ICELAND - The Co-operative Pension Fund is set to invest 3% of its total assets in hedge funds.
Margeir Danielsson, managing director of the e250m fund, said that the fund had decided to adopt the fund-of-fund route and was expected to appoint managers later in the year. “We feel that fund-of-funds...
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.