All IPE articles in August 2004 (Online) – Page 8
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EFRP chief wary of pension regulators – report
EUROPE – The chairman of the European Federation for Retirement Provision has been quoted saying a “lack of trust” between regulators is more of an obstacle to pan-European pensions than the taxation issue.
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Northern hires SSGA’s de Boer for Europe sales
EUROPE – Northern Trust Global Investments has hired State Street Global Advisors’ Heico de Boer as a sales director for Continental Europe.
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Europe ageing is “ultimate stress test” – report
EUROPE – Rapid population ageing is the “ultimate stress test” for the European welfare state and is just a business cycle away, a new report states.
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CSAM gains E845m in assets under management
SWITZERLAND – Credit Suisse Asset Management gained 1.3 billion Swiss francs (845 million euros) in new assets under management in the second quarter – compared to a 1.9 billion-franc outflow a year before.
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German hedge market could grow to E20bn
GERMANY- The German hedge fund markets, newly open to institutional investors, could grow to 20 billion euros in the next five years, according to consultant Mercer.
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USS merges with Open University Scheme
UK – The 19 billion-pound (28.7 billion-euro) Universities Superannuation Scheme, the second largest pension fund in the UK, has merged with the Open University Superannuation Scheme for support staff.
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Denmark: Mikkelsen wants higher retirement age
DENMARK – Cabinet minister and top conservative party official Brian Mikkelsen has called for a “more flexible” pension model, which would push up the pension age by five years.
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Icelandic pension funds in $2bn merger talks
ICELAND - Two of Iceland’s leading pension funds, Framsyn and Sjomanna, are in the process of negotiating a merger - the merged entity would have two billion dollars in assets.
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Top European firms’ pension gap E116bn – report
EUROPE- The aggregate deficit of Europe’s largest companies, those listed in the European Dow Jones STOXX 50 index, has been put at 116 billion euros by Lane Clark & Peacock.
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Pfizer’s Smith joins Marsh Mercer DB scheme
EUROPE – John H Smith, head of European pension investments at the 402 million-pound (610 million-euro) Pfizer Pension Scheme, has joined the 1.8 billion pound Marsh Mercer defined benefit pension scheme as director, corporate finance and investments.
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Judge tells Campina to resolve indexation row
NETHERLANDS - Dairy products manufacturer Campina and its pensioners’ association, VGC, have been asked by a district judge to solve their differences over pension indexing out of court.
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MLIM makes German institutional hire
GERMANY - Merrill Lynch Investment Managers has hired former J P Morgan sales executive Kai Volkmann to boost is German sales institutional team.
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US SEC acts in hedge fund fraud case
US – The Securities and Exchange Commission has acted against alleged fraud at a Pennsylvania-based hedge fund called Fountainhead.
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Nestlé “very seriously” considering Irish CCF
GLOBAL - Multinational food group Nestlé, which has a 6.2 billion-Swiss franc (3.8 billion-euro) pension fund says it is “very seriously” considering Ireland’s tax-transparent pension vehicle Common Contractual Fund, or CCF.
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Swiss pension funds boost alternatives - CSAM
SWITZERLAND – Swiss pension funds have raised their allocation to alternative assets to 1.8%, Credit Swiss Asset Management says.
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IAS19 to affect pension design – Watson Wyatt
EUROPE – Consulting firm Watson Wyatt says the IAS19 accounting standard for retirement benefits will affect the way companies consider pension scheme obligations and plan design.
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Turkey sets deadline for pension reform decision
TURKEY – The Turkish government has set said it will decide on its strategy for reforming its pension system by the end of the third quarter of this year.
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PGGM discontinues chief economist role
NETHERLANDS – The Dutch health care fund PGGM’s appointment of Peter Kraneveld as special adviser means that the chief economist role no longer exists at the scheme.
