All IPE articles in April 2005 (Online) – Page 6
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.
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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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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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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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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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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.
