All IPE articles in August 2006 (Online) – Page 3
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Ireland debates mandatory system
IRELAND – The Irish government has been advised by the Pensions Board to implement an increase in the state pension and create a new mandatory supplementary system.
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Dutch put extra €1.4bn into first pillar
NETHERLANDS – The Dutch government has increased its payments into the AOW first-pillar pension system by €1.4bn in 2005, according to official figures.
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Varma’s first-half returns slump to 1.3%
FINLAND – The €25.3bn Varma Mutual Pension Insurance Co. made a return on its investments of 1.3% in the first half – down from 6.7% a year before.
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Germany’s MLP axes sales chief
GERMANY – Financial services firm MLP has parted company with its chief sales executive following weak sales of its occupational and private pensions during the second quarter.
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Ex-Mn Services’ Dijkhuis sets up own firm
NETHERLANDS - Jan-Willem Dijkhuis, former director of Dutch real estate investments at asset management firm Mn Services, has set up his own consultancy firm for the financial and real estate sector.
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East Sussex tenders up to €742m in FX
UK – The £1.18bn (€1.85bn) East Sussex County Council Pension Fund has tendered up to £500m in active currency overlay, a new move for the council.
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Shetland Islands fund seeks specialists
UK – The £275m (€408m) Shetland Islands Council Miscellaneous Fund is tendering £80m of its assets, the council has said.
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Deutsche suggests FX can save pensions
GLOBAL – Deutsche Bank says currencies can be the saviour for unfunded pension plans.
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Mercer takes on 16 Scottish & Newcastle staff
UK – Mercer Human Resource Consulting has taken on 16 Scottish & Newcastle in-house pension staff from as part of an outsourcing contract with the brewing firm’s £2bn (€2.9bn) pension fund.
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German consultants Böhm and FUNK to merge
GERMANY – Some sort of merger between insurance broker FUNK and Böhm Consultants, an actuarial and pensions firm, is imminent and could be officially announced on Monday, IPE has learned.
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JLT, Northern Trust in manager-of-managers tie
UK – Northern Trust Global Investments is to select and monitor asset managers for Jardine Lloyd Thompson’s UK pension fund clients under a partnership deal announced today.
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Mellon Analytical Solutions MD Brant departs
UK - Mick Brant, managing director of Mellon Analytical Solutions International, is leaving the company later this month.
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Blue Sky wins €50.8 KLM UK brief
NETHERLANDS – Blue Sky Group, the manager of KLM’s Dutch pension assets, has been appointed to run £34.8m (€50.8m) for the KLM (UK) Pension and Life Assurance Scheme.
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Firms’ pension deficits have limited impact – BOE
UK – Pension deficits have had relatively little impact on companies’ business decisions, although there has been an effect on wages, says the Bank of England.
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Luxembourg FDC scheme in €4bn tender
LUXEMBOURG – The new fund set up to hold Luxembourg’s excess pension revenues is looking for managers to administer its €4bn in assets, excluding real estate and loans.
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Swissfirst CEO hits back over trading allegations
SWITZERLAND – Thomas Matter, chief executive of Swiss bank Swissfirst, has dismissed allegations that he and five Swiss pension funds may have been involved in insider trading from which he benefited.
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Mercer names ex-Watson’s Whalley as UK chief
UK – Mercer Human Resource Consulting has named former Watson Wyatt European managing partner Alan Whalley as its new UK chief executive.
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SSGA facing loss of $13bn CalPERS index brief
US – California pension giant CalPERS is considering terminating State Street Global Advisors from a $13bn (€10.2bn) international equity index mandate.
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Watson sees “robust” demand from pension clients
GLOBAL – Watson Wyatt Worldwide has reported “robust demand” for investment strategy and fund manager selection services amid an 18% increase in revenues at its investment consulting group.
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Call for UK local government fund accountability
UK – The government has been advised to overhaul the accountability arrangements for the UK’s Local Government Pension Scheme.
