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.
The $2.2bn (e1.8bn) pension fund has been examining the asset classes over the past two years and has a long-term plan to allocate 5% to foreign bonds and around 3-5% to private equity. The fund’s CIO...
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 - 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.
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.
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 - 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.