Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Innovation Investing Conference
    • 2022 Defined Contribution East Conference
    • 2022 ESG Investing Conference
    • 2022 DC Investment Lineup Conference
    • 2022 Alternatives Investing Conference
Breadcrumb
  1. Home
  2. Print
August 09, 1999 01:00 AM

FIRST QUADRANT RAISES $140 MILLION FOR POOLED FUNDS

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    LONDON -- First Quadrant has raised $140 million for four market-neutral pooled funds covering the United States, the United Kingdom, Japan and a combination of the three markets.

    About $50 million came from U.K. pension funds, with some money also coming from an unidentified U.S. pension fund and off-shore investors.

    The publicly traded pooled fund, known as the Antiope Alpha Fund, is an unregulated collective investment scheme. It is based in Dublin, Ireland, to avoid legal problems U.K. pension funds face when investing in short positions.

    Lloyds tells custody clients to move assets to State Street

    LONDON -- Lloyds TSB Group has decided to exit the custody and unit trust trustee business, recommending its 430 clients transfer their business to State Street Bank.

    Officials at Lloyds TSB, with L140 billion ($221 billion) in assets under custody, noted the bank was a relatively small player and could not afford the infrastructure investments required to stay competitive.

    Lloyds, one of the largest custodians for U.K. pension funds and one of the largest trustees to the U.K. unit trust industry, is dwarfed by State Street's $5.3 trillion in assets under custody. Terms of the arrangement were not disclosed.

    Ken Farquhar, managing director of Lloyds TSB's securities business, said the bank hopes to avoid layoffs of the 1,100-person staff through turnover, early retirement and internal transfers.

    Fund buys big stake in Brazil's Traffic

    DALLAS -- Hicks, Muse, Tate & Furst acquired a 49%ownership interest in Traffic, a Brazilian company that controls the broadcast, cable and pay-per-view rights to many high-profile Latin American soccer events, including those of the Brazilian National Team. Terms of the deal were not revealed.

    Investors in Hicks' $964 million Latin American fund include the $23 billion Public Employees' Retirement Association of Colorado, Denver; $91 billion General Motors Investment Management Co., New York; $1.6 billion Houston Firefighters' Relief & Retirement Fund; $39.6 billion Ontario Teachers' Pension Plan Board, Toronto; and the $2.2 billion endowment of the University of Chicago; and $1.3 billion endowment of Vanderbilt University, Nashville, Tenn.

    Private plans in Europe give more assets to managers

    LONDON -- Outsourcing by European pension funds and insurance companies is on the rise, according to a new study by InterSec Research. The survey of more than 300 senior investment officers in charge of more than E1.5 trillion ($1.56 trillion) found that 25%of all assets are managed by external money managers, up from 18%four years ago.

    Key findings include: private pension funds hand out about half of their assets to external managers, while public pension funds award only 31%of assets to outside managers; average accounts given out by private and public pension funds were E262 million and E277 million, respectively; balanced portfolios have dropped sharply to 26%of all externally managed allocations from 45%in 1994.

    Domestic equity allocations now comprise 18%of all those externally run, up from 10%four years ago. International equity accounts dipped one percentage point to a 27%market share. Passive allocations now are responsible for 13%of all external mandates, up from 9%in 1994. However, passive allocations tend to be larger than active ones, and the strategies now account for 21%of externally mandated assets, up from 12%four years ago.

    Real estate fund sets sights on Southeast Asia

    SINGAPORE -- Prudential Real Estate Investors has raised $430 million for its Asian Property Partners fund, which will be managed by the firm's Asian investment affiliate, Global Realty Advisors. The fund will seek opportunistic real estate investments in East and Southeast Asia, according to Bernard Winograd, CEO of Prudential Real Estate Investors. Initially it will target Hong Kong, Singapore and Thailand, but will consider investments throughout Asia. The fund expects to have the committed capital fully invested by December 2000. It has already invested $70 million, primarily in real estate operating companies in the region.

    New Asia-Pacific indexes launched by Dow Jones

    NEW YORK -- Dow Jones Indexes in July announced the Dow Jones Asia Pacific Extra Liquid Series, a set of equity indexes designed for retail and institutional investors seeking index-linked investments in the Asia-Pacific region.

    Indexes based on Australia, Hong Kong and Japan will be the initial offerings in the AP/ELS series.

    The indexes were designed with assistance from the Sydney Futures Exchange.

    The first investment products based on the 35-stock Australia, 30-stock Hong Kong and 100-stock Japan Dow Jones AP/ELS indexes will include warrants, equity-linked notes and mutual funds.

    Trading on the AP/ELS Australia index is scheduled to start in the third quarter, with trading on Hong Kong, Japan and a possible regional Asian index following in early 2000.

    Trading on the indexes will take place on the SFE, using its 24-hour electronic trading system, SYCOM IV.

    Dow Jones has also created a broader index made up of 150 components index for Australia, the Dow Jones global indexes-Australia, which is intended for use by fund managers and will have a high correlation with the 35-stock Australia AP/ELS index.

    Japanese businesses improve corporate governance

    WASHINGTON -- Japanese firms made significant strides in improving their corporate governance practices during the current proxy season, according to a study by Institutional Shareholder Services.

    Of the 1,600 companies covered in June, ISS said, there were improvements in the number of independent outside directors, the disclosure of individual compensation levels for directors and top executives, the annual election of directors and the more timely release of proxy materials to shareholders.

    "As one Japanese institution put it, 1999 is Year 1 for corporate governance in Japan," said Marc Goldstein, global analyst at ISS. "Investors have complained for years about Japanese companies' notorious late release of proxy materials for shareholder meetings. . . . With more than 2,000 companies holding annual meetings in late June every year, shareholders with more than a few Japanese firms in their portfolios have great difficulty in processing the information and making voting decisions on time.

    "This year for the first time we saw a significant number of companies, including Sony Corp., Hitachi Ltd., Honda Motor Co. Ltd. and Nikko Securities Co. Ltd., releasing materials three weeks or more before the meeting date. Because of this, we in turn were able to deliver most of our analyses to institutional investors 15 days before the meeting date, a marked improvement over last year," he said

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    Alternatives: Investing Across the Spectrum
    Sponsored Content: Alternatives: Investing Across the Spectrum

    Reader Poll

    May 9, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Are Factors a Thing of the Past?
    Q2 2022 Credit Outlook: Carry On
    Leverage does not equal risk
    Is there a mid-cap gap in your DC plan?
    Out of the Shadows: The Revolution in Shadow Accounting
    The pivotal role of fixed income markets in the ESG revolution
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    May 9, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Innovation Investing Conference
      • 2022 Defined Contribution East Conference
      • 2022 ESG Investing Conference
      • 2022 DC Investment Lineup Conference
      • 2022 Alternatives Investing Conference