Markets – Page 198
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IPE-QUEST: Danish fund tenders emerging equities
DENMARK – A Danish pension fund has tendered up to $100m (€77.2m) in global emerging market all-cap core equities via IPE-Quest.
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Debate over UK university fund rages in press
UK – Debate over the coverage of the Universities Superannuation Scheme’s asset allocation continues to rage in the letters pages of the financial press.
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IASB chief rues “daft” discount rate situation
GLOBAL – International Accounting Standard Board chairman Sir David Tweedie has acknowledged the “daft” consequences of the current method of determining corporate pension liabilities.
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Novartis pension fund returns 6.2%
SWITZERLAND – Novartis’ pension fund, one of Switzerland’s biggest with CHF14.6bn (€9.3bn) in assets, has reported a return of 6.2% for 2005 - well below the 11% average for other Swiss schemes.
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Union Investment offers overtime accounts
GERMANY – Union Investment has become the latest German fund manager to offer so-called ‘overtime accounts’ – a vehicle that can be used by employees to finance early retirement.
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USS mulls €8.7bn switch from equities – FT
UK – The Universities Superannuation Scheme is considering a £6bn (€8.7bn) shift out of equities into alternative assets such as private equity and infrastructure investments, according to a news report.
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Lærernes Pension names three new managers
DENMARK - Lærernes Pension, the DKK20.1bn €2.7bn Danish teachers’ pension fund, has awarded mandates to Aberdeen Asset Management, MFS and Sydbank.
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Swiss teachers fund BLVK rejects legal action
SWITZERLAND – The CHF4.6bn (€2.95bn) Berne teachers pension fund BLVK says it won’t take legal action against those deemed responsible for its financial woes – despite calls from members.
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FIM Asset Management hires two from Nordea
FINLAND – FIM Asset Management has hired two executives from Nordea, with Petri Aho becoming head of international sales and Jouni Salmenkivi head of fixed income.
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Liontrust loses further €392m of pension assets
UK – Specialist UK equities fund manager Liontrust Asset Management says it lost £268m (€392m) of pension fund assets in the year to the end of March.
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IPE-QUEST: Danish fund tenders N. America equity
DENMARK – A Danish pension fund has tendered $100m+ in US and Canadian all-cap equities via IPE-Quest.
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Norway’s global fund awards five new mandates
NORWAY – The Government Pension Fund - Global assigned capital to five new mandates in the first quarter – one fixed income and four equities.
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Vervoer taps GSAM for €5.4bn fiduciary brief
NETHERLANDS – Dutch industry-wide transport fund Pensioenfonds Vervoer has appointed Goldman Sachs Asset Management to run a €5.4bn fiduciary mandate – resulting in a loss for incumbent F&C.
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IPE-Quest: two new searches on system
EUROPE – Two new searches, for convertible bonds and large-cap Japanese equities, have been added to the IPE-Quest system.
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Mellon unveils Dutch pension fund ‘universes’
NETHERLANDS – Mellon Analytical Solutions has announced the availability of a number of Dutch pension fund universes.
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Italian airline scheme appoints asset managers
ITALY - Fondav, the complementary pension fund for airline cabin crew, has appointed its first asset managers to manage a portfolio of more than €27m.
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Ageing will change investment behaviour - study
NETHERLANDS - The ageing of the population in Europe will probably lead to lower demand for equities and a higher appetite for bonds, says Dutch research institute Iris.
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IPE-Quest: Danish fund tenders US mid-caps
DENMARK – A Danish pension fund has tendered an expected $50m (€39.1m) in US mid-cap equities via IPE-Quest.
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UK’s Kent County Council rejigs manager roster
UK - The roughly £2.3bn (€3.4bn) Kent County Council pension scheme has axed Goldman Sachs Asset Management from a roughly £350m UK and overseas equities mandate amidst a strategic asset reshuffle at the scheme.
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CalPERS names 11 new managers
GLOBAL – The California Public Employees' Retirement System, the $210bn (€163.8bn) public pensions giant, has selected 11 active international equity managers to manage portfolios in developed and emerging markets.
