Buckinghamshire reviews pension fund managers
AYLESBURY, England - Buckinghamshire Council Pension Fund is reviewing its investment arrangements following an asset-liability and valuation study by consultant Watson Wyatt Worldwide, said Phil Triggs, council finance director.
Twenty-five percent of the %A3;711 million ($1.16 billion) plan's assets are managed passively by Barclays Global Investors; the remainder is split among balanced portfolios run by Fidelity Investments and Deutsche Asset Management, and a global equities portfolio run by Capital International.
Mr. Triggs declined to reveal when the review would be completed or if RFPs for managers would be issued.
OPAG seeks corporate bond, hedge managers
VIENNA, Austria - OPAG Pensionskasse issued RFPs for a global investment-grade corporate bond manager to run €150 million ($162 million) and a hedge-fund-of-funds manager to handle €40 million, said Walter Schmoiger, head of investments. Funding for both will come from reducing the €1.6 billion plan's domestic government bond and international equity portfolios, he said. Mr. Schmoiger did not give a deadline for proposals but said he expected selections to be made by midyear.
Insight Investment hires Northern Trust
DUBLIN - Insight Investment Management hired Northern Trust to provide administration, transfer agency and custody services for the new %A3;700 million ($1.1 billion) Insight Liquidity Fund, said Helen Barnes, Insight spokeswoman.
AP7 to study conversion's effect on portfolio
STOCKHOLM - AP7 is conducting an asset-liability study to determine how the $2.6 billion pension scheme's portfolio will be affected if Sweden's citizens vote to adopt the euro in September, said Daniel Barr, chief analyst. A vote in favor of the euro might lead to manager searches next year, Mr. Barr said, as current domestic managers might not be qualified to deal with the new currency. The study also will look into whether the plan should keep Swedish equities and bonds as separate classes, he said. The study is being conducted internally.
Canada Pension Plan up 3.1% in 4th quarter
TORONTO - Canada Pension Plan earned C$1.6 billion (US$1.05 billion) in the three months ended Dec. 31, for a return of 3.1%, said John MacNaughton, president and CEO of the Canada Pension Plan Investment Board. Investment income for the nine months ended Dec. 31 was C$114 million, resulting in a 0.8% rate of return.
As of Dec. 31, Canada Pension Plan had C$36.4 billion in fixed income administered by the Department of Finance in Ottawa and C$18.4 billion in equities and real estate managed by the CPP Investment Board.