDS - Three unions for military personnel have made arrangements to set up a ‘levensloop’, or life course, scheme with insurer Aego, instead of placing contributions with the scheme of their employer, the ministry of Defence.
