All articles by Kristen Paech
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News
JPMAM brings four 130/30 strategies to Europe
[14:00 CEST 17-10] EUROPE – JPMorgan Asset Management(JPMAM), one of the pioneers of the 130/30 strategy in the US, has joined a host of new entrants to the UK market with the launch of four new funds for institutional investors.
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LVAM in drive to grow institutional business
[16:20 CEST 16-10] UK – LV=Asset Management (LVAM), the asset management arm of UK’s largest friendly society, has announced ambitious plans to expand its fund management arm with 12 new funds and the development of a multi-manager capability, as it targets institutional and retail investors.
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NPRF hires three transition managers
[15:40 CEST 16-10] IRELAND – The €21.3bn National Pension Reserve Fund (NPRF) has appointed a panel of three transition managers including Citigroup, Lehman Brothers and State Street in a bid to improve cost efficiency.
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Kensington and Chelsea fund seeks consultant
[14:40 CEST 16-10] UK – The £425m (€610m) Royal Borough of Kensington and Chelsea pension fund is seeking an investment consultant to assist with asset allocation and external manager appointments.
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Sainsbury takeover 'hinges on pension agreement'
UK - The success of a £10.6bn (€15.2bn) takeover bid for J Sainsbury, one of the UK’s largest supermarket chains, is now said to hinge on an agreement between the pension trustees and the bidders over the future of the pension scheme.
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Pension volatility underscores de-risking need - Mercer
[15:00 CEST 15-10] UK – Recent market volatility has highlighted the importance of risk management with the aggregate pension deficit of the UK’s largest companies soaring as high as £30bn in mid-August before recovering to £6bn (€8.6bn) at the end of September, according to Mercer.
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Post union scrutinises Royal Mail deal
[15:00 CEST 15-10] UK - Further strikes by Royal Mail staff protesting over the future of the company pension fund and other employment terms could be avoided if the postal workers’ union accepts a newly proposed deal this afternoon.
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Credit turmoil fails to dent equities appetite
[11:30 CEST 20-09] GLOBAL – Risk aversion has risen sharply on the back of turmoil in credit markets yet fund managers have failed to radically shift their portfolios, according to Merrill Lynch.
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CAAM appoints new CEO
[16:45 CEST 19-09] EUROPE – Crédit Agricole is expected to remain unscathed by subsidiary Calyon's €250m unauthorised trading loss amid the credit market turmoil as new chairman and chief executive officer (CEO) of the CAAM group Yves Perrier prepares to take over the reigns of its asset management arm.
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Norway fund's Kjær to step down (Update)
[11:30 CEST 19-09] NORWAY – Knut Kjær, head of the €235bn Norwegian Government Pension Fund – Global, has resigned after 10 years at the helm to "pursue new challenges". (Updated with quotes from Kjær)
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Glasgow fund monitors underperforming managers
UK - The £9.73bn (€14.4bn) Strathclyde Pension Fund has put Edinburgh-based Baillie Gifford and Isle of Man’s Capital International under watch due to underperformance.
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NAPF finds pensions regulation a worry
UK – Three quarters of UK pension schemes are more concerned about the regulatory burden than improving longevity and closing their deficits, research suggests.
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Trustees blame actuaries for deficits
UK – Actuaries have contributed to the huge deficits faced by many pension schemes by failing to take account of improved life expectancy in their advice, trustees have alleged.
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ABN Amro sells custody business
[16:34 CEST 05-07] GLOBAL – Dutch bank ABN Amro has exited the asset servicing business with the sale of its 50% stake in custody joint venture ABN Amro Mellon to the newly merged Bank of New York Mellon.
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Powys drops overseas bonds
[16:19 CEST 05-07] UK - Western Asset Management and Barclays Global Investors (BGI) have lost out in a major reshuffle at the £295m (€436m) Powys County Council Pension Fund that has seen overseas bonds culled from the portfolio.
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UN SRI principles gain ground
GLOBAL - Almost 80% of pension fund signatories to the UN Principles for Responsible Investment (PRI) consider responsible investment issues in their investment manager selection process, or plan to do so this year.
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Slovakian opting-out plans criticised
SLOVAKIA - Government plans to allow people to withdraw their savings from the mandatory second pillar pension system could destabilise the system and spark higher inflation, the industry has warned.
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Aer Lingus pensioners face €5m loss
[17:11 CEST 03-07] IRELAND – Aer Lingus pensioners face losses of nearly €5m as a result of action taken by the Irish Airline Pilots Pension Fund to block a hostile takeover by Ryanair.
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AP3 appoints 12 GTAA managers
[17:10 CEST 03-07] SWEDEN - The SEK212.2bn (€22.9bn) third Swedish buffer fund, AP3 has appointed 12 managers within global tactical asset allocation (GTAA) as it seeks to diversify its active risk taking.
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UK schemes eye mortality swaps
[17:09 CEST 03-07] UK - Many of the UK’s largest occupational pension schemes would consider paying a premium to hedge out the risks around life expectancy if a market for mortality derivatives developed, new research suggests.
