Asset Managers – Page 222
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NewsKaupthing denies NIBC deal is in trouble
[15:30 CET 28-01] ICELAND – Iceland’s Kaupthing Bank has denied its deal with US buyout firm JC Flowers to buy Dutch investment bank NIBC for €3bn is in jeopardy of being blocked.
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NewsSchemes to increase focus on risk hedging
[14:30 CET 28-01] UK – Pension funds will place more emphasis on risk hedging in 2008, but will continue to move towards absolute return strategies, fund managers have predicted.
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NewsNew player enters Austrian MVK market
[11:30 CET 28-01] AUSTRIA – Markus Zeilinger, former chairman of the board at the Bonus Pensionskasse and Mitarbeitervorsorgekasse (MVK), is setting up a new Vorsorgekasse for severance pay MVK.
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Achmea/Interpolis rebrand pensions business
[15:00 CET 24-01] NETHERLANDS – Dutch insurance groups Achmea and Interpolis have today announced the launch of their recently combined pension fund administrator arm, Syntrus Achmea.
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Rogue trader loses SocGen €4.9bn
[12:00 CET 24-01] FRANCE – French investment giant Société Générale has today admitted it needs to raise €5.5bn in new capital through share issuance after discovering a rogue trader in its hedging operations.
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Clarity sought on Denmark's common fund
[16:10 CET 23-01] DENMARK - Denmark’s pension schemes need to be clearer about the money going in and out of the "common fund" of traditional with-profits schemes, warned Economics and Business Affairs Minister Bendt Bendtsen.
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EC seeks pensions innovations, with guarantees (amended)
[16:00 CET 23-01] EUROPE – Officials at the European Commission and European Parliament have called for the development of innovations and new ideas in pensions delivery which could provide some level of guarantee to retirement incomes but which do not restrict investments to the fixed income market.
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2008 centre-stages alternatives, real returns and funding
[16:55 CET 22-01] EUROPE – Allocation to alternative assets will increase in 2008 and Dutch pension funds will continue to seek real returns as German corporates’ appetite for funding grows, investment bank Lehman Brothers has suggested.
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Right issue too costly, says UBS
[16:45 CET 22-01] SWITZERLAND – Swiss bank UBS has angered smaller shareholders by planning an exclusive capital increase with the help of two Asian institutional investors.
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Watson Wyatt 'nervous' over 130/30 funds
[14:00 CET 22-01] UK - Watson Wyatt has cautioned pension funds against quantitative managers following the "strong tailwind" the sector has experienced over the past five years.
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IPE Quest: Scandinavian fund seeks alpha
[13:00 CET 22-01] EUROPE – A Scandinavian pension fund has put out a search for a global alpha asset manager, investing in a €100m concentrated core global portfolio.
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Old Lady extends Northern Rock finance to March
[16:55 CET 21-01] UK – HM Treasury and the Bank of England is to extend the lending facilities to Northern Rock until 17 March under proposals for a new financing structure.
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SNS plans Swiss Life Belgium sale
[16:00 CET 21-01] NETHERLANDS - Even before the acquisition of Swiss Life Belgium has been completed, new owner SNS Reaal has agreed to sell the company to Delta Lloyd Group.
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PGGM disinvests on PetroChina because of human rights
[15:50 CET 18-01] NETHERLANDS - The €88bn health care pension fund PGGM is withdrawing its €37m investments in oil company PetroChina, because of the firm’s human rights violations in Sudan.
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Nestlé's German fund mulls return from Dublin (Update)
[13:10 CET 18-01] GERMANY/IRELAND – Peter Hadasch, member of the board of the Nestlé's €1.2bn German Pensionskasse is considering swapping Dublin for Germany as the domicile for his fund's assets.(updated with new quotes from Hadasch)
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Norway to review PFG's ethical guidelines
[16:45 CET 16-01] NORWAY – The Norwegian Government is re-evaluating the ethical guidelines currently in place for the Norwegian Pension Fund Global to ensure "they function as intended".
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Merrill Lynch aid spotlights sovereign funds
[16:00 CET 16-01] GLOBAL – Investment giant Merrill Lynch is the latest firm to have turned to sovereign wealth funds (SWFs) for financial support and has signed a deal with seven financial institutions in total to sell convertible preference shares worth $6.6bn (€5bn).
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Luxembourg turns heads
[14:30 CET 16-01] EUROPE – Luxembourg, which in 2007 was the number one fund domicile in Europe, will continue to attract the most investments also in 2008, says Walter Koop of KPMG.
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Paternoster starts year with four new buyouts
[16:40 CET 15-01] UK – UK pension buyout firm Paternoster added another four pension schemes to its business in the first weeks of the year, bringing its total number of schemes to 33, IPE has learnt.
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Allianz bundles German pension divisions
[16:50 CET 15-01] GERMANY – Allianz Global Investors Kapitalanlagegesellschaft, the German investment arm of insurance giant Allianz, today said it has combined its pension advisory and product design operations in a new business.
