All IPE articles in April 2007 (Online) – Page 8
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AXA IM nabs Fidelity’s Hall for UK role
UK – Martin Hall, co-head of fixed income at Fidelity International, has been appointed as the new head of AXA Investment Managers (AXA IM) in the UK.
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Pension funds go for Greek bonds (update)
GREECE – Pension funds were among the buyers of €3.5bn in inflation-linked long-dated bonds issued by the government yesterday (updates to delete Greek).
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Henderson opts for LDI for own scheme
UK – Asset manager Henderson Global Investors is to shift its own defined benefit pension scheme into a Liability Driven Investment structure.
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Hewitt Associates opens Russia office
RUSSIA - Hewitt Associates, the pension consulting and human resources firm has opened its first office in Russia.
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ABP, ATP in €700m German real estate tie
REAL ESTATE – Dutch and Danish pension giants ABP and ATP have teamed up with German real estate firm Patrizia Immobilien to launch a joint venture that will invest up to €700m in German commercial real estate.
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DeAM names global institutional product head
GLOBAL – Deutsche Asset Management has named Sal. Oppenheim’s Frank Klein as its new global head of institutional product management and development.
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ING pension fund awards €2.2bn to Bank of NY
NETHERLANDS - The €10bn pension fund of Dutch finance giant ING has awarded a €2.2bn fixed income global custody mandate to the Bank of New York.
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UK’s PPF appoints pool of legal advisers
UK – The Pension Protection Fund has appointed 27 law firms to provide legal advisory services.
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Pension impact in TNT job cull
NETHERLANDS – TNT Post, the Dutch postal service company, has announced possible changes to its pension scheme amid a cull of around 7,000 of its total 58,000 jobs.
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€5bn Swiss energy fund names CFO
SWITZERLAND – Pensionskasse Energie, a CHF8.5bn (€5.2bn) pension fund for the Swiss energy sector, has appointed Bernard Rasper as its new chief financial officer.
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Mercer chief executive earns $2.3m
GLOBAL – Michele Burns, the new chief executive at Mercer Human Resource Consulting, earned $2.3m (€1.7m) in 2006.
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Belgian builders appoint Hewitt
BELGIUM – Belgian industry-wide construction workers’ scheme PensioB has appointed Hewitt Associates to design a tailor-made pension administration tool.
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BNP Paribas deal nets €44bn of custody assets
EUROPE – BNP Paribas Securities Services has gained more than £30bn (€44bn) in custody assets with an agreement to acquire RBS International Securities Services.
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Irish reserve fund’s real estate chief departs
IRELAND – Ian Gleeson, head of property at Ireland’s €18.8bn National Pensions Reserve Fund, is to join Morley Fund Management.
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FRR launches transaction cost monitoring mandate
FRANCE – France’s national pension surplus fund, the €32bn Fonds de réserves pour les retraites (FRR), launched an open RFP today for a service provider to assist in reducing transaction costs.
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Philips sets up Luxembourg pan-European scheme
LUXEMBOURG – Electronics giant Philips has set up a Luxembourg-based pan-European pension fund in accordance with the IORP directive on occupational pension funds.
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AZL facing court action from Dutch miners
NETHERLANDS – Dutch mineworkers are preparing legal action against pensions provider AZL in a dispute over payouts.
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Managers criticised in German study
GERMANY – Property fund manager Oppenheim Immobilien KAG (OIK), bond specialist Pimco and Axa Investment Managers have elicited the most criticism in a new survey of German institutional investors.
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IPE-QUEST: €1.6bn of new searches on system
GLOBAL – There are 15 new searches from a variety of different institutions – worth up to a combined $2.2bn (€1.6bn) of assets - currently on the IPE-Quest system.
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UK’s NAPF responds as pensions tax row escalates
UK – The National Association of Pension Funds has responded to what has become a major political row over the government’s decision a decade ago to remove Advanced Corporation Tax Relief from pension funds.
