Investor Strategy – Page 98
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NewsMandate roundup: Cornwall, JLT, NEST, LCP, Michelin Pension and Life Assurance
UK – Cornwall local authority tenders £50m hedging mandate to offset inflation risk.
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NewsEnergy efficiency working group to develop climate bond criteria
GLOBAL – Chair of Climate Bond Initiative hopes criteria will encourage increased deal flow.
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BT scheme sees interest rate hedge lower returns by £750m
UK – Scheme of UK telecoms provider underperforms benchmark. returns only 1.7% in 2011.
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Total's Dutch scheme predicts further rights cuts as funding dips 9%
NETHERLANDS – Despite 7% returns boosted by interest rate hedge, fund warns of two further cuts.
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Rabobank pension fund credits extensive hedging policy for 15% return
2011 return almost entirely down to interest, equity, inflation and currency hedges.
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NewsIAPF welcomes decision to issue index-linked, amortising bonds
But more must be done to create 'coherent' regulatory framework, association warns.
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NewsIPE Top 400: Amundi bucks French trend in growing institutional assets
FRANCE – Company increases European institutional AUM by 15%, according to Top 400 Asset Managers survey.
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NewsDeveloped economies should expect future GDP growth of 'just 1%'
EUROPE – Real GDP growth of 2.5% in developed markets over last 30 years an anomaly, says Research Affiliates.
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NewsPension funds should invest up to 20% in infrastructure – report
EUROPE – Asset class provides 'better diversification' than real estate in periods of volatility.
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NewsDanica Pension to increase alternatives investment by nearly €2bn
Government bonds no longer able to deliver reasonable returns, Danish pension fund says.
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NewsPensionDanmark embarks on export-financing programme
EUROPE – Labour-market pension fund lends €34m to offshore wind farm project off coast of Belgium.
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Pension funds run by specialist managers produce higher returns
Specialists focusing on few asset classes ‘better at picking stocks’ than balanced managers.
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NewsThose who pushed euro should pay, says ING IM strategy head
EUROPE – Markets could rally this summer with 'a lot of bad news already priced-in'.
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NewsAsset managers should revamp business models to face crisis, survey says
Investors increasingly taking 'dynamic approach' to managing volatility, says CREATE-Research.
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NewsTailor-made LDI rising in popularity with UK schemes
Aon Hewitt survey says 40% of schemes likely to increase exposure to such strategies.
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Institutional investors warming to infrastructure debt funds
Institutional demand sees number of debt funds nearly double since 2010.
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NewsFoundations should not use crisis as 'excuse' to preserve capital
Endowments – unlike pension funds – able to move in 'new directions', experts say.
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NewsPension funds must resign themselves to promising less, says Denmark's ATP
CEO Lars Rohde says schemes must be 'more humble' about what they promise people in future.
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NewsGovernments must 'kick-start' longevity risk market, says OECD
Annuity markets unlikely to work without 'strong backing' from governments on risk-hedging market.
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NewsLongevity de-risking to be increasing concern for continental funds - Aon Hewitt
Revised longevity assumptions will make case for de-risking strategies in European DB market, says consultancy.
