All IPE articles in April 2005 (Online) – Page 3
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Row erupts over Swiss first-pillar pensions
SWITZERLAND – A row has erupted over a union call for an enhancement to Swiss first-pillar pensions – with an employee association saying it is a “wrong signal”.
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Swiss schemes ‘invest more in alternatives’
SWITZERLAND – Swiss institutional investors have invested more in alternative asset classes and real estate in 2004 - but their asset allocation “remains prudent” a survey sponsored by Credit Suisse Asset Management suggests.
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Watson Wyatt to act over own UK pension deficit
UK – Pension consulting firm Watson Wyatt aims to make additional contributions to tackle a £5m (€7.2m) deficit at its own £108m pension scheme in the UK.
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Blue Sky hires market regulator’s Ruitenbeek
NETHERLANDS – Blue Sky Group, which manages the pension assets of airline KLM, has recruited Marga Ruitenbeek from the Dutch financial markets regulator for a new position within its investment team.
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Mellon investment consulting head leaves
UK – Paul Black, head of investment consulting at Mellon Human Resources & Investment Solutions, is to join Lane Clark & Peacock.
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MEPs want pension directive implemented
EUROPE - The European Parliament's main economic committee has called on European Union member states to make progress on implementing the directive on occupational pension funds.
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VB chairman van Popta sees no pension crisis
NETHERLANDS – Benne van Popta, co-chairman of the Dutch Association of Industry-wide Pension Funds, the VB, has said there is no crisis in the pension sector.
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General Electric outsources Dutch scheme to TKP
NETHERLANDS – The Dutch pension scheme of US industrial group General Electric is to outsource its pensions administration to Aegon’s TKP Pensioen.
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Dutch pension groups form governance platform
NETHERLANDS – A number of Dutch institutions, including Blue Sky Group, MN Services and builders’ pension scheme SFB, have set up a group to lobby listed companies to improve corporate governance, IPE has learnt.
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Varma separates investment and supervision
FINLAND – Varma, Finland’s largest private sector pension insurer, has separated its investment and supervisory functions and replaced its risk management committee.
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Dutch central bank to merge DNB and PVK schemes
NETHERLANDS - Finance minister Gerrit Zalm has told parliament in a letter that the two pension funds of the central bank will be merged and detached from the sponsor.
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Mercer sees SRI becoming mainstream
GLOBAL - Mercer Investment Consulting says socially responsible investment practices are becoming mainstream among investment managers.
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CSFB real estate’s Gallatly joins MLIM
UK - John Gellatly, a director in CSFB’s real estate investment banking team, is to join Merrill Lynch Investment Management as head of indirect real estate investment and strategy.
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UK local authorities ‘face €43bn pension gap’
UK - Local authorities’ pension schemes face a combined total funding shortfall of up to £30bn (€43.7bn), according to an actuarial valuation by the Chartered Institute of Public Finance and Accountancy.
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Devonport scheme taps PIMCO for swaps
UK - The £680m (€991.9m) Devonport Royal Dockyard Pension Trustees Ltd. pension fund has made its first investment in swaps and futures, appointing PIMCO Europe to manage a £105m bond mandate.
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Janus names global head of consultant relations
GLOBAL – Janus Capital Group has named former Morgan Stanley executive Carolyn Patton as director of global client relations, a new role.
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Schroders seeks to cut institutional outflow
UK – Michael Dobson, chief executive at asset management firm Schroders, says the company’s top priority is to reverse a multi-billion pound outflow of institutional assets.
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Sweden to regulate for pension directive
SWEDEN - The Swedish government is putting forward proposals to implement the European directive on occupational pension funds.
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UK Pension Commission looking at annuity market
UK – The Pensions Commission will be looking at what tax and regulatory changes are needed to reshape the working of the annuity market, the commission chairman Adair Turner said in London.
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CalSTRS returns 13.1% and names chair
US – The $126.1bn California State Teachers' Retirement System made a 13.1% return on its investments in 2004.
