All IPE articles in August 2005 (Online) – Page 2
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ATP makes €3.5bn from interest-rate hedging
DENMARK – ATP, the Danish labour market supplementary pension scheme, made a DKK26bn (€3.5bn) return on its interest-rate hedging instruments in the first six months of 2005.
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Genschou to head Watson Wyatt in Stockholm
NORDIC – Watson Wyatt has formally named Arne Genschou to take over from Erik Linder-Aronson as head of its Stockholm office, its base in the Nordic region.
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Consultants’ insurance dilemma highlighted
US – The recent case bought against a consultant-owned insurer in the US has highlighted the increasing problems firms face in securing insurance coverage.
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Iceland: €2.7bn pension fund merger talks fail
ICELAND – Talks to engineer the merger of two of Iceland’s largest pension funds have proved abortive.
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UK Universities scheme backs Fprop with £50m
UK – The £20bn (€29bn) Universities Superannuation Scheme, the UK’s second largest pension fund, has awarded a £50m mandate to property asset manager First Property Group.
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Dutch real estate boost seen amid FTK, ageing
NETHERLANDS - The ageing of the population, and the new financial assessment framework, or FTK, will lead to a considerable increase of pension funds’ investments in real estate, says the Dutch weekly Beleggers Belangen.
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Man Investments CEO Chambers quits
UK - Man Investments’ chief executive Chris Chambers is stepping down at the end of the month after three and a half years at the alternative investments firm.
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Nordea jobs on line in Bank of NY deal
SWEDEN – Around 100 jobs at Nordea could be affected by a €240bn global custody agreement between the Nordic financial services firm and the Bank of New York.
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Siemens hires BodeHewitt for pensions advice
GERMANY – Industrial giant Siemens has hired BodeHewitt, the new venture between consulting firm Hewitt Associates and Bode Grabner Beye, as its pensions and actuarial consultant in Germany.
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AP3 eyes more portfolio diversification
SWEDEN – Tredje AP-fonden, the Third National Pension Fund or AP3, says it plans more diversity in its portfolio – including areas such as emerging markets, international real estate and infrastructure.
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AP1 hands €4bn of N. American equities to BGI
SWEDEN - Första AP-fonden, the SEK 171.6bn (€18.4bn) first Swedish buffer fund, has awarded more than €4bn to Barclays Global Investors amid a scheme revamp that has seen it take more assets in-house.
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State Street wins €1bn in UK authority custody
UK - State Street says it has been awarded around £700 (€1bn) in custody from four UK local authority pension funds - one in Wales and three London boroughs.
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German pensions market taking off – Allianz
GERMANY - Allianz Leben, the life insurance arm of Allianz that is a major provider of German corporate pensions, has provided more evidence that the market is – at least for insurers – beginning to take off.
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Dutch civil servants set up pensions site
NETHERLANDS - A generational conflict among Dutch civil servants could be brewing after ABP’s agreement with government employers and unions to adjust pre-pension arrangements.
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IPE-QUEST: Swiss consultant tenders two mandates
SWITZERLAND – Lugano-based investment consultant Kieger has tendered two mandates worth up to a combined $100m on behalf of clients via IPE-Quest.
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Fortis keeps mum on fund arm report
EUROPE – Banking and insurance group Fortis has declined to comment on a newspaper report that it is looking for a partner for its Fortis Investments asset management arm.
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Germany: 2005 is the year of the Riester - AMB
GERMANY – This year is becoming the year of the Riester, says insurer AMB Generali – though the other private pension, the Rürup-Rente, is not so hot.
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Irish postal scheme in €1.6bn revamp
IRELAND – The €1.6bn pension scheme of the Irish postal service An Post has restructured its manager roster with the help of consulting firm Mercer.
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Molenkamp the latest victim of MN shake-up
NETHERLANDS – MN Services’ account management head, Jan Bertus Molenkamp, is to leave – the latest in a series of departures that sources suggest are related to a restructuring at the pension firm.
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UK accounting board stands by FRS17
UK – The Accounting Standards Board says it stands by the FRS17 pension accounting standard – but admits critics could have a case.
