Markets – Page 167
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News
Irish funds drop 23% 'but could have been worse' - IAPF
[16:30 CEST 31-03] IRELAND – Irish pension schemes lost almost €20bn in 2008, but this is “less than might have been expected” following reductions in equity allocations to domestic stocks, The Irish Association of Pension Funds (IAPF) has revealed.
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South Yorks seeks bonds as Pioneer delivers GEMs in Somerset
[16:20 CET 24-03] UK – The South Yorkshire Pension Fund is searching for at least one UK corporate bond investment manager with a mandate of up to £300m (€326m).
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Quest begins to find commodities and GEMs
[17:05 CET 20-03] IPE QUEST – A Swiss pension fund is looking CHF400-600m (€261-392m) in commodities in a global mandate sought through IPE-Quest.
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Pension scheme looks to China
[16:55 CET 13-03] NETHERLAND – A Dutch pension scheme is looking for an asset manager to run a €10m Chinese equity mandate, using IPE-Quest.
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Dutch schemes lost €86bn in Q4
[16:10 CET 13-03] NETHERLANDS - Dutch pension funds’ combined investments in equity and fixed income decreased by 19% to €529bn during the fourth quarter of 2008, according to De Nederlandsche Bank.
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Hackney moves into currency as BGI disappoints
[15:50 CET 13-03] UK - The London Borough of Hackney has appointed FX Concepts to run a specialist £150m (€162m) active currency programme for its local government pension scheme.
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FSA attacks investors for not doing enough
[17:00 CET 12-03] UK - Institutional investors have a "major role" to play in addressing issues arising from the current financial crisis, as they share responsibility for the actions of companies and the resulting consequences, the UK's financial regulator has warned.
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LGIM picks up East Sussex mandate
[16:50 CET 12-03] UK - East Sussex County Council has appointed Legal & General Investment Management (LGIM) to run a specialist £275m (€295m) passive UK equity mandate.
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Pension deficits are 'important factor in stock picking'
[15:30 CET 12-03] UK - Executives managing corporate pension schemes have been warned pension scheme deficits are an important factor when considering which companies to invest in, according to Fidelity’s figurehead investment expert Anthony Bolton.
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Fidelity loses Tyne & Wear's UK mandate
[17:15 CET 10-03] UK – The £3bn (€3.25bn) Tyne & Wear Pension Fund has confirmed it terminated its UK equity mandate with Fidelity at the end of last year.
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FRR still in search of US equity manager
[15:15 CET 10-03] FRANCE – FRR, the €27bn French national reserve pension fund, has signed seven firms to manage equities mandates worth €2.3bn, but is still searching for a suitable manager to take care of a €800m US equities active value account.
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VBV severance pay fund returns -0.17%
[17:10 CET 09-03] AUSTRIA – The VBV-Vorsorgekasse, the severance pay fund offered by Austria’s largest Pensionskasse, has performed better than the market average in 2008.
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NewsGerman pension vehicles to diversify - Mercer
[16:45 CET 06-03] GERMANY – Retirement providers in Germany are likely to maintain one of the lowest equity exposures in Europe as a result of recent market turbulence but will continue to diversify into other strategies, consultancy Mercer has told IPE.
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News
MPK underfunded for the first time
[17:10 CET 05-03] SWITZERLAND – The CHF14.8bn (€10bn) pensionskasse for the Swiss retail giant Migros (MPK) has fallen to a 97.1% funding level after delivering a negative return of 12.3% last year.
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Government pension fund - Norway drops €3bn
[17:00 CET 05-03] NORWAY – The Government Pension Fund – Norway lost NOK 29.6bn (€2.95bn) in 2008, according to the latest figures from Folketrygdfondet.
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Gov't shareholders are 'the new normal' - Pimco
[16:40 CET 04-03] GLOBAL – Asset management house Pimco is advising investors will have to rethink what makes a good investment in the coming years as governments are changing the investment game by acting as shareholders.
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Publica returns -6.86%
[17:05 CET 03-03] SWITZERLAND – The CHF30bn (€20.3bn) public service pension fund Publica saw its funding level drop by over 10 percentage points to 95.8% over the last year.
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Northern Rock records £31m accounting surplus
[16:55 CET 03-03] UK – Northern Rock has reported an accounting surplus in its defined benefit (DB) scheme of £31.7m (€35.4m), despite previous estimates by trustees of a £100m deficit.
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NewsAllianz GI sees lower income but eyes consolidation
[16:50 CET 03-03] EUROPE – Allianz Global Investors saw its net income fall by over 21.5% in 2008 on the back of lower investment returns and subsequently reduced performance fees, but officials are still looking for buying opportunities within the asset management sector.
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Bos attacks shareholder role in financial crisis
[15:00 CET 03-03] NETHERLANDS - “Shareholders did virtually nothing to prevent and manage the financial crisis”, Dutch finance minister Wouter Bos said this morning at a conference in Amsterdam.
