All IPE articles in April 2005 (Online) – Page 4
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Dutch actuaries want further guidance
NETHERLANDS - Dutch actuaries won’t be allowed to check and certify their own work for pension funds and insurers from January 1, the Actuarial Society has decided.
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Sweden rules out merging AP schemes for now
SWEDEN – The Swedish government has dismissed for the time being a suggestion to merge the four biggest AP buffer funds, worth a total SEK626.5bn (€68.4bn), as a cost-cutting measure.
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Blue Sky names new managing director
NETHERLANDS – Blue Sky Group, which manages the pension assets of airline KLM, has named Toine van der Stee as its new managing director.
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Watson Wyatt boosts DC consulting
UK - Watson Wyatt has boosted its defined contribution consulting effort in the UK with the launch of a framework called Investment Gateway.
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FTK delay for pension funds “likely” – Rabobank
NETHERLANDS – The Dutch central bank is now “likely” to delay the new financial assessment framework for pension funds, according to Rabobank.
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Laurus ousts ING and Robeco in liability move
NETHERLANDS – The €340m pension scheme of Dutch food retailer Laurus has ousted ING and Robeco from running balanced bond and equity mandates worth €170m each.
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London police force in pensions admin deal
UK – The body which oversees the London police force has signed a pensions and payroll administration deal with LogicaCMG and Paymaster.
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Sweden’s Alecta names new chief actuary
SWEDEN - The €33bn public authority pension fund Alecta has appointed a new chief actuary to take over from Birgen Bjuren, who is to retire in October.
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PGGM returns 10.9% with coverage ratio at 111%
NETHERLANDS - PGGM, the Dutch healthcare pension fund made a 10.9% return on its investments in 2004.
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Fortis hires MN’s Coenraads for Dutch real estate
NETHERLANDS - Fortis Investments has hired MN Services’ Bart Coenraads as chief investment officer for Dutch real estate.
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Denmark’s ATP in socially responsible move
DENMARK – The Danish labour market pension fund ATP has signed a deal to use socially responsible investing research from Eiris.
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Watson Wyatt critical of investment banks
UK – Pension consulting firm Watson Wyatt has criticised investment banks for bombarding its clients with unnecessary products.
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NAPF venture has “concerns” over Jardine Lloyd
UK – The National Association of Pension Funds’ corporate governance venture says it has “several concerns” about governance at consulting and insurance firm Jardine Lloyd Thompson.
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Nestlé resisting pension fund pressure
SWITZERLAND – Food manufacturer Nestlé has dismissed media reports that its board of directors would step down if a group of pension funds succeeded in preventing CEO Peter Brabeck from becoming chairman of the board as well.
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Six Dutch members’ councils unite
NETHERLANDS - The member councils of six large Dutch pension funds have united in a new national platform, which represents more than 2.5 million employees and pensioners.
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Sweden’s Telia scheme shifts assets to SRI fund
SWEDEN – The Swedish pension scheme of Nordic telecoms firm TeliaSonera has shifted $140m (€108.7m) of assets into a socially responsible investing screened fund from State Street Global Advisors.
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Dutch schemes face low-yield challenge – IMF
NETHERLANDS – The current low-yield environment poses challenges to Dutch pension funds and insurance firms, according to the International Monetary Fund.
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KPN pension scheme returns 8.4%
NETHERLANDS - The €3.45bn pension fund of Dutch telecoms firm KPN has posted a return on investments of 8.4% in 2004, the scheme said.
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Heissmann to acquire Dutch pension firm Montae
NETHERLANDS - Heissmann Consultants is to buy Dutch pension consulting and law firm Montae Advies for an undisclosed sum.
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DeAM names Germany institutional sales head
GERMANY - Deutsche Asset Management has appointed J P Morgan Fleming’s Peter Kerger to head institutional sales in Germany.
