Markets – Page 188
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Greek bank sets up Turkish pension firm
GREECE - The National Bank of Greece (NBG) is establishing a pension insurance company in Turkey through its majority ownership at Turkey’s Finansbank.
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Pension funds go for Greek bonds (update)
GREECE – Pension funds were among the buyers of €3.5bn in inflation-linked long-dated bonds issued by the government yesterday (updates to delete Greek).
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Henderson opts for LDI for own scheme
UK – Asset manager Henderson Global Investors is to shift its own defined benefit pension scheme into a Liability Driven Investment structure.
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Ex-ABP chief outlines Axial strategy
NETHERLANDS/UK – Jan Straatman, the former capital markets head at Dutch pension giant ABP, has outlined his investment strategy for new London-based asset manager Axial.
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Euroclear sets up Frankfurt shop
GERMANY – Euroclear is opening an office in Frankfurt to challenge arch-rival Clearstream more oprenly on its home turf.
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K2 on acquisition trail after TA deal
GLOBAL - K2, the US based fund of hedge funds business, is to search for European and Asian acquisition targets following a deal with TA Associates, which is to take a “substantial minority stake” in the business.
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Netherlands re-opens long bond issue
NETHERLANDS – The Dutch State Treasury Agency (DSTA) will on May 8 re-open its 2005 30-year bond by tap auction.
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Take up of LDI strategies in UK ‘limited’
UK – The implementation of liability driven investment (LDI) strategies remains limited among pensions funds, according to the findings of a survey by Aon Consulting.
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SSGA wins 130/30 mandate from Asda pension fund
UK – The £1bn (€1.5bn) Asda group pension fund has chosen a 130/30 strategy for £165m of its global equity portfolio.
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Shetlands appoints equity, property managers
UK - The Shetland Islands local authority has appointed asset manager GMO to manage an £80m (€118m) specialist global equity mandate for its miscellaneous fund.
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PKA goes from passive to enhanced in US equities
DENMARK – Denmark’s largest occupational pension fund administrator, the DKK116bn (€15.6bn) Pensionskassernes Administration (PKA), has awarded a DKK1.85bn US enhanced equity mandate to Intech.
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Greek civil servant fund’s head resigns over bond row
GREECE - The president of the Greek Civil Servants Auxiliary Fund (TEADY), Agapios Simeoforidis, has resigned following bond-overpricing allegations.
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Finland central bank issues real estate tender
FINLAND - The €460m pension fund of Finland’s central bank, Suomen Pankki, is seeking an investment manager to handle its €25m indirect real estate portfolio.
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IPE-QUEST: Dutch funds seek Canada and Asia managers
NETHERLANDS - A Dutch corporate pension fund is using IPE-QUEST to look for a large cap Canadian equities manager for a $125m (€94m) mandate (QN735).
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ABP to disclose entire equity holdings
NETHERLANDS - At least four large Dutch pension funds have announced they will disclose the names of quoted companies in which they invest.
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Protection fund appoints five new asset managers
UK – The London-based Pension Protection Fund (PPF) has diversified its portfolio and appointed five new fund managers for its £305m (€446.3m) investment fund, set to grow to £5bn by 2009.
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Musgrave fund ups bonds, out of active mandates
DUBLIN – The €60m pension fund of Irish retailer Musgrave will reduce its exposure to equities in order to up its bond portfolio.
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FRR issues five tracking mandates for €5.8bn
FRANCE – The €32bn Fonds de réserves pour les retraites, France’s national pension surplus fund, has issued a handful of passive mandates for Eurozone and North American equities.
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IPE-QUEST: Danish fund in Japan search
DENMARK – A Danish pension fund is looking to appoint an active core large/all cap Japan equities manager using IPE-QUEST (QN722).
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United Nations to outsource $9bn US equities
GLOBAL – The $36.6bn (€27.7bn) United Nations Joint Staff Pension Fund (UNJSPF) has decided to outsource its $9bn US equities portfolio.
