COPENHAGEN - The 20 billion ($3.69 billion) Danish kroner Magistrenes Pensionskasse plans to revive its search for a Far Eastern manager this September, said Bjarne Boye Nielsen, head of investment.
The pension fund for university faculty and high school teachers postponed its search last year after turmoil in the emerging markets.
He said the fund probably will invest about 100 million kroner through a unit trust. The fund already has 120 million kroner invested in a Far East (ex-Japan) unit trust run by Schroder Investment Management, which will be considered for the future hire. Schroder manages another 46 million kroner for the fund in a global emerging markets unit trust.
The account will be funded from new cash flow.
No consultant is being used.
LONDON - Jupiter Asset Management Ltd. is launching the Eastern European Food Fund, which will primarily mainly in unlisted Eastern and Central European food and beverage company stocks and equity-related instruments. The closed-end fund already has attracted $80 million from institutional investors. It represents the first joint activity between Jupiter and its new parent company, Commerzbank AG.
Jupiter will manage the fund. It will be advised by the bank's Commerz International Capital Management Gmbh and Central Europe Trust Co. Ltd. The European Bank for Reconstruction and Development will subscribe 20% of the fund's total capital.
