All IPE articles in August 2005 (Online) – Page 8
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Britannic AM makes international hire
GLOBAL - Britannic Asset Management has appointed Michael Borkan, senior vice-president at Sinopia Asset Management, to develop its institutional and retail distribution outside the UK.
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EU must develop fund market for pensions - IMF
EUROPE – The European market for investment funds needs more work in the face of shifting demographics and the need for retirement savings, says the International Monetary Fund.
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Shake-up at Nestlé’s Irish fund arm Robusta
IRELAND – Three pension executives of Swiss food group Nestlé have joined the board at Irish Stock Exchange-listed Robusta Asset Management Ltd.
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FTSE pension deficit falls €17bn – Watson
UK - The pension deficit of FTSE 100 companies has gone down by nearly £12bn (€17.2bn) in July, while liabilities fell by about £6bn, according to consulting firm Watson Wyatt.
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SNS Asset Management rejigs sustainable approach
NETHERLANDS – SNS Asset Management, the institutional arm of the SNS Reaal Group, says it plans to change the way it researches sustainable investing.
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PGGM first to introduce improved statement
NETHERLANDS – Dutch healthcare scheme PGGM says it is the first in the country to introduce a new and more transparent statement of pension rights for its clients.
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LPFA’s Scales joins educational charity board
UK - Peter Scales, chief executive of the London Pensions Fund Authority, has joined the Board of Trustees of the Pre-Retirement Association.
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Dutch painters scheme puts €225m with Altera
NETHERLANDS – Altera Vastgoed says it has been awarded €225m of real estate assets by the Dutch painting industry fund BPF Schilders.
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Germany’s TÜV Nord in occupational pension move
GERMANY - TÜV Nord, which certifies that cars meet legal requirements, has acquired an occupational pension from German life insurer Volksfürsorge for its 7,000 employees.
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SGAM gets €11.6bn in inflows in second quarter
FRANCE – Société Générale Asset Management gained €11.6bn in net inflows in the second quarter, which works out at a 12% annualised growth rate.
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Börsch-Supan calls for semi-mandatory pension
GERMANY – Leading pensions academic Axel Börsch-Supan has suggested the German government introduce a semi-mandatory corporate pension.
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Commerzbank asset management earnings tumble
GERMANY – First-half earnings at Commerzbank’s asset management division fell by almost half amid a steep rise in operating costs due to stock options for top executives.
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Credit Suisse says CSAM had Q2 asset outflow
SWITZERLAND – Swiss banking group Credit Suisse says its Credit Suisse Asset Management arm lost a net CHF200m (€128.4m) in assets under management in the second quarter.
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Swiss returns best for two years – reports
SWITZERLAND – Swiss pension fund assets exceeded CHF540bn (€346.7bn) in the second quarter of 2005 – with schemes making the best quarterly returns for 24 months, according to two studies published today.
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Bank of NY replaces JP Morgan at ICI
UK - The £230m (€333.1m) ICI Specialty Chemicals Pension Fund has replaced appointed the Bank of New York as its custodian, resulting in a loss for JP Morgan Chase.
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P&O to pay share of Merchant Navy deficit
UK - Shipping firm Royal P&O Nedlloyd says it is to start paying its share of deficit to the industry-wide Merchant Navy Officers' Pension Fund this summer.
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UBS suggests way to measure scheme funding
UK – Investment bank UBS has suggested an alternative to the FRS17 accounting standard as a way of measuring pension scheme funding.
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US Treasury to issue 30-year bond
US – The US Treasury has decided to return to issuing 30-year bonds, in a move seen as responding to demands from pension funds as they seek longer-dated securities to help match liabilities.
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MN Services’ legal head Pelle moves on
NETHERLANDS – MN Services’ head of legal and fiscal affairs, Willem-Jan Pelle, is moving on after 11 years with the pension management company.
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Mercer multi-management gets “excellent” response
US – Mercer Human Resource Consulting has had an “excellent” response from US clients for its new multi-management offering, says parent firm Marsh & McLennan Cos.
