Investor Strategy – Page 167
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NewsVervoer invests in RaboBouw infrastructure
[16:00 CET 04-02] NETHERLANDS –Vervoer, the €6.4bn industry-wide pension fund for the private transport sector, has been cited as one of the main investors for a new infrastructure investment fund created by Rabobank’s subsidiary Rabo Bouwfonds.
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AP4 seeks 'standard' framework for passive global equities
[15:00 CET 04-02] SWEDEN – The fourth Swedish buffer fund, Fjärde AP-Fonden (AP4), has issued a tender for a passive global equities mandate valued at around €3bn.
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Football fund fed up with spoil sports
[14:30 CET 01-02] NETHERLANDS – CFK, the €560m pension fund for Dutch professional footballers, is in talks with the regulator to implement an investment maximum to avert further scrutiny from members.
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Lincolnshire splits £185m currency mandate
[14:00 CET 01-02] UK – Lincolnshire County Council pension fund has split a £185m (€247m) currency overlay mandate between two companies.
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Northern Trust raises LDI benchmark offering
[16:45 CET 31-01] GLOBAL – Northern Trust is unveiling analytical services for existing custody clients which allows them to create unique liability benchmarking specifically tracking a pension fund’s assets, and which will soon allow funds to ‘stress test’ their strategies.
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Czech Republic "needs early reforms" - IMF
[16:30 CET 30-01] CZECH REPUBLIC – The International Monetary Fund (IMF) has warned the Czech Republic it needs to implement early reforms to its state pension system if it wants to "put public finances on a sustainable path".
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NewsSchemes warned of deficit risk from markets
[16:55 CET 28-01] GLOBAL/UK – Falling equity markets combined with lower bond yields and increasing longevity could push schemes back into deficit in 2008, the International Financial Services London has warned.
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NewsSchemes to increase focus on risk hedging
[14:30 CET 28-01] UK – Pension funds will place more emphasis on risk hedging in 2008, but will continue to move towards absolute return strategies, fund managers have predicted.
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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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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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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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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.
