All IPE articles in April 2005 (Online)
View all stories from this issue.
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Petroleum Fund plans €819m forex move
NORWAY – The Norwegian central bank plans to make more than €800m of foreign currency purchases for Petroleum Fund next month.
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Dutch PM speaks out against early retirement
NETHERLANDS - Dutch Prime Minister Jan Peter Balkenende has spoken out strongly against early retirement – adding that the new levensloop marks a crucial change of direction.
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BGI launches pooled liability funds
GLOBAL – Barclays Global Investors has launched 20 pooled liability driven investment funds with more than £1bn (€1.45bn) in assets.
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Dutch company funds have adapted – central bank
NETHERLANDS - Most Dutch company pension funds seem to have adapted well to the changing environment, although industry-wide schemes however haven’t yet completed the recovery process, says the central bank.
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CSAM sets up tax-efficient vehicles for schemes
SWITZERLAND - Credit Suisse Asset Management has launched two new tax-efficient investment vehicles for US equities which are exclusively aimed at Swiss pension funds.
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UK schemes to get more disclosure from managers
UK – UK pension funds are to get more disclosure about their asset managers’ trading commissions from next year, under new proposals put together by the industry and the Financial Services Authority.
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Ireland legislates for pension pooling
IRELAND – The Irish government is preparing legislation to provide the framework for asset pooling by pension funds.
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Ex-Mercer president’s final bonus was down 39%
GLOBAL – Peter Coster, the former president of consulting firm Mercer, saw his bonus in his final year at the firm decline by more than 39%.
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European schemes 'need up to 10% asset growth'
EUROPE - A new report from J P Morgan claims European corporate pension schemes will need to grow their assets by up to 10% a year - assuming no extra contributions are made - to maintain their funding level.
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Belgian schemes returned 8.6% in 2004 - study
BELGIUM – Belgian active pension funds returned an average 8.6% in 2004 - buoyed up by returns in equities and real estate, according to Mercer Human Resource Consulting.
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Iceland’s Kaupthing in talks to buy UK’s Singer
ICELAND/UK – Icelandic bank Kaupthing, which has made a series of European acquisitions since 1998, is in talks to buy UK asset manager Singer & Friedlander.
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Actuaries Lane Clark names three new partners
UK - Consulting actuaries Lane Clark & Peacock has named three new partners: Ian Gamon, Aiden Coloe and Mary McGrath.
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Analyst in “zombie investor” jibe at schemes
GLOBAL – Pension funds – along with other investors such as Asian banks and Japanese private investors – have been branded “zombie investors” by a respected economic commentator.
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Capital in “performance difficulties” - Hymans
UK – Capital International’s “performance difficulties” may hinder its ability to win new business in the UK, says investment consultant Hymans Robertson.
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Dutch pensions research network launched
NETHERLANDS - The Netspar pensions research network has been formally launched at Tilburg University in the Netherlands.
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UK fund managers eye headcount expansion
UK – Fund management firms see improving business sentiment and expect to grow their headcount, according to a new survey.
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Northern Trust names fund services executive
EUROPE - Northern Trust has named Clearstream International’s Sue Baines as vice president of business development in its global fund services team in London.
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ABP expects compensation from Shell
NETHERLANDS – Stichting Pensioenfonds ABP, the largest Dutch fund, expects it could receive compensation from Shell following US legal action relating to the oil giant’s overstatement of its reserves.
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Shell to contribute $1.4bn to DB schemes
UK – Oil giant Shell plans to contribute an estimated $1.4bn (€1.1bn) to its defined benefit pension plans this year.
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‘Over 75 UK schemes’ allocate to hedge funds
UK – More than 75 UK pension funds have made allocations to hedge funds, according to a report from Morgan Stanley.
