Investor Strategy – Page 200
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DNB sees improvement in Dutch schemes
NETHERLANDS - The Dutch Central Bank says the overall financial position of Dutch pension funds have improved remarkably.
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AXA names hedge head
GLOBAL - AXA Investment Managers has Olympia Capital Management's Véronique Courlier as global head of hedge fund activities.
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Netherlands: Interpolis to merge with Achmea
NETHERLANDS – Rabobank’s insurance subsidiary Interpolis is to merge with Eureko’s insurance group Achmea in a deal that builds on an existing agreement between the two firms.
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Hedge funds ‘should be part of core portfolio’
SWITZERLAND - Hedge fund investments should be part of the core as well as satellite portfolio – according to a professor at the Edhec French business school.
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BGI says it has two-thirds of bond ETF market
GLOBAL – Barclays Global Investors says its exchange traded funds, iShares, have around two thirds of the $9bn (€6.9bn) fixed income ETF market.
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Sainsbury’s scheme doubles hedge fund allocation
UK - The £3bn (€4.4bn) pension fund of retailer J Sainsbury has doubled its exposure to funds of hedge funds - investing new money and resources diverted from passively managed UK equities.
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Dutch consultant Strategeon hires ex-ING exec
NETHERLANDS – Strategeon, the consulting firm run by former Watson Wyatt Dutch investment head Paul van Aalst, has hired a former ING Investment Management marketing executive.
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Pension fund buys Shell power venture
GLOBAL – A Canadian pension fund and a private equity arm of US insurer AIG have teamed up to buy InterGen, a power generating joint venture of Shell and Bechtel, for US$1.75bn (€1.3bn).
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Clients put $10bn into currency overlay - Mercer
GLOBAL - Mercer Investment Consulting says its clients put $10bn (€7.7bn) into currency overlay mandates in 2004.
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Austria’s NÖVK scheme taps GES for SRI
AUSTRIA - Niederösterreichische Vorsorgekasse, a two-year-old Austrian pension fund serving 100,000 employees, has hired GES Investment Services for socially responsible investment consulting.
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Wellington raises stake in outsourcer Capita
UK – Asset management firm Wellington Management Co. has increased its stake in Capita Group, which provides pension outsourcing to companies such as utilities firm RWE and supermarket group Safeway.
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Hymans Robertson names seven new partners
UK – Consulting actuaries Hymans Robertson has named seven new partners, bring the total number of partners to 27.
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OECD sees no evidence of longevity deceleration
GLOBAL – The Organisation for Economic Cooperation and Development says the increase in longevity seems to be a permanent effect.
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Greenwich: foreign exchange becoming asset class
GLOBAL – With volumes up almost 25% last year, foreign exchange is evolving into a separate asset class for “real money” investors, says Greenwich Associates.
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ABN Amro’s Alfred Berg becomes Societas Europaea
SWEDEN – ABN Amro’s Scandinavian investment group Alfred Berg is to simplify its legal structure by creating a so-called European company, or Societas Europaea.
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Sweden’s Telia scheme shifts assets to SRI fund
SWEDEN – The Swedish pension scheme of Nordic telecoms firm TeliaSonera has shifted $140m (€108.7m) of assets into a socially responsible investing screened fund from State Street Global Advisors.
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Six Dutch members’ councils unite
NETHERLANDS - The member councils of six large Dutch pension funds have united in a new national platform, which represents more than 2.5 million employees and pensioners.
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Watson Wyatt boosts DC consulting
UK - Watson Wyatt has boosted its defined contribution consulting effort in the UK with the launch of a framework called Investment Gateway.
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Janus names global head of consultant relations
GLOBAL – Janus Capital Group has named former Morgan Stanley executive Carolyn Patton as director of global client relations, a new role.
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Dutch central bank to merge DNB and PVK schemes
NETHERLANDS - Finance minister Gerrit Zalm has told parliament in a letter that the two pension funds of the central bank will be merged and detached from the sponsor.