Markets – Page 173
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News
PMA keeps cover ratio to 185%
[15:45 CEST 31-07] NETHERLANDS - The €1.1bn pension fund for pharmacies’ staff PMA has managed to maintain a cover ratio of approximately 185%, despite experiencing a 23 percentage point drop in the first half of 2008.
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Cheshire places £130m in high alpha fixed income
[13:45 CEST 29-07] UK – The £2.3bn (€2.8bn) Cheshire County Council Pension Fund has awarded three fixed income mandates, including £130m into two high alpha funds managed by Henderson Global Investors.
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PKZH suspends rebalancing on solvency drop
[16:30 CEST 28-07] SWITZERLAND – The CHF14.5bn (€8.9bn) City of Zürich Pension Fund has decided not to make any major changes to its portfolio in light of the credit crisis, even though its funding level has now dropped from 130% in 2007 to an estimated 116% today.
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Industry-wide fund searches for high-yield gains
[13:00 CEST 25-07] EUROPE – An industry-wide continental European pension fund is seeking to hire a global high-yield fixed income provider to manage a $80m (€51m) mandate, using IPE Quest.
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German CTA to award €350m TAA mandate
[16:10 CEST 22-07] GERMANY – A fiduciary manager in Germany acting on behalf of a German pension fund is looking for managers for a €350m tactical asset allocation (TAA) mandate, using IPE-Quest.
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News
Cambridgeshire goes passive
[12:35 CEST 21-07] UK – The £1.4bn (€1.8bn) pension fund of UK local authority Cambridgeshire county council has awarded a £140m passive equity mandate to State Street Global Advisors (SSgA).
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NewsBuckinghamshire seeks three new managers
[15:41 CEST 16-07] UK – Buckinghamshire County Council is searching for three new investment managers for its pension scheme, with the mandates valued up to £325m (€408m).
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NewsHSBC launches two emerging economies funds
[14:26 CEST 16-07] EUROPE - HSBC Global Asset Management has launched both a Frontier Markets equity fund and an Emerging Markets Inflation-linked bond fund for European investors.
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Fund to award €50m small cap brief
[15:45 CEST 09-07] EUROPE – A continental European pension fund is looking for a manager for a €50m pan-European equity small cap core mandate, using IPE Quest.
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Credit crunch pushes pension flight from equities
[12:15 CEST 08-07] UK – Nearly half of pension scheme managers have shifted their investments from equities to bonds during the past 12 months, according to research released by Aon Consulting.
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German CTA to award €45m debt mandate (amended)
[16:20 CEST 07-07] GERMANY – A fiduciary manager has revealed a German pension fund client is looking for managers for a $70m (€45m) Eurozone debt mandate, using IPE Quest. (Amended with updated closing date)
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Danes at front of mining firm scrutiny over Zimbabwe
[16:15 CEST 01-07] GLOBAL – PFA Pension, the second-largest Danish pension scheme, has joined a group of influential European pension funds and opened dialogue with mining company Anglo American over its mining activities in Zimbabwe.
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Berkshire to increase alternatives exposure
[16:30 CEST 30-06] UK – The £1.49bn (€1.88bn) Royal County of Berkshire Pension Fund has confirmed its intention to move into emerging market debt and infrastructure with the issue of two new manager tenders.
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News
ABP becomes Fortis’ second-largest shareholder
[15:15 CEST 30-06] NETHERLANDS – The €218bn giant Dutch pension fund ABP has confirmed it is now the largest shareholder of Fortis, after Chinese insurer Ping An.
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German investor mulls Asia pacific replacement
[13:00 CEST 26-06] GERMANY – A German corporate investor wants to launch a €100m Asia Pacific equity all/large mandate and is looking for managers, using IPE-Quest.
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Dutch funds see equities fall €32bn
[16:30 CEST 25-06] NETHERLANDS – Dutch pension funds saw the value of their equity portfolios drop by another 6% in the first quarter of 2008 because of continued unrest on the financial markets, the Dutch central bank DNB said today.
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PGGM: 'ETFs have serious drawbacks’
[16:00 CEST 25-06] NETHERLANDS – Rob Radecker, head of beta at PGGM, the asset manager of the €88bn Dutch health care fund, believes exchange-traded funds (ETFs) have “serious drawbacks” for large pension fund investors.
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NewsTalking Point: Responsible investment or political interference?
TALKING POINT – Anglo American, the mining giant, issued a statement today on the back of widespread criticism about its plan to invest £200m ($400m) in a platinum mine in Zimbabwe.
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News
IMF tells Austria to 'ease investment restrictions'
[14:00 CEST 24-06] AUSTRIA – Regional restrictions on equity exposure in third-pillar pension vehicles might be detrimental to the funds' performance, the International Monetary Fund (IMF) has suggested.
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Fund seeks market neutral strategy
[13:35 CEST 24-06] EUROPE – A continental European pension fund is looking for a discretionary fundamental equity market neutral strategy, using IPE-Quest.
