All IPE articles in August 2007 (Online) – Page 4
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News
Bulgarian Doverie confirms investment trend
[16:30 CEST 13-08] BULGARIA – Pension funds are looking for alternatives both in the bonds and equities sectors as government bonds are becoming less attractive.
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Threadneedle boosts hedge fund division
[16:45 CEST 13-08] GLOBAL – Threadneedle Investments is acquiring specialist hedge fund manager Convivo together with its $476m (€348.3m) emerging markets portfolio.
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UK funds half deficits despite turbulent markets
[16:45 CEST 13-08] UK – The Pension Protection Fund's (PPF) second funding index showed aggregated pension fund surplus fell from £99bn (€146bn) at the end of June to £51bn only one month later following market downturns in July.
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FRR finds new CIO
[14:53 CEST 14-08] FRANCE – Nicolas Sobczak was named the new chief investment officer of the €33.4bn Fonds de Réserve pour les Retraites (FRR).
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German PWG sees lower return on one-time payout
[16:00 CEST 14-08] GERMANY – PWG, a €483m Pensionskasse (insurance-type scheme) for co-operative firms in west Germany, has reported a decline of nearly one-third in its return for 2006 compared with 2005 on the back of increased reserve payouts.
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Fortis Investments grows institutional assets
[16:15 CEST 14-08] BELGIUM – Fortis Investments saw its institutional assets under management rise to €49.5bn at the end of June from €46.9bn at the end of last year.
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Barclays appoints Russell for pension plan
[16:30 CEST 14-08] UK – The £16.8bn (€24.9bn) Barclays Bank UK Retirement Fund has awarded a £2bn multi-manager high alpha equity brief to Russell Investments.
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UBS feels costs of DRCM closure
[16:30 CEST 14-08] SWITZERLAND – Swiss bank UBS saw net outflows of CHF2bn (€1.22bn) for its asset management business for the first half of 2007, as institutional clients withdrew CHF2.5bn in the same period.
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Pension funds more active as shareholders – NAPF
[16:45 CEST 14-08] UK – Large UK pension funds’ engagement with the companies in which they hold shares is growing further and getting results, says the National Association of Pension Funds (NAPF).
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Northern Trust doubles pooling assets
[16:45 CEST 14-08] GLOBAL – Assets under custody in Northern Trust's cross-border pooling vehicles have more than doubled over the last year to reach $24bn (€17.7bn).
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IPE-QUEST: $60m specialist equity mandate
[13:30 CEST 15-08] DENMARK – Investment consultant Kirstein Finance is looking for a manager for $50m to $70m (>€37m) a global technology equities manager on behalf of a Danish asset manager using IPE-Quest.
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Wednesday people roundup
[14:00 CEST 15-08] GLOBAL – BMA, State Street, Fidelity, ING IM, Morley, Watson Wyatt, Citigroup, Lyxor, SAM, ITS, Axa Framlington.
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Citigroup signs first full pension buyout
[16:00 CEST 15-08] UK – Financial services firm Citigroup has made its first step in the pension fund buyout arena with the purchase of a £200m (€294m) defined benefit pension fund previously owned by Thomson Regional Newspapers (TRN).
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News
Royal life insurers say no to merger
[16:00 CEST 15-08] UK – Mutual life insurance firms Royal London and Royal Liver have called off talks designed to look at the possibility of the merging the companies.
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News
Germany to raise federal employees' retirement age
[16:15 CEST 15-08] GERMANY – The government is planning to raise the retirement age for civil servants from 65 to 67 from 2029 – although those with military or police jobs may still be able to retire at 60.
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Iceland’s Kaupthing buys sub-prime victim NIBC
[16:30 CEST 15-08] NETHERLANDS/ICELAND – Iceland’s Kaupthing Bank has agreed to buy NIBC for €3bn, less than a week after the Dutch merchant bank announced massive losses in its sub-prime portfolio.
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DSK to deliver IORP-compliant pensions
[16:30 CEST 15-08] BULGARIA – DSK-Rodina has become the second pension provider to receive a licence to offer occupational pension funds under the third pillar.
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FJAs to claim US tax benefits collectively
[16:45 CEST 15-08] NETHERLANDS - Changes in cross-border tax processing means closed Dutch funds for joint accounts (FJAs), in which pension funds are the sole participants, should now find it easier to claims US dividend tax benefits, the Dutch Finance Department has said.
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MetallRente makes 8% German deferred compensation claim
[11:00 CEST 16-08] GERMANY – MetallRente, a pension fund targeted at Germany’s engineering industry, now has an 8% share of the total deferred compensation scheme market because it has insured 226,000 employees at 11,700 firms since its launch.
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Financial advice growth poses problems for PPM
[12:00 CEST 16-08] SWEDEN – An increasing use of financial advisers for fund selection in the Swedish premium pension plan could pose problems for the system as it generates potential bulk trading volumes.
