Allocations

Two UK pension schemes allocate to Emirates NBD Shariah fund

Editor — Tue, 11 Dec 2012 17:30:07 +0000

Article Synopsis:

Two UK pension schemes have chosen a fund run by Dubai-based Emirates NBD to provide a diversified Shariah-compliant option for its savers.

The BlueSky Pension Scheme and the Pensions Umbrella Trust, both advised by Dean Wetton Advisory, will allocate to the Emirates Islamic Global Balanced Fund, a multi-asset fund which invests in sukuk and murabaha as well as equities, real estate and alternatives.

Scottish Life amends EM portfolio, bearish on Mena

Editor — Sun, 23 Sep 2012 23:00:00 +0000

Article Synopsis:

Scottish Life is to include a new emerging market fund in its portfolio from December, Mena FM can exclusively reveal

Scottish Life is to include a new emerging market fund in its portfolio from December, Mena FM can exclusively reveal.

In a portfolio reshuffle, the pension fund will replace the Henderson Emerging Markets Opportunitiesfund with the JP Morgan Emerging Markets fund, which invests just over 3% of its portfolio in Turkey.

Although the pension fund’s existing portfolio contains some exposure to Mena, Investment marketing manager Lorna Blyth told Mena FM that she is taking a cautious approach to investment opportunities in the region.

EBRD makes first Mena fund allocations

Editor — Fri, 21 Sep 2012 15:19:05 +0000

Article Synopsis:

The EBRD has confirmed an initial series of investments in Mena funds worth €68m ($88.4m)

The European Bank for Reconstruction and Development (EBRD) has confirmed an initial series of investments in Mena funds worth €68m ($88.4m).

Jordan’s InvestBank will receive $30m for international trade-finance projects and the Maghreb Private Equity Fund III run by AfricInvest-TunInvest, a private equity firm in Morocco and Tunisia, will be given €20m for lending to SMEs.

Morocco’s Societe Generale Marocaine de Banques will receive a €20m loan in two equal payments for lending to micro-enterprises and SMEs as well as a €5m trade-finance facility.

OPIC to invest $150m in Abraaj Capital’s SME Fund

Editor — Tue, 11 Sep 2012 23:00:00 +0000

Article Synopsis:

The US government’s OPIC will invest $150m in Dubai-based Abraaj Capital’s Riyada Enterprise Development Growth Capital Fund

The US government’s Overseas Private Investment Corporation (OPIC) has signed a commitment to invest $150m in Dubai-based Abraaj Capital’s Riyada Enterprise Development Growth Capital Fund.

The $400m fund is managed by Aureos Capital and has a remit to invest in SMEs across Mena, with an emphasis on Egypt.

IPERS hires first emerging market debt manager

Editor — Wed, 05 Sep 2012 10:32:14 +0000

Article Synopsis:

The $23.7bn Iowa Public Employees’ Retirement System (IPERS) made its first allocation towards emerging market debt, Mena FM has learned

The $23.7bn Iowa Public Employees’ Retirement System (IPERS) made its first allocation towards emerging market debt, Mena FM has learned.

The new hire of $350m to Western Asset, which was authorised at the IPERS’ June 21 board meeting, is subject to successful contract negotiations which are nearing completion.

“IPERS is looking to diversify its fixed income portfolio by adding EMD, a mandate that will include sovereign and corporate credits, as well as USD and local currency denominated bonds,” Karl Koch, CIO of IPERS told Mena FM.

SBCERA makes new allocations to EM managers

Editor — Fri, 31 Aug 2012 13:00:01 +0000

Article Synopsis:

The $6.1bn San Bernardino County Employees’ Retirement Association (SBCERA) has allocated $90m to three new emerging market managers, Mena FM has learned

The $6.1bn San Bernardino County Employees’ Retirement Association (SBCERA) has allocated $90m to three new emerging market managers, Mena FM has learned. A figure of $30m each has been distributed to the new hires, approved at a board meeting on 2 August.

Flintshire awards Aberdeen frontier mandate

Editor — Thu, 30 Aug 2012 15:15:58 +0000

Article Synopsis:

Flintshire County Council Clwyd pension fund has awarded its first frontier mandate to Aberdeen Asset Management, Mena FM can exclusively reveal

Flintshire County Council Clwyd pension fund has awarded its first frontier mandate to Aberdeen Asset Management, Mena FM can exclusively reveal.

The £1.1bn ($1.75bn) fund opened issued the frontier tender in March 2012, stating that it was searching for a single manager pursuing anequity-focused strategy that may also invest in debt and/or property. Following a four-month long search process, It chose Aberdeen to manage the £7m mandate, which includes exposure to markets across the Mena region.

Securian eyes Mena for future mandates

Editor — Wed, 29 Aug 2012 11:28:07 +0000

Article Synopsis:

US pension fund Securian Retirement is seeking Mena fund managers for future emerging markets mandates, Mena FM can reveal

US pension fund Securian Retiremnt is considering Mena fund managers for future emerging markets mandates, Mena FM can reveal.

In August, The Minnesota-based retirement fund announced that the Wells Fargo Advantage Emerging Market Equity and the Vanguard Emerging Market Stock Index will share a $20m mandate to invest in emerging markets on its behalf.

Scottish pension invests $47m in Aberdeen frontier fund

Editor — Wed, 22 Aug 2012 23:00:00 +0000

Article Synopsis:

The £2.2bn ($3.5bn) North East Scotland Pension Fund (NESPF), managed by Aberdeen City Council, has allocated £30m to a frontier market-focused fund giving it exposure to Mena markets including Qatar, Oman and Egypt

NESPF’s pension panel met in Q2 of this year to consider proposals for ‘alternative investments’ from the city’s namesake, Aberdeen Asset Management. The pension panel approved a £30m investment in the Aberdeen Asset Management Frontier Markets Equity Fund to be invested over a 12-month period.

Ann Arbor gives Stone Harbor $8m EM mandate

Editor — Wed, 11 Jul 2012 09:10:45 +0000

Article Synopsis:

The City of Ann Arbor Employees' Retirement System allocated 2% of its $400m AUM to emerging markets debt, following a recommendation by advisory firm Maketa Investment Group

The City of Ann Arbor Employees' Retirement System allocated 2% of its $400m AUM to emerging markets debt, following a recommendation by advisory firm Maketa Investment Group.

At a meeting on 15 March, the Retirement Board of Trustees approved the hiring of Stone Harbor Investment Partners to manage the allocation. The New York-based investment management firm has now been funded with $8m of the retirement system’s equities portfolio, which was partly diverted from its existing investments in the Russell 1000 ($4m), S&P 400 ($2m) and Loomis Sayles ($2m).

Mena SWFs increase local allocations

Editor — Sun, 03 Jun 2012 00:00:00 +0000

Article Synopsis:

Sovereign wealth funds (SWFs) are increasing their investments into the Mena region, according to the third annual Invesco Middle East Asset Management Study

Sovereign wealth funds (SWFs) are increasing their investments into the Mena region, according to the third annual Invesco Middle East Asset Management Study.

According to the study, SWFs are fundamental to the GCC asset management industry and account for 88% of existing investable assets and 74% of new assets. The study also found that capital is flowing from the wider Mena region into the GCC, although this is not a uniform trend.

OFI set to increase Egypt allocations

Editor — Fri, 04 May 2012 09:10:10 +0000

Article Synopsis:

OFI Asset Management hopes to increase its investment into Egypt by up to 20%, Mena FM can exclusively reveal

OFI Asset Management hopes to increase its investment into Egypt by up to 20%, Mena FM can exclusively reveal.

Astrid Fredericksen, portfolio manager of OFI Multiselect BRICA Fund, which has an AUM of €70m ($91.9m), told Mena FM that it hopes to dedicate more cash to the North African country in the “near future”. The fund was originally launched by OFI Asset Management as a traditional BRIC fund, but was adapted last November to include Africa and Middle East in its mandate.