Investor Strategy – Page 176
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News
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.
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UBS, Fidelity under scrutiny at Ealing
UK - UBS Global Asset Management and Fidelity International, currently managing the London Borough of Ealing’s £500m pension fund are under scrutiny.
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Essex pension fund goes unconstrained
UK – The £2.1bn (€3.1bn) Essex County Council Pension Fund is looking to appoint a specialist unconstrained global equity manager for a £140m mandate.
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CalPERS names bond, real estate managers
US – California’s $205bn (€160bn) public pension giant CalPERS has named 16 managers for international fixed income, real estate equities and US global equities.
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Watson sees “robust” demand from pension clients
GLOBAL – Watson Wyatt Worldwide has reported “robust demand” for investment strategy and fund manager selection services amid an 18% increase in revenues at its investment consulting group.
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SSGA facing loss of $13bn CalPERS index brief
US – California pension giant CalPERS is considering terminating State Street Global Advisors from a $13bn (€10.2bn) international equity index mandate.
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East Sussex tenders up to €742m in FX
UK – The £1.18bn (€1.85bn) East Sussex County Council Pension Fund has tendered up to £500m in active currency overlay, a new move for the council.
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PPM denies fund selection “flop”
SWEDEN – The Swedish Premium Pensions Authority has reacted vigorously to reports that its new online fund selection tool has been a flop.
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Essex tenders up to €1.4bn in currency overlay
UK – The £2.1bn (€3.1bn) Essex County Council Pension Fund has tendered up to €1.46bn in active currency overlay.
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Tower Hamlets tenders UK and global equities
UK – The £640m (€935m) London Borough of Tower Hamlets Pension Fund has tendered an initial £160m in UK and global equities.
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Woolworths scheme puts 10% into alternatives
UK – The £300m (€438m) Woolworths Group Pension Scheme is to put 10% into alternative investments including property and active currency following an investment review by Hewitt Associates.
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Germany's Westfalen-Lippe fund backs Hermes
GERMANY - The €6.85bn Westfalen-Lippe doctors' pension fund has put €25m into the Hermes European Focus Fund.
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Mercer takes over at €2.4bn Allied Domecq scheme
EUROPE – Mercer Human Resource Consulting has taken over the running of the €2.4bn pension fund of drinks firm Allied Domecq.
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L&G eyes longevity risk products for big schemes
UK – Legal & General says it sees “significant” growth opportunities in new products offering longevity products to larger pension schemes.
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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North Yorks tenders TAA (Correct)
UK - The £1.1bn (€1.6bn) North Yorkshire Pension Fund says it has tendered a £44m Global Tactical Asset Allocation mandate following a review of its equity investment strategy (Corrects name of advisor).
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The Hague taps Aegon for levensloop scheme
NETHERLANDS - The city council of The Hague has chosen insurer Aegon to provide a life course (levensloop) pension arrangement for all of its 8,000 employees, Aegon announced.
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Forbo scheme names MN as investment manager
NETHERLANDS - The company pension fund of linoleum producer Forbo has selected MN Services as its new investment manager, MN has announced.
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Asset management M&A hits record – report
GLOBAL – The sale of asset management businesses worldwide in the first half of 2006 hit the highest level ever, according to a new report.
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Gist-Brocades, DSM-Chemie funds in €5bn merger
NETHERLANDS - The Gist-Brocades and DSM-Chemie pension funds are to merge, creating a fund worth more than €5bn.
