All IPE articles in April 2005 (Online) – Page 6
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S&P sees up to €2bn annual claim on UK’s PPF
UK – Rating agency Standard & Poor’s says the annual claim on the UK’s new Pension Protection Fund could be as high as £1.57bn (€2.29bn) in the worst-case scenario.
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Wellington raises stake in outsourcer Capita
UK – Asset management firm Wellington Management Co. has increased its stake in Capita Group, which provides pension outsourcing to companies such as utilities firm RWE and supermarket group Safeway.
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Austria’s NÖVK scheme taps GES for SRI
AUSTRIA - Niederösterreichische Vorsorgekasse, a two-year-old Austrian pension fund serving 100,000 employees, has hired GES Investment Services for socially responsible investment consulting.
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J P Morgan revamps investor services
GLOBAL – J P Morgan has consolidated its investor services and institutional trust services into a new unit called J P Morgan Worldwide Securities Services.
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Clients put $10bn into currency overlay - Mercer
GLOBAL - Mercer Investment Consulting says its clients put $10bn (€7.7bn) into currency overlay mandates in 2004.
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Dutch schemes’ Z-scores up for discussion
NETHERLANDS – The system of measuring Dutch industry-wide pension fund performance against a benchmark, known as Z-scores, could be up for debate later this year.
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Huge potential seen in FX for pension funds
GLOBAL – There is “huge growth potential” in the global foreign exchange market, says Putnam Investments.
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Watson using psychological tools for managers
GLOBAL – Consulting firm Watson Wyatt has confirmed that it is using “psychological tools” to identify the best investors.
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ABN Amro Mellon gains $6bn in assets
EUROPE – ABN Amro Mellon, the securities services joint venture between the Dutch bank and Mellon Financial Corp., has gained $6bn in assets under custody in the last quarter.
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European real estate body INREV names CEO
EUROPE - INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has appointed a new chief executive.
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CalSTRS plans $3bn emerging market move
GLOBAL – The $127bn (€97bn) California teachers fund CalSTRS is to launch a search for up to six active equity managers to invest about $3bn in emerging markets, or 10% of its international equity portfolio.
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Dutch most satisfied with pensions - survey
NETHERLANDS – The Dutch are the most satisfied people in the world with their present and future pensions, a survey by insurer AXA has revealed.
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SSGA’s assets under management rise 11%
GLOBAL – Assets under management at State Street Global Advisors, the asset management arm of State Street Corp, have risen 11%.
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MLIM’s total assets under management fall 7%
GLOBAL – Total assets under management at Merrill Lynch Investment Managers have declined by seven percent to $479bn (€368.3bn) due to outflows in institutional liquidity products.
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Jardine Lloyd unit named as MG Rover trustee
UK - Jardine Lloyd Thompson's Independent Trustee Services arm has been named as independent trustee to two pension schemes of failed UK car firm MG Rover.
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MLIM to run €12bn Philips pension assets
NETHERLANDS – Electronics giant Philips is to outsource the management of its €12bn in Dutch pension assets to Merrill Lynch Investment Management in a move that will see 55 staff transfer to MLIM.
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ABP starts investing in Third World micro credits
NETHERLANDS – ABP has said it has started investing in micro credits for small entrepreneurs in the Third World.
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BNP Paribas hires global relationship manager
UK - BNP Paribas Securities Services has appointed IBM UK’s Kay Hayre to the role of global relationship manager covering financial intermediaries.
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Germany freezes state pension for 20m people
GERMANY - The German government has approved an ordinance that, for the second consecutive year, bars an increase in the state pension drawn by around 20 million people in Germany.
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Standard Life says 65 staff to join Bank of NY
UK - Around 65 staff at Standard Life Investments could be set to transfer to the Bank of New York in Edinburgh in an outsourcing deal.
