All IPE articles in August 2007 (Online) – Page 3
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News
Balfour exits on Aberdeen's GIM win
[15:00 CEST 23-08] UK – Mike Balfour, chief executive officer of Glasgow Investment Managers, will leave the group following its £8.95m (€13.23m) acquisition by Aberdeen Asset Management.
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ATP sees lower longevity funding
[14:30 CEST 23-08] DENMARK - Increased life expectancy has prompted Denmark’s largest pension scheme ATP to make a further DKK700m (€94m) in provisions, the fund said in its interim report.
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AGI to sell majority stake in German fund administrator
[12:30 CEST 23-08] GERMANY – Allianz Global Investors (AGI) has agreed to sell a 51% stake in fund administration arm Fonds Depotbank to UK securities clearer Xchanging, for an undisclosed sum.
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Strong covenant key to cheap buyout - consultants
[16:45 CEST 22-08] UK – Banks like Citigroup or other entities with strong covenants are starting to offer cheap buyout solutions for pension schemes which will "keeps trustees happy", Watson Wyatt has pointed out.
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IASB clarifies IFRIC application
[16:45 CEST 22-08] EUROPE – Market commentators have incorrectly assessed the effects of IFRIC 14 on pension schemes, the International Accounting Standard Board (IASB) said today.
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Welsh council scouts global equity manager
[16:30 EST 22-08] UK – The Welsh £1.26bn (€1.86bn) Rhondda Cynon Taf local authority pension scheme is scouting global equity investment managers for a £215m mandate.
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Northamptonshire forays into overseas equities
[16:15 CEST 22-08] UK – The £1.1bn Northamptonshire County Council pension fund is looking for one or more managers for a new £200m overseas equity portoflio.
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Bramdean’s losses worry auditor
[16:00 CEST 22-08] UK – Nicola Horlick’s Bramdean Asset Management has made a loss of £3.75m in its first 18 months, prompting its auditors to raise doubts about the firm’s stability.
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Swiss pension fund assets hit CHF500bn in 2005
[15:30 CEST 22-08] SWITZERLAND – Assets held by Swiss pension funds totalled CHF542.6bn (€332.7bn) at the end of 2005, up 12% from the end of 2004 and 30% from the end of 2002, new figures from the Swiss finance ministry show.
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Wednesday people roundup
[12:30 CEST 22-08] GLOBAL – NTGA, PIMCO, Mercer, Funds at Work, Credit Suisse, EDHEC, The Pensions Board, Riverside, Investec, Atlantis, Dimensional.
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Balfour challenges Aberdeen with MBO bid
[17:10 CEST 21-08] UK – Aberdeen Asset Management’s reported £7m bid for Glasgow Investment Managers (GIM) has been challenged by a separate buyout proposal from GIM’s management.
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Norwegian petrol fund awards six mandates
[17:00 CEST 21-08] NORWAY – Assets in the Norwegian Government Pension Fund – Global have almost reached the NOK2trn (€250bn) mark at end-June leading to the appointment of six new managers.
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Most schemes silent on wind-up legislation – Paternoster
[16:51 CEST 21-08] UK – Inadequate governance at the vast majority of UK scheme means their rules do not reflect current legislation for winding up lump sums, suggests pension buyout firm Paternoster.
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EM pension funds mature earlier - DB
[16:45 CEST 21-08] GLOBAL – Pension funds in emerging markets countries are growing rapidly but are restricted in growth compared with their counterparts in developed markets because they have smaller equity markets, Deutsche Bank has found.
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State Street silent on EADS custody rumours
GERMANY – State Street is rumoured to have won a multi-billion euro custody mandate from European defence and aerospace firm EADS.
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MP Pension generates early positive return
[12:00 CEST 21-08] DENMARK - Gains in equities and property helped MP Pension, the Danish pension fund for psychologists and people with advanced university degrees, offset bond losses and pull its investment return back into the black, the fund’s half-year figures reveal.
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Pioneer's new signing signals moves into Nordic space
[11:11 CEST 21-08] NORDIC – Dublin-based asset manager Pioneer Investments is expanding into the Nordic region and has made a key institutional appointment to head its Swedish office.
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News
Pensions Board finds compliance head
[16:30 CEST 20-08] IRELAND – The Pensions Board has named Mary Hutch as the new head of its investigation and compliance unit.
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Annuity pricing squeeze cuts funding strain
[16:30 CEST 20-08] UK - Pension funds will continue to see significant pressure on their solvency levels over the coming months even though the arrival of new buyout firms has reduced annuity pricing pressures, consultancy Mercer has suggested.
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Politicians call for pension valuation reforms
[15:00 CEST 20-08] UK – The government should scrap a requirement on defined benefit pension funds to value liabilities based on fixed income bonds as it would encourage more employers to open new final salary schemes, a Conservative Party policy team has argued.
