Investor Strategy – Page 205
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France’s €5bn Cancava in scheme revamp
FRANCE – The €5bn pension fund Caisse Nationale d’Assurances Vieillesse des Artisans, Cancava, has appointed 10 equity managers amid a revamp which saw eight of its former managers dismissed over poor performance.
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Shift to specialists slows down – Russell/Mellon
UK – The shift from balanced to specialist investment management, which has taken place among pension funds in the last 10 years, is slowing down Russell/Mellon says.
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Asset managers call for pension tax consistency
EUROPE – There has been a new call for consistency in European pension taxation, this time in a report prepared by asset management industry figures.
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BGI’s ALM head joins Pension Protection Fund
UK – Partha Dasgupta, head of asset/liability management at Barclays Global Investors, has joined the new Pensions Protection Funds as director of investment and finance.
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Capital International ‘has more to do in Europe’
EUROPE – Ratings firm Fitch Ratings says reclusive US-based asset manager Capital International still has “further additions” to make to its European business.
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Canadian scheme backs Luxembourg’s Honsel
LUXEMBOURG – Ontario-based public pension scheme OMERS has made a US$40.6m (E35m) investment in Luxembourg-based car industry supplier Honsel International Technologies.
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December European ETF trading volumes fall
EUROPE -- The aggregate volume of exchange-traded funds (ETFs) traded on European exchanges decreased 1.71% in December from the previous month to 220m shares, according to the Pan European ETF Report.
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Aon Consulting’s Belgian co-MD Claes leaves
EUROPE – Anne Claes, joint managing director at Aon Consulting in Belgium, has left.
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Metallrente posts 48% rise in sales
GERMANY - Metallrente, the pension fund for employees in Germany’s metalworking and engineering industries, has posted a 48% rise in sales of its corporate pension in 2004 despite difficult market conditions.
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New shareholders at MetallRente - report
GERMANY - Metallrente, the pension fund for employees in Germany’s metalworking and engineering industries, looks set to get new shareholders as part of a shake-up aimed at boosting sales.
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Inarcassa says European equities beat benchmark
ITALY – Inarcassa, the €2.7bn association for self-employed engineers and architects, said its European equity portfolio outperformed its benchmark by 5.63% in 2004.
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Dutch building scheme backs Aareal fund
NETHERLANDS - The Dutch building workers pension scheme has committed equity on behalf of two pension fund clients to a real estate fund run by Aareal.
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JP Morgan eyes profitable German mandates
GERMANY – The head of JP Morgan Fleming in Germany says that winning profitable mandates is the firm’s top priority.
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Trichet flags up pensions at ECB rate meeting
EUROPE - Jean-Claude Trichet, the president of the European Central Bank, flagged up the challenge of population ageing and pension systems in the bank’s monthly press conference on monetary policy.
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Two Dutch schemes back real estate fund Altera
NETHERLANDS – Physiotherapists’ fund SPF and the pension fund of Cindu International in the Netherlands have invested E22m in Altera Vastgoed, the E1bn private real estate fund has said.
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Allianz Global Investors wins SICK brief
GERMANY - Allianz Global Investors has won one of its first investment mandates for so-called working time accounts, from industrial firm SICK AG.
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Pickering becomes trustee at educational charity
UK – Alan Pickering, former chairman of the European Federation for Retirement Provision, has been invited to join the board of trustees of educational charity Pre-retirement Association.
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UK councils tender bonds, equities and property
UK - Northamptonshire, Essex and North Yorkshire County Councils have put out requests for tenders for equity, bond and real estate portfolios worth a total of more than £500m (€715.5m).
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€500m PCM joins Dutch publishing sector scheme
NETHERLANDS - PCM, one of the largest newspaper publishers in the Dutch language region, has transferred its €500m pension fund to the €7.6bn industry-wide pension fund for the publishing sector, PGB.
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German brokerage group BCA slams hedge funds
GERMANY - BCA, Germany’s largest pool of independent financial brokers, has sharply criticised hedge funds, saying the products are both too costly and have performed poorly over the past few years.
