All IPE articles in April 2007 (Online) – Page 7
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Norwegian state fund drops gold mine firm
NORWAY – A South African gold mining company has been dropped from the portfolio of the NOK1.8trn (€221bn) Norwegian Government Pension Fund – Global for environmental reasons.
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European institutions win €263m from Shell
EUROPE – European institutional investors led by the two largest Dutch pension funds have won a landmark securities claim from Shell relating to the oil giant’s 2004 reserves misreporting scandal.
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IPE-QUEST: Four new searches on system
EUROPE – A Swiss institutional investor is seeking managers for a series of active equities mandates via four new searches on the IPE-Quest system.
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Dutch pension giants shun land mines
NETHERLANDS – Dutch pension giants ABP and PGGM, who together have nearly €300bn in assets, have stopped investing in firms that produce landmines.
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Switzerland’s ASIP names new president
SWITZERLAND – The management board of Swiss pension fund lobby group ASIP has nominated Christoph Ryter to succeed current president Hans Ender.
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Paternoster extends State Street deal
UK - Paternoster, the defined benefit pension insurance group, has extended its existing relationship with State Street.
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Belgian pension funds return +8.4%
BELGIUM - Belgian pension funds delivered median returns of +8.4% in 2006, according to the 20th edition of Mercer's annual Pension Investment Performance Survey.
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Capital stands firm amid performance “blip”
UK – Capital International says it is standing firm amid what it admits is a “blip” in performance that has seen it lose a series of UK pension fund mandates.
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Dutch to examine Belgian pensions legislation
NETHERLANDS – Dutch social affairs minister Piet Hein Donner says he will examine the implications of Dutch pensions funds moving to Belgium.
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HSBC pension fund slashes equity allocation
UK – Global banking group HSBC has slashed the equity allocation of its main UK pension fund and moved into interest-rate and inflation-swaps.
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Outgoing SWIP CEO Phillips dies (Update)
UK – Chris Phillips, who recently announced his departure as chief executive of Scottish Widows Investment Partnership to join Morley Fund Management, has died during a holiday in Spain aged 50 (Updates with further information).
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Germans too conservative in pensions - Mössle
GERMANY – Fidelity’s head of German institutional business has warned that Germans face an income drop of nearly half in retirement.
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Greek bank sets up Turkish pension firm
GREECE - The National Bank of Greece (NBG) is establishing a pension insurance company in Turkey through its majority ownership at Turkey’s Finansbank.
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ABP rejects proposed pan-European vehicle
NETHERLANDS – Dutch pension giant ABP, at €211bn Europe’s largest pension fund, has said the government’s proposed new pension framework is “no attractive alternative”.
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Danish doctors' fund returns slip in 2006
DENMARK - The Doctors' Pension Fund in Denmark - Lægernes Pensionskasse (LP) - posted a pre-tax return on its investments of 12.9% for 2006, down from the 15.8% return in 2005.
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Kempen expands fiduciary team
NETHERLANDS – Dutch merchant bank Kempen & Co has hired ING Investment Management’s Marco van Rijn in a move to expand its fiduciary business.
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Robeco plans to offer manager selection
NETHERLANDS - Robeco, the asset management arm of Rabobank, plans to offer manager selection for institutional investors this year.
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Red ink at Swiss rail fund SBB
SWITZERLAND – The pension fund for state-owned Swiss railways operator SBB plunged into the red in 2006, reporting a loss of CHF60m (€36.7m) due to underperformance of its assets.
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UK's PPF recruiting investment chief
UK - The Pension Protection Fund is looking to recruit a chief investment officer, a new role.
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Wednesday people roundup
Insight, Barings, BlackRock, Mercer, Henderson, CSAM, PensionsRisk, Northern Trust, Dexia AM, Fabien Pictet, Sacker & Partners, Mellon.
