All articles by Barbara Ottawa – Page 107
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Irish pension funds return 1.3% in Q1
[13:00 CEST 17/05] IRELAND – The average Irish managed pension fund returned 1.3% for the first quarter, giving a annual result between March 2006 and March 2007 to 8.7% - significantly lower than the 24.4% achieved a year earlier.
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Bedfordshire awards £125m mandate
[10:55 CEST 17/05] UK – The £1.07bn (€1.56bn) Bedfordshire County Council pension fund has found a manager for an additional passive equities mandate.
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Publica just beats the benchmark
[16:56 CEST 16/05] SWITZERLAND – Publica, the The CHF33bn (€20bn) Swiss pension scheme for public workers, posted a 4.5% return for its portfolio for 2006.
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Czech pension assets will grow 18% - Rusnok
CZECH REPUBLIC – Annual contributions into the Czech third pillar are set to reach CZK24bn (€850m) this year, said Jiri Rusnok, head of the association of pension funds.
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Commerzbank to sell French AM arm
[13:14 CEST 16/05] GERMANY – Commerzbank, the second-largest German bank, intends to sell its French asset management unit CCR.
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ATP chooses BoNY for custody
[10:54 CEST 16/05] DENMARK – The DKK414bn (€55.6bn) Danish pension scheme ATP has chosen Bank of New York to provide global custody for its assets.
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Tyco pays $3bn in settlement
[16:45 CEST 15/05] US – Electronics company Tyco International agreed to pay shareholders $2.975bn (€2.2bn) to settle accounting fraud claims.
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Dumfries appoints four for £280m
[16:44 CEST 15/05] UK – The £430m (€627.6m) pension fund of the Scottish council of Dumfries & Galloway has appointed four managers for active currency and equity management mandates.
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First ETF to track FTSE All-Share
[13:00 CEST 15/05] UK – London is set to become one of the largest ETF trading places in Europe, according to Lyxor Asset Management.
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Cambridgeshire awards £30m currency mandate (amended)
[10:55 CEST 15/05] UK – The £1.3bn (€2bn) Cambridgeshire County Council has awarded two currency mandates. (amends details of second Record mandate win)
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BaFin finds pension funds in good health
[17:02 CEST 14/05] GERMANY – The German financial supervisory authority has stress-tested 125 Pensionskassen and found most of them able to survive a financial crisis.
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Value of Slovak second pillar triples
SLOVAKIA – The Slovakian occupational pensions sector has grown from SKK9bn (€268m) to SKK28bn in its second year since inception.
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Czechs to set up multi-party reform commission
CZECH REPUBLIC – Czech Labour and Social Affairs Minister Petr Necas has announced the creation of a multi-party commission by June, in an attempt to negotiate sustainable pension reforms.
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Strathclyde seeks property valuer
[17:06 CEST 11/05] UK – The £9.6bn (€14.1bn) The Strathclyde pension fund for Glasgow County Council is looking for a new independent property portfolio valuer.
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DekaBank opens Vienna office
[17:02 CEST 11/05] AUSTRIA – German asset manager DekaBank is opening an office in Vienna targeting pension funds in Austria and Eastern Europe.
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MEPs rap UK over Equitable Life
[17:00 CEST] UK – British regulators believed Equitable Life "to be 'too good and too reputable' to make mistakes", according to a special committee of the European Parliament on the alleged mismanagement of the firm.
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Watson Wyatt sees manager selection growth
[13:01 CEST] GLOBAL – Consulting firm Watson Wyatt reported a 44% growth in revenue for its investment consulting section in its third financial quarter.
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Next round in Italian pension talks
[17:02 CEST] ITALY – Unions and the government have returned to the negotiating table to talk about increasing the retirement age and cutting pensions.
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Southwest Germany sets up pension fund
[12:36 CEST] GERMANY – The province of Baden-Württemberg has announced it will establish a pension fund for its civil servants.
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Newham to cash in via JPMorgan
[12:31 CEST] UK – The £540m (€747m) London Borough of Newham Pension Fund has appointed JPMorgan to manage an £15m active currency portfolio.
