All IPE articles in April 2007 (Online) – Page 4
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Butchers asked to chop property portfolio
NETHERLANDS – The Dutch €1.1bn industrywide butchers’ pension fund has clashed with pension regulator De Nederlandsche Bank (DNB) over demands to cut the scheme’s real estate holdings.
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Alternatives perform well at PGGM
NETHERLANDS - Alternative asset classes performed very well during the first quarter, the €83bn healthcare and social work scheme PGGM reported.
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First pension appointment to UKSIF board
UK – Meagan Thompson, corporate governance counsel at Railpen Investments, has become the first pension scheme professional to join the board of UK Social Investment Forum (UKSIF).
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WHO warns on copycat pension systems
GLOBAL - The World Health Organization (WHO) has stated that developing countries should not copy pension systems currently available in the West.
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Hermes criticises VW but won't stop Piech
GERMANY – At the annual general meeting of car company Volkswagen (VW), shareholders, including UK’s fund manager Hermes, criticised the firm’s corporate governance.
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PME to put €400m into life settlements
NETHERLANDS – PME, the €20.5bn fund for Dutch metalworkers, is to put up to €400m – or 2% of its total assets – into the emerging asset class of securitised life insurance policies or life settlements.
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ING in search for new chief executive officer
NETHERLANDS – ING Investment Management is looking for a chief executive for Europe following the announced departure of Angelien Kemna.
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Co-head of UK equities at £29bn scheme quits
UK – Fraser Slater, co-head of the UK equities team at the £29bn (€43bn) Universities Superannuation Scheme (USS), has left and the fund is looking for replacements.
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Siemens files charges against external managers
SWITZERLAND – Siemens’ Swiss arm has filed criminal charges against what it said were “external managers” who had links with Roland Rümmeli, the disgraced former head of investments at its pension fund (Pensionkasse).
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IPE-QUEST: Swiss institution seeking advice
SWITZERLAND – A Swiss institutional investor is using IPE-QUEST to look for advice on building a model portfolio for two sustainable equity mandates, one in the US and one in Europe.
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Wednesday people roundup
GLOBAL – Mercer, ABN Amro AM, Invesco, Henderson, Santander AM, BGI, F&C, KAS Bank, ING Real Estate, oekom research.
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Institutions still downbeat – Merrill survey
GLOBAL – Institutional investors are “still fundamentally pessimistic” about the outlook for corporate profit growth, fixed income and credit, a survey by investment bank Merrill Lynch has found.
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UK protection fund to create SRI policy
UK – The UK’s £305m (€446.3m) Pension Protection Fund is seeking a consultant to help it create a policy on socially responsible investing.
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UK’s Marathon Club calls for statement of beliefs
UK - Pension trustees should be clear about their investment beliefs as well as focus less on short-term asset manager performance, says the Marathon Club.
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CSAM Germany posts institutional inflows
GERMANY – The German arm of Crédit Suisse Asset Management has reported mixed results for 2006, with its institutional funds posting inflows and its mutual funds hit by outflows.
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Brown comes out fighting on pensions
UK – Chancellor Gordon Brown came out fighting in a debate over his handling of occupational pensions yesterday.
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Commodities top performer at TNT
NETHERLANDS - With returns of 4.7%, commodities were the best performing asset class of the postal pension fund TNT in the first quarter, it said.
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PensionDanmark returns 1.2% in first quarter
DENMARK – The Danish labour market pension fund, PensionDanmark, has booked an investment return of 1.2% in the first quarter - boosting its assets under management to DKK64.2bn (€8.6bn).
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Norwegian fund to screen for arms links
NORWAY – The NOK1.8trn (€220bn) Norwegian Government Pension Fund – Global is to screen its equity holdings to filter companies with connections to certain types of weapon production.
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Belgian association bewildered by DNB comments
BELGIUM – The head of the Belgian pension fund association has responded with bewilderment to comments yesterday by the Dutch central bank warning funds about the dangers of going across the border to their neighbour.
