Investor Strategy – Page 179
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CalPERS names asset allocation consultants
GLOBAL – The California Public Employees’ Retirement System (CalPERS), the $210bn (€163.8bn) public pensions giant, has “tentatively” selected contractors for asset allocation consulting, securities lending services and administration of supplemental savings programmes.
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EFRP celebrates 25th anniversary
EUROPE – The European Federation for Retirement Provision (EFRP), which represents occupational pension plans in the EU and candidate states, is today celebrating its 25th anniversary in Brussels.
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PPF to appoint specialist fund managers
UK – The Pension Protection Fund will appoint specialist fund managers from next year, according to its new three- year strategic plan.
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Former FIM Group chief executive faces jail
FINLAND – The former chief executive of Finnish broking and asset management group FIM, Seppo Sairanen, has been sentenced to jail by the District Court of Helsinki for alleged fraud.
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Fortis names global LDI head
NETHERLANDS – Fortis Investments has appointed Alexander Van Aken to the new position as global head of liability driven investment.
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UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
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Hewitt Associates chief executive Gifford exits
GLOBAL – Dale Gifford, chairman and chief executive of pension consulting and human resources firm Hewitt Associates, is to retire at the end of the year.
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Man Group limits hedge funds in own scheme
UK – Man Group, the world’s largest listed hedge fund group, is limiting the hedge fund allocation in its own pension fund on the advice of Watson Wyatt, says chief executive Stanley Fink.
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PensionDanmark starts real estate project
DENMARK – PensionDanmark today began building apartments in Måløv, near Copenhagen, that will be ready for occupation at the end of 2007.
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Ex-CalPERS’ McCook joins new firm
REAL ESTATE - Mike McCook, the former senior investment officer for real estate at the California Public Employees Retirement System, has found new employment. (This article first appeared on IPERealEstate.com.)
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FRR explains reasoning for avoiding hedge funds
FRANCE - The FRR, the €27.7bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has explained why it will not be investing in hedge funds as part of its new strategic asset allocation which features a shift towards 'alternative' assets.
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Hewitt considers raising stake in German venture
GERMANY – Hewitt Associates is considering raising its minority stake in the BodeHewitt joint venture it launched almost a year ago with Bode Grabner Beye.
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Italy’s Prevedi seeking asset managers
ITALY - Prevedi, the complementary pension fund for employees in the industrial and building companies is looking for up to four asset managers to manage its €24m portfolio.
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Citigroup, LGIM in pooling tie for Dutch schemes
EUROPE – Citigroup’s Global Transaction Services arm has created a pension pooling structure using an Irish common contractual fund vehicle for the Dutch pension fund clients of Legal & General Investment Management.
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ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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Nordrheinische doctors fund taps GSAM for GTAA
GERMANY – Nordrheinische Ärtzeversorgung (NAEV), a €7.5bn pension fund for physicians, has awarded Goldman Sachs Asset Management a global tactical asset allocation mandate worth €60m.
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France’s new Natixis to be €534bn heavyweight
FRANCE - After two and half months of discussion, Caisse d’Epargne and Banque Populaire yesterday signed an agreement to merge their investment subsidiaries Natexis and Ixis - creating France’s second largest funds management company with assets of €534bn.
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Norwegian government fund excludes Wal-Mart
NORWAY – US retailer Wal-Mart is being excluded from the Norwegian Government Pension Fund – Global’s investment universe because of alleged serious and systemic human rights violations.
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CSAM Germany gets new chief investment officer
GERMANY - The German arm of Credit Suisse Asset Management has promoted Stefan Keitel as its new chief investment officer.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
