Report
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February, 2013
Berkshire goes global in search of income
The Royal County of Berkshire Pension Fund has appointed Kames Capital to manage a £70 million global equity income mandate. The appointment has been seen as a sign of a greater emphasis on income by pension funds, as they need to ensure benefits are paid, in the face of low yields on UK government bonds. Kames Capital head of ...
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February, 2013
Better days ahead for the global economy – probably
In its latest six month outlook for the global economy, Aviva Investors’ investment strategy team has placed a 65% probability on the “better days” scenario following quantitative easing announcements in September from the Federal Reserve, the European Central Bank and the Bank of Japan. But Aviva added that the 20% probability given to ...
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February, 2013
Islington commits to residential property
Islington Council Pension Fund is to invest £20 million in residential property with Hearthstone Investments. It is believed to be the first London borough council pension fund to invest in residential property. Islington will invest in the Hearthstone UK Residential Property Fund which is understood to be the UK’s first residential ...
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February, 2013
Aberdeen cautious on Japanese election result
Investors should not expect the recent landslide election win of the LDP in Japan to boost investment prospects, according to Aberdeen Asset Management head of Japanese equities Chern-Yeh Kwok. Kwok said that the incoming prime minister, Shinzo Abe, has campaigned for an end to deflation, with an inflation target of 2-3%, a higher ...
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February, 2013
DB liability valuation changes could have significant impact
The announcement by the Chancellor in the autumn statement of consultation over how defined benefit (DB) liabilities are valued could lead to significant changes, according to fund manager Schroders. Jonathan Smith of Schroders’ UK strategic solutions said that the autumn statement put forward two potentially significant changes for ...
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February, 2013
The LAPF Strategic Investment Forum: an interview with the chairman
With the second annual LAPF Strategic Investment Forum just round the corner, Brian Gielty, editor of LAPF Investments, asks Forum chairman John Harrison about some of the key issues which are emerging for local authority pension funds. Brian Gielty: Hello John. In advance of this year’s conference, we canvassed the opinions of local authority pension ...
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December, 2012
Warning as further pain predicted for Spain
Schroders' chief economist, Keith Wade, has warned that Spain is in danger of becoming the new Greece as its economic crisis worsens. Following the recent cut in Spain's credit rating to BBB- from BBB+, Wade said that while Spain plays a waiting game over requesting help from the European Central Bank, there is a growing danger of a run on the banks, as ...
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December, 2012
Changes to inflation index criticised
News that the Office for National Statistics is to consult over changes to the calculation of the retail prices index (RPI) has been criticised by Barnett Waddingham consultant Malcolm McLean as “constant moving of the goal posts” which will make planning harder for sponsors and members. McLean added: “It would be ironic to say the least if the ...
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December, 2012
Asian bonds to boom
Western Asset, a subsidiary of Less Mason, has predicted that demand for Asian bonds will stay firm, based on sound fundamental and a longterm macro-economic shift. Looking at Asian bonds, Western Asset said the region has improving structural fundamentals, with strong government balance sheets, balance of payments surpluses and reduced external debt ...
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December, 2012
“New Normal” climate to favour smaller, nimbler hedge fund managers
According to Dutch hedge fund incubation platform, IMQubator, smaller and younger hedge funds are better suited to the current market conditions. It cited a new report by PerTrac, Impact of Size and Age on Hedge Fund Performance: 1996 – 2011, as evidence for the view that smaller, newer funds will do better in a low interest rate, low growth ...
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