Investor Strategy – Page 189
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Dutch funds buy into UK private equity firm
UK - The two largest Dutch pension funds, ABP and PGGM, have put an undisclosed sum into private equity firm West Private Equity via their AlpInvest vehicle.
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Slovenia pension manager KAD reports profit
SLOVENIA – The supervisory board of the state-run €1.18bn Pension Fund Management, or Kapitalska Druzba (KAD), has reported a SIT15bn (€62m) net profit result for 2005.
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Ageing driving European life insurance – CEA
EUROPE – The European life insurance market’s growth to a record turnover is due in part to changing demographics, says European industry group the Comité Européen des Assurances.
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ABN Amro’s Fernandes joins Citigroup
UK – Francis Fernandes, the former Lane Clark & Peacock partner who joined ABN Amro two years ago, has now quit to join Citigroup’s pensions advisory group in London.
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DNB warns on pressures over new pension law
NETHERLANDS – The Dutch central bank has warned there will be time pressure on pension funds if the new Pension Law is not passed by Parliament before the summer.
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Philips scheme in Amsterdam real estate buy
REAL ESTATE – The Philips Pension Fund has acquired Amsterdam Symphony, a real estate project in Amsterdam’s main new real estate project called Zuid As (This article originally appeared on www.iperealestate.com).
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ING IM providing ALM, asset allocation to schemes
EUROPE – ING Investment Management is performing asset liability modelling and asset allocations for European pension funds, says chief executive Angelien Kemna.
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Pension funds, managers buy new bond system
UK – Portfolio analytics provider StatPro says institutional investors such as pension funds and asset managers are showing a lot of interest in its new fixed income system.
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European institutions snap up new Finnish IPO
FINLAND – Just over 100 European institutional investors have snapped up the shares in Finnish financial services firm FIM Group’s new initial public offering.
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Barclays scheme puts €281m into emerging markets
UK – The Barclays UK Pension Fund has put £195m (€281m) into an emerging market debt mandate, according to BlueBay Asset Management.
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Germany’s BVV eyes real estate, private equity
GERMANY – BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity.
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IVG to offer schemes custom real estate vehicles
REAL ESTATE - Bonn-based IVG Immobilien is to target pension funds with bespoke vehicles invested in non-listed real estate – in addition to its growing portfolio of closed-end core, opportunistic and development funds (This story originally appeared on IPERealEstate.com).
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Italy’s Previcooper seeking asset managers
ITALY – Previcooper, the €73m supplementary second pillar pension for employees of Italy’s co-operative distribution industry, is looking for asset managers for the ‘Safe’ portfolio of its ‘multicomparto’ structure.
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Switzerland’s APK outlines switch to DC
SWITZERLAND – Aargauische Pensionskasse (APK), a CHF4.9bn (€3.1bn) pension fund for Swiss civil servants, plans to fully fund its liabilities by January 1 2008 following several reforms – notably a switch to defined contribution from defined benefit.
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German MPs call for civil service pension fund
GERMANY – The budget committee of Germany’s parliament (Bundestag) has urged the government to create a pension fund for federal civil servants instead of, as now, financing their pensions via tax reserves.
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Pension funds buy into Clariant bond issue
SWITZERLAND – A significant amount of pension fund money went into Swiss chemical firm Clariant’s new UK-listed seven-year €600m Eurobond.
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Munich Re’s MEAG rolls out new funds
GERMANY – MEAG, the asset management arm of German re-insurance giant Munich Re, has confirmed the rollout of four new “i-shares” - mutual funds targeted exclusively at institutional investors.
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Pensions conference glut claims first victim
EUROPE – An unusual convergence of pensions and investment industry conferences on Tuesday April 25 has claimed its first victim: Credit Suisse.
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Cordares sets up pension product for new union
NETHERLANDS – Cordares is to create a new individual and ‘user-friendly’ pension planning product for the new union for Dutch self-employed people.
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Institutions pull €3bn from Robeco
NETHERLANDS – Robeco, the asset management arm of Dutch bank Rabobank, had a €3bn outflow of institutional assets in 2005.
