IRELAND - The e10.59bn National Pensions Reserve Fund postponed itsdecision on an investment in hedge funds, commodities and emerging markets at its last meeting.
The issue of hedge funds was considered and deferred, said RonanO'Connor (pictured), head of risk management, portfolio construction and assetallocation, NPRF. We are still looking at hedge funds, but we haven't made a specific allocation to the category as yet.
The Commission is, however, firming up its allocation to property and private equity and intends to roll out these investments, before considering other alternatives.
Ian Gleeson, formerly of F&C in the UK, has been appointed to manage the fund's property exposure and the Commission is coming to a conclusion on who will be appointed to head up the fund's private equity portfolio.
Tactical asset allocation is another area under consideration by the Commission, although no decision has yet been made on future investments in this area.
Because the fund isn't fully invested, we're not proposing to use a tactical asset allocator, said O'Connor. We would use one when the fund gets to 100% invested.
The Commission next meets in mid December.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers