Investment Management, Islamic Finance Correspondent
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Feb 8, 2010

Denmark’s ATP to up hedge funds, private equity: CEO

LONDON (Reuters) – Pension fund ATP, which manages 609 billion Danish crowns ($112 billion), is set to invest 1 billion crowns a year in hedge funds as part of a plan to create an “all weather” portfolio, the fund’s chief executive said.

Lars Rohde told Reuters on Monday the Danish Labour market pension scheme also planned to double its exposure to private equity.

Feb 5, 2010

Hermes to allow fees clawback

LONDON (Reuters) – Hermes Fund Managers will allow all its investors to claw back performance fees, the group told Reuters, in a move that could herald fundamental change in an industry battling client anger over excessive charges.

The firm — owned by BT’s <BT.L> pension fund — will roll out to its entire range the fee structure recently brought in at its hedge fund business as it aims to attract third-party mandates.

Feb 4, 2010

UK fund firm Hermes to allow fees clawback

LONDON, Feb 4 (Reuters) – Hermes Fund Managers will allow
all its investors to claw back performance fees, the group told
Reuters, in a move that could herald fundamental change in an
industry battling client anger over excessive charges.

The UK firm — owned by British Telecom’s <BT.L> pension
fund — will roll out to its entire range the fee structure
recently brought in at its hedge fund business as it aims to
attract third-party mandates.

Feb 4, 2010

Hermes opens credit boutique

LONDON (Reuters) – Hermes, the fund firm owned by the BT pension fund, said it has set up a new credit boutique with a 400 million pound investment from its parent as it seeks to drive third-party business.

The launch is part of a wider effort to grow Hermes’s third-party business, which Chief Investment Officer Saker Nusseibeh, said would aim to bring in 15 billion pounds from non-BT pension schemes in the next five years.

Feb 3, 2010

UK fund manager Hermes opens credit boutique

LONDON, Feb 3 (Reuters) – Hermes, the fund firm owned by the
BT pension fund, said it has set up a new credit boutique with a
400 million pound ($639.6 million) investment from its parent as
it seeks to drive third-party business.

The launch is part of a wider effort to grow Hermes’s
third-party business, which Chief Investment Officer Saker
Nusseibeh, said would aim to bring in 15 billion pounds from
non-BT pension schemes in the next five years.

Jan 27, 2010
via Funds Hub

Trust the Cadbury trustee to get a deal

Warren Buffet may think Kraft isn’t doing a good deal by taking over Cadbury. With Kraft shares falling, Cadbury’s shareholders may not think the deal too sweet either and some disgruntled British consumers may be appalled that a much loved brand will be sold to a non-British group – and one that sells  chocolate symbolised by a lilac cow at that.

But one party is sure to get a good deal: the Cadbury pension fund trustees.

While Cadbury fans are digesting the takeover news, the trustees have lost no time in seeking a dialogue with Kraft to make sure they do get a good deal for the workers they represent. Call it fiduciary duty if you like but be sure pension trustees, used to a sponsor that “stood behind the pension fund for more than a hundred years”, will give Kraft a hard and cold look to assess its credentials as a sponsor – what the pension industry calls in vaguely biblical terms “the covenant”. 

Jan 26, 2010

University fund to boost bonds by 1.4 billion pounds

LONDON (Reuters) -The 28 billion pound British universities pension fund is set to invest a further 1.4 billion in fixed income as it seeks to reduce its equity allocation in a bid to lower risk, its chief investment officer said.

The University Superannuation Scheme (USS) is also ploughing a similar amount into hedge fund investments.

Jan 25, 2010

UK university fund to boost bonds by 1.4 bln stg

LONDON, Jan 25 (Reuters) -The 28 billion pound ($45 billion)
British universities pension fund is set to invest a further 1.4
billion in fixed income as it seeks to reduce its equity
allocation in a bid to lower risk, its chief investment officer
said.

The University Superannuation Scheme (USS) is also ploughing
a similar amount into hedge fund investments.

Jan 22, 2010
via Funds Hub

Morning line-up

Clear thinking in an opaque industry

News and views on the hedge fund sector from Reuters and elsewhere:

Morgan Stanley to raise capital for hedge fund clients – Reuters

GLG Partners opens offices in Asia - Reuters

Cadbury deal to start debate on hedge funds’ role in takeovers – Times

Jan 21, 2010

HSBC fund eyes fresh investment grade demand

LONDON, Jan 21 (Reuters) – HSBC <HSBA.L> is launching a new
investment grade corporate bond fund, seeking to tap demand from
latecomers to a sector which saw dramatic returns last year.

The HSBC GIF Global Core Credit Bond will be run by the
bank’s specialist active management arm, Halbis, under chief
investment officer for fixed income Xavier Baraton.

    • About Cecilia

      "In my professional capacity I canvass fund managers, consultants and pension schemes on investments issues and write analytical pieces on investment trends. I also consult investors on M&A matters. My brief includes Islamic finance, especially sukuk issuance and Islam-compliant asset management themes. I joined Reuters News in September 2008 from Thomson Financial News, where I was European pension correspondent."
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