ROMANIA - Fondul Proprietatea has announced a list of investment managers hoping to take part in the management of the scheme.
Over 20 managers have expressed an interest in taking over investment mandates, including HSBC, UBS, Deutsche Bank, Goldman Sachs Asset Management, Fortis and JP Morgan.
The Fondul appointed Schroders to act as adviser in selecting managers and said it intended to list on the Bucharest stock exchange in 2009.
At the moment, the Fondul is 15% owned by private citizens and 85% by the Romanian government. The government has said it intended to meet its compensation obligations by redistributing its own assets to claimants.
The Fondul's portfolio was made up of some 88 Romanian companies, many of which are pre-IPO or pre-privatisation and includes several strategically important energy companies.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.