Investor Strategy – Page 162
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Teesside seeks Northern custody support
[13:30 CET 14-12] UK – Middlesbrough Borough Council has reappointed Northern Trust as custodian on behalf of the £2.2bn (€3bn) Teesside pension fund.
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Volkswagen revamps UK fund
[12:00 CET 14-12] UK – The £160m (€222m) UK pension fund of German car maker Volkswagen has today confirmed it is moving towards a liability driven investment (LDI) strategy.
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Dutch Unilever fund continues direct real estate
[15:45 CET 13-12] NETHERLANDS – The €4bn Dutch pension fund of Unilever, known as Progress, has strongly denied it intends to sell off its direct real estate holdings.
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Pearl to share Axial lessons with RAM
[15:30 CET 13-12] UK – Axial Investment Management looks set to share its asset liability investment skills with Resolution Asset Management for the benefit of the institutional market, once the two firms are merged by their parent Pearl Group.
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Sicily, Lombardy and Veneto mull territorial fund
[12:00 CET 12-12] ITALY – The Italian regions Lombardy, Veneto and Sicily are looking at adopting territorial pension fund arrangements similar to PensPlan for the Trentino region.
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Ionis eyes cross-border fund cooperation
[14:00 CET 11-12] FRANCE – Ionis, the €200m French pensions and savings group, is mulling cross-border cooperation with Belgium, Spain, Switzerland and Italy.
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ATP acts to hedge inflation
[17:05 CET 07-12] DENMARK - Denmark’s huge labour market pension fund ATP has been steadily increasing its exposure to the oil market and other investment sectors that will do well under conditions of higher inflation.
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Evidence sees plan types divided on DC choices
[17:00 CET 07-12] UK - Pensions investor still face a “surfeit of choice” as seven out of 10 contract-based occupational defined contribution (DC) schemes give their members 20 or more funds to invest in, Watson Wyatt has found.
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Dutch journos joins Grafische Bedrijven
[12:30 CET 06-12] NETHERLANDS – The €13m Dutch daily newspaper journalists’ pre-pension fund will be liquidated when its liabilities are transferred to the €6.4bn Dutch pension fund for the printing industry, Grafische Bedrijven (PGB).
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Merseyside looks set to drop BGI mandate
[15:30 CET 05-12] UK – Barclays Global Investors could lose the contract to manage a UK equities mandate for the Merseyside pension fund, following a review of the local government scheme’s asset allocation strategy.
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Education no substitute for good default – Harvard academic
[15:00 CET 04-12] GLOBAL – Financial education and matching contributions from employers for DC schemes will not help raise the pensions savings rate, David Laibson, Professor of Economics at Harvard University, has suggested.
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Redefine DC categories, argues Nobel laureate
[13:00 CET 30-11] GLOBAL – Default categories for defined contribution pensions should be devised according to "prototypes" of employees, Nobel economics laureate Joseph Stiglitz has recommended.
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Life cycle investment is 'utter nonsense', claims IPE winner
[16:15 CET 29-11] AUSTRIA – Changing the asset allocation in a portfolio solely on the basis of the members’ age is “complete nonsense”, as are other strictly “mechanical portfolio management concepts”, according to Christian Böhm, managing director of the Austrian multi-employer pension fund APK.
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PPF mulls buffer amid claims of overcharging
[15:30 CET 28-11] UK - The UK's Pension Protection Fund (PPF) is looking to set up a buffer fund with any surplus it might accrue in the future, IPE has learnt.
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Parliamentary pension fund too costly – German MPs
[12:00 CET 27-11] GERMANY – German MPs have agreed to increase in their retirement and make cuts in their pensions but have voted against the creation of a pension fund for members of the parliament, the so-called ‘Bundestag’.
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Promoting property as a pension is wrong - MetallRente
[16:30 CET 26-11] GERMANY – Plans by the German government to subsidise private property by way of supplementary pensions endangers the level of retirement provision, industry pension group MetallRente noted.
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DAX blue-chip gets Pensionsfond approval
[16:30 CET 23-11] GERMANY – Munich-based mechanical engineering group Man AG has received regulatory approval for its Pensionsfond within its contractual trust agreement (CTA).
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AMF tops the ITP pensions bill
[16:15 CET 23-11] SWEDEN - AMF Pension now manages over one-quarter of young Swedish white-collar worker pension accounts, following the opening of the ITP to a wider base of pension providers.
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'Brave new world' cited for investment
[16:45 CET 20-11] UK – Four ‘winning strategies’ will provide the majority of growth for the investment management industry, according to a new white paper.
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First 130/30 index unveiled
[16:15 CET 20-11] GLOBAL – Standard & Poor’s has launched the first 130/30 strategy index, and begun by linking to activity of S&P 500 stocks.
