All IPE articles in August 2006 (Online)
View all stories from this issue.
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News
Watson Wyatt replaces Mercer at Northern Electric
UK – The £900m (€1.2bn) Northern Electric Group Pension Scheme has appointed Watson Wyatt as its new investment advisor, after Mercer Investment Consulting came under review.
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AEIP to celebrate 10th anniversary
EUROPE - AEIP, the European Association of Paritarian Institutions of Social Protection, is to celebrate its 10th anniversary under the patronage of José Manuel Barroso, President of the European Commission.
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Insight floats real estate under Ross Goobey
REAL ESTATE - Insight Investment plans to raise £100m (€148m) in new capital when it floats its real estate fund management business, Invista, on the junior AIM market this month.
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Avis closes German pension scheme
GERMANY – Loss-making car rental group Avis Europe has disclosed that it gained €3.2m by closing the pension scheme in its German branch for new employees and freezing accrued benefits.
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Jones resigns as Morley CEO
UK - Keith Jones is to leave insurance group Aviva's Morley Fund Management arm after seven years as chief executive, the company said.
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Finnish state fund turns to real estate
FINLAND – Investment returns for the Finnish State Pension Fund (VER) dropped to 0.0% in the first half of 2006, down from 8.6% for the same period last year.
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Hewitt deepens tie with Sweden’s Löneanalyser
SWEDEN – Hewitt Associates says it is merging with Swedish compensation consultancy Löneanalyser. Financial terms were not disclosed.
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New Swiss pension consulting firm set up
SWITZERLAND – A new Swiss pension consulting firm has been set up by former senior staff at Complementa Investment-Controlling AG.
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AP4 misses benchmark again
SWEDEN – AP4, the Swedish buffer fund AP4 that is getting a new chief executive, has reported first-half returns 0.8% - 0.5 percentage points below benchmark.
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SPP to allow full-range asset allocation
SWEDEN – Handelsbanken says it will allow SPP policyholders who save in traditional insurance to decide the proportion of equities and guaranteed interest rate.
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Two new Norwegian pension tenders
NORWAY – There are two new Norwegian pensions manager tenders – at municipality Eidskog and the merged Stavanger and Sandnes’ maintenance workers fund.
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Sal. Oppenheim says it wins €60m hedge brief
GERMANY – Volkswagen Stiftung, a €2.4bn foundation that bears the German car giant’s name, has awarded German asset manager Oppenheim KAG with a €60m fund-of-hedge fund mandate, IPE has confirmed (Updates to name investor).
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UK schemes quiz firms on women’s pay
UK – The Local Authority Pension Fund Forum has written to all companies in the FTSE 350 index enquiring about equal pay for women.
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ABP affiliate buys San Francisco office block
REAL ESTATE – A real estate firm co-owned by Dutch pension fund ABP and State Street has bought an office block in San Francisco.
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BIS to recruit asset management/pension chief
SWITZERLAND – The Bank for International Settlements, the central banks’ bank, is looking to appoint a new head of asset management.
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AP3 to analyse asset management structure
SWEDEN - Swedish buffer fund AP3 says it will analyse its asset management structure in the second half of 2006, according to its latest half-year report.
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ECB calls for global pension fund supervision
GLOBAL – The European Central Bank has called for global monitoring and supervision of institutional investors such as pension funds.
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IPE-QUEST: Danish fund tenders currency overlay
DENMARK – A Danish pension fund has tendered up to $200m in currency overlay via IPE-Quest.
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Clwyd Pension Fund tenders GTAA
UK – The £800m (€1.2bn) Clwyd Pension Fund administered by Flintshire County Council has tendered a £40m Global Tactical Asset Allocation mandate.
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Ordina working to harmonise pension schemes
NETHERLANDS – Dutch IT firm Ordina says it is working to finalise the harmonisation of its pension schemes in the next few months.
