Investor Strategy – Page 189
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News
Allianz’s DEGI cuts German real estate holdings
GERMANY – Real estate fund provider DEGI plans to cut the German holdings of its core German fund, after the fund was hit by €271.5m in net outflows in the first 11 months of this year.
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Dutch Treasury won’t issue index-linked bonds
NETHERLANDS - The Dutch State Treasury Agency won’t issue index-linked bonds in the near future, it said in its outlook for 2006.
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OECD flags up scarcity of government bonds
GLOBAL – The Organisation for Economic Cooperation and Development has flagged up the potential scarcity of high-quality long-term government bonds for pension funds.
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IPE-QUEST: Nordic bank seeks sub advisor
NORDIC – A Nordic bank has tendered an initial $80m sub- advisory mandate via IPE-Quest.
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Hoogovens scheme’s Bronger joins Robeco
NETHERLANDS – Patrick Bronger, senior investment manager at the €5.3bn Hoogovens pension fund, has joined Robeco’s hedge fund department.
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EU’s Almunia sees no changes to social model
EUROPE - Joaquín Almunia, the European Commissioner for Economic and Monetary Affairs, says the continent’s social models will not have to be sacrificed to deal with population ageing and globalization.
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ABP, PGGM award €11bn private equity mandate
NETHERLANDS – ABP and PGGM, the two largest Dutch pension funds, have awarded a new €11bn private equity mandate to AlpInvest.
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International pensions now mostly DC – Mercer
GLOBAL - Two-thirds of companies with international pension plans now use defined contribution arrangements, according to a survey from Mercer Human Resource Consulting.
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Fidelity setting up multi-manager business
UK – Fidelity Investments is setting up a multi-manager business that will eventually offer manager of managers services.
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Purchase boosts Morningstar investment consulting
US – Investment research firm Morningstar says its $83m (€69.6m) cash acquisition of asset allocation firm Ibbotson will boost its investment consulting business.
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Poland approves Nordea pension purchase
POLAND – The Polish authorities have approved Nordea’s previously announced acquisition of Sampo’s Polish life and pensions businesses.
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Dutch schemes in deal with Altera Vastgoed
NETHERLANDS – The Stork and PNO Media pension funds are to transfer their €90m Dutch real estate portfolio to, and become shareholders in, real estate group Altera Vastgoed.
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Janus names consultant relations director
GLOBAL - Janus Capital Group has named Brad Gillman as director of consultant relations at Janus Institutional Asset Management.
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ECB warns of pension speculation amid low rates
EUROPE – The European Central Bank has warned that the current low interest rates may lead to “reckless or speculative” investing by pension funds.
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OECD global pension forum postponed
GLOBAL – A forum on global pensions organized by the OECD and the new International Organisation of Pension Supervisors has been postponed.
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ATP named best European pension fund 2005
EUROPE – Denmark´s ATP has been named overall Best European Pension Fund in 2005 at the annual IPE Awards in Berlin. It was also named Best European Public Pension Fund as well as scooping the top award for Denmark and risk management.
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MEAG targets third-party growth
GERMANY – MEAG, the asset management arm of reinsurance giant Munich Re, plans to expand its third-party business by between 25-30% annually, according to Robert Helm, managing director at MEAG responsible for third-party business.
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Levensloop for self-employed reconsidered
NETHERLANDS – Dutch Social Affairs minister Aart Jan de Geus is again to look at the possibilities of creating a ‘levensloop’, or life course, scheme for the self-employed.
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PIMCO boosts its Swiss team
SWITZERLAND – Specialist fixed-income manager PIMCO has appointed Joachim Suter to the position of Swiss head of institutional business development.
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Metzler posts 28% rise in institutional assets
GERMANY – A mix of mandates for institutional funds and one for a so-called ‘master fund’ has enabled Metzler Asset Management to lift its institutional assets to above €20bn – an increase of 28% from the end of 2004.
