Markets – Page 161
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News
Not a good time for interest rate matching - IPE survey
[15:00 CET 23-12] EUROPE - Now is not a good time to use assets to match interest rate risk in a liability-driven investments (LDI) strategy. Bond yields are too low and assets are better employed seeking yield elsewhere, according to 61.5% of pension funds responding to an IPE survey.
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PPF appoints global equity managers
[16:30 CET 22-12] UK – The Pension Protection Fund (PPF) has confirmed the appointment of seven global equity managers to help manage its assets.
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NewsFRR completes third set of bond appointments
[16:45 CET 18-12] FRANCE - Fonds de Reserve pour les Retraites (FRR), the €31.9bn French national pension reserve fund, has completed its recent renewal of some fixed income mandates with the appointment of five managers to run US bond mandates.
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Russian wealth fund timed equity move to reap market turn
[14:00 CET 18-12] RUSSIA - Russia’s sovereign National Wealth Fund has benefited to the tune of billions following a move earlier this year - to invest in domestic equities - that has been described by analysts as the “trade of the decade”.
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UK roundup: Tyne & Wear, Shropshire, Kent, Xafinity, FSA, PMI
[16:30 CET 17-12] UK – Several UK local authorities have reviewed their investment and administration mandates while there have been developments elsewhere in relation to UK pensions regulation.
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New chief at Austria's VVP considers equity risk hedge
[16:00 CET 17-12] AUSTRIA – The Victoria-Volksbanken Pensionskasse (VVP) may hedge parts of its portfolio in 2010, its new head Axel Hartleib, has told IPE.
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Poland to ease pensions investment rules (amended)
POLAND – As part of the plan to divert some contributions from the second pillar to the first investment regulations for open pension funds (OPFs) would be loosened, IPE learnt.
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AP1 targets 12 managers for US small caps
[16:00 CET 15-12] SWEDEN: Första AP-fonden (AP1), the First Swedish National Pension Fund, has approved a list 12 investment managers to manage passive and active US small cap equity accounts.
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Two down, one to go: FRR signs fresh credit strategies
[13:30 CET 11-12] FRANCE - Fonds de Reserve pour les Retraites (FRR), the French pension reserve fund, has completed the appointment for its second lot of bond mandates, and now has just one more to go.
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UK roundup - Royal Mail, Wandsworth, Oxford and Powys
[16:15 CET 10-12] UK – Royal Mail has also revealed its pension deficit may have tripled in the last three years while three local authorities are making changes to their pension funds.
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Strathclyde drops bonds managers for absolute returns
[16:10 CET 07-12] UK – Glasgow City Council has replaced incumbent managers Henderson New Star and Western Asset Managers as holders of the Strathclyde Pension Fund’s bonds contracts, in favour of two new managers with absolute returns bond mandates.
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DB Advisors predicts interest rate and accounting change
[16:00 CET 07-12] EUROPE – Georg Schuh, chief investment manager at DB Advisors, has sought to lift some of the worries that German pension have about their bond yields and predicted the US Federal Reserve will increase interest rates by next year.
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One in four German institutions replaced managers post-crisis
[17:05 CET 03-12] GERMANY – German ratings agency Feri has found some German institutional investors have replaced their asset managers in the wake of the recent financial turbulence.
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SNPF appoints Aegon for fixed income
[16:55 CET 03-12] NETHERLANDS – The €1bn Stichting Notarieel Pensioenfonds (SNPF) has awarded Aegon Asset Management a mandate to run part of its fixed income allocation and provide a fixed income overlay for an existing loans portfolio.
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AP3 targets corporate credit managers
[16:50 CET 01-12] SWEDEN – Tredje AP-fonden (AP3), the third Swedish National Pension Fund is seeking a number of corporate credit bond managers for its SEK188.6bn (€18.1bn) fund.
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Pension schemes warned to prepare inflation-proof strategies
[16:15 CET 30-11] GLOBAL/UK – Pension funds and other institutional investors, particularly those with inflation-linked liabilities, have been advised by Watson Wyatt to plan ahead for a return to high inflation, even though suitable investments could in some cases prove expensive.
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Credit Suisse pension fund cuts equities
[16:00 CET 30-11] SWITZERLAND – Credit Suisse reduced the equity exposure in its Pensionskasse by 10 percentage points in September and October, but officials have indicated they may hike the fund's equity holding again soon.
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Investors seek new route for investment volatility
[15:15 CET 30-11] GLOBAL - New entrant to the indices market Thomson Reuters is in the process of developing benchmarks to help European and Asian institutional investors reduce volatility in their portfolios.
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Active managers should be performing by now - Halbis
[16:15 CET 24-11] GLOBAL - Many active asset managers have underperformed the market this year despite almost perfect conditions, according to Ian Barnett, global head of investment risk at Halbis.
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FRR awards €4bn to inflation-linked bond mandates
[14:30 CET 20-11] FRANCE - Fonds de reserve pour les retraites (FRR), the €31.9bn French national pension reserve fund, has awarded €4bn in bond mandates to six major managers
