Iceland
Icelandic pensions scoop 25% of geothermal company HS Orka
ICELAND - A group of Icelandic pension funds will buy a 25% stake in geothermal power company HS Orka for ISK8.06bn ($71.5m) from Magma Energy, the firm said.
Iceland pension funds to block $2bn debt relief
ICELAND - Iceland's pension funds, which hold the bonds behind most of the country's mortgage debt, will try to block proposals to forgive as much as $2bn in bad loans that the government says it is considering.
OECD: Assets to GDP ratio declines to 63.4% in 2008
GLOBAL - The average assets to gross domestic product ratio for OECD pension funds dropped from 75.5% of GDP in 2007 to 63.4% in 2008, according to the Organisation for Economic Co-operation and Development.
Goldman Sachs and Morgan Stanley join forces to launch ETF range
IRELAND- Goldman Sachs and Morgan Stanley have partnered to launch a range of ETFs under the name of Source. The range has recently received approval from the Irish Financial Services Regulatory Authority for the listing of 50 ETFs.
Iceland turns to pension funds for help
ICELAND - Iceland's government is still struggling to find enough resources to rescue its banking system and has called on the country's local pension funds to repatriate foreign assets.
Festa lífeyrissjóður invests in hedge funds
ICELAND - The ISK61bn (US$681m) Festa lífeyrissjóður has appointed Optima Fund Management to run a new hedge fund investment worth €5m (US$7.3m), according to MandateWire.
Iceland increases assets for pension payments
ICELAND - Net assets for pension payments increased by ISK200bn (US$2.4bn) during 2007, a report by the Icelandic Financial Supervisory Authority (FME) has found.
Icelandic funds feel the chill
ICELAND - The real returns of Icelandic pension funds are expected to be as low as 0% to 1% for 2007 because of poor performing domestic equities, but experts remain unconcerned about the long term health of the funds.
Merrill Lynch adds to Nordic team
Merrill Lynch Investment Managers (MLIM) has recruited Tomas Bristedt to its retail wholesale Nordic team, with responsibility for the Nordic region.
Iceland's pension burden "negligible" - Oddsson
ICELAND - The impending burden of pension payments on the Icelandic treasury will be negligible compared to most other industrialised countries thanks to the pension system's remarkably strong economic position, said Central Bank of Iceland board of governors...
Icelandic funds up over 21% in 2005
ICELAND - Icelandic pension funds continued their strong performance as they grew 213bn to nearly ISK1.2trn (e13.6bn) in 2005.
Icelandic fund searches for hedge fund managers
ICELAND - The e250m Co-operative pension fund is in the process of searching for one to two hedge fund managers in line with its plans to allocate 3% of its total assets to the alternative asset class.
Engineers pension fund to hike allocation to alternatives
ICELAND - The Lifeyrissjodur Verkfraedinga, the engineers pension fund, is planning to revise its asset allocation structure to include an increased allocation to alternatives.
Icelandic pension fund set to foray into hedge funds
ICELAND - The Co-operative Pension Fund is set to invest 3% of its total assets in hedge funds.
Icelandic fund spies private equity, foreign bonds
ICELAND - The pension fund for state employees (LSR), the largest pension fund in Iceland, has made its first foray into private equity and is now weighing investments in hedge funds and foreign bonds.
Iceland's biggest fund hires State Street
ICELAND/US - State Street has been appointed to its first custody mandate in Iceland.
Exclusive: LSR to seek managers for equities
ICELAND - The massive US$1.3bn (EUR1.3bn) Icelandic Public Employees Pension Fund (LSR) the country's largest, is looking to raise its overseas equities allocation to 40% by 2006, in a move that should lead to a raft of new mandates.
Iceland conferences announced
ICELAND - The Institute of Economic Studies at the University of Iceland and the research network of the International Network of Pension Regulators and Supervisors (INPRS) have announced two half-day workshops in Reykjavik, Iceland.
EXCLUSIVE: Icelandic fund reviews overseas equities
ICELAND - An icelandic pension fund is looking to review its overseas equities portfolio.
EXCLUSIVE: Icelandic funds ponder EUR136m merger
ICELAND - Four Icelandic pension funds are considering pooling their assets, in a move that could lead to the retendering of about Ikr1.2bn (approximately EUR136m).
JP Morgan adds Iceland to custody network
ICELAND - Global custody and fund administration firm JP Morgan Investor Services has extended its market coverage in the Nordic region adding Iceland to its network.
