Investor Strategy – Page 175
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TIAA-CREF puts $100m into microfinance
GLOBAL – US educational retirement savings group TIAA-CREF has earmarked $100m (€78.8m) to invest in so-called microfinance initiatives.
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Dutch funds’ duration lengthens, DNB says
NETHERLANDS – Pension funds with an invested capital of between €100m and €10bn have seen the average duration of their portfolio go up by one and a half years, the Dutch central bank (DNB) said today.
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ATP planning US real estate investment
DENMARK – The DKK371.5bn (€50bn) Danish supplementary pension scheme ATP is looking at real estate investments in the US.
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Norwegian Global fund reviewing strategy
NORWAY – The NOK1.5trn (€180bn) Norwegian Government Pension Fund is reviewing its “low return volatility” investment strategy, says the central bank.
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German institutions eye structured, private equity
GERMANY – Pension funds and insurers are planning more investment in alternatives this year and next, but will only award mandates for structured products and private equity, according to a new survey by German consultant Heissmann.
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Vervoer to utilise Mcube's AlphaEngine for fiduciary oversight
NETHERLANDS – The Dutch industry wide transport fund Pensioenfonds Vervoer has hired American investment technology firm Mcube to help it “measure, manage and monitor” its fiduciary investments, the fund announced today.
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Pension funds pick up more of Exista from Kaupthing
ICELAND – Icelandic pension funds have bought a further stake in financial services group Exista from Kaupthing Bank, the bank announced today.
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Swedes and Dutch scrutinise private equity funds’ role
EUROPE – A week before general elections, the Swedish government has raised concerns about private equity fund Cevian’s investment approach in Volvo.
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Norway fund defends Wal-Mart divestment despite ‘flawed’ screening criticism
The Norwegian Government Pension F – Global today responded robustly to allegations that its equities screening process was arbitrary, opaque and unfair.
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Netherlands: Interesting times
NETHERLANDS - There's an old Chinese curse that says 'may you live in interesting times'. It might have been coined for the Dutch pensions industry. "All times are interesting, especially for Dutch pension funds," says Jeroen Steenvoorden, director of pension fund for self-employed medical specialists SPMS. "There is so much ...
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Germany: Book reserves still common
GERMANY - Although there are five different ways of creating an occupational pension the most common, with more than 50% of all pension assets and totalling around €400bn, is still through the book reserves of the employer, according to Klaus Stiefermann, general manager of the Association of Company Pension Schemes ...
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Big UK schemes warm to private equity
UK – Representatives of some of the largest UK pension funds have come out in favour of private equity as an asset class – though they say a “new professionalism” is needed.
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Bexley, Lincolnshire name new managers
UK – The Bexley and Lincolnshire local authority pension funds have separately named new asset managers.
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Ordina working to harmonise pension schemes
NETHERLANDS – Dutch IT firm Ordina says it is working to finalise the harmonisation of its pension schemes in the next few months.
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JP Morgan ousts Wellington at Merseyside
UK - The £3.8bn (€5.5bn) Merseyside Pension Fund has appointed JP Morgan Asset Management for its newly created £100m European (ex-UK) equities mandate.
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Germany’s EnBW confirms multi-billion revamp
GERMANY – Energie Baden-Württemberg, Germany’s third largest energy firm, has completed a revamp of the way its pension money is invested, switching to a so-called ‘master-fund’ structure for the assets.
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Clywd scheme goes unconstrained
UK – The £800m (€1.2bn) Flintshire County Council Clwyd Pension Fund has tendered a total of £145m in unconstrained fixed income and equities.
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Citigroup sets up pension solutions team
EUROPE - Citigroup has set up a European insurance and pensions structured solutions group in London under Wiltrud Heiss.
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BOE scheme takes 6.7% of Henderson property fund
REAL ESTATE - The Bank of England’s pension fund has acquired almost 6.7% of Henderson Global Property Investors, the fund manager.
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State Street under review at Edinburgh
UK – State Street Global Advisors is facing a review at the £2.1bn (€3.2bn) City of Edinburgh Council Lothian Pension Fund, which is looking to appoint a fund manager for its £125m multi-asset Scottish Homes portfolio.
