All articles by Barbara Ottawa – Page 122
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Russian pension fund clean-up attempt
RUSSIA – The Russian financial market regulator has started an attempt to clean up some of the dead wood among the Russian non-state second pillar pension funds (NSPF).
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Finland’s VER goes hedge fund shopping with €2bn
FINLAND – Thanks to the good financial situation of the €8.3bn Finnish state pension fund VER, parliament has decided to inject €1.9bn into the fund by year-end 2007.
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Pension funds losers in private equity - Citigroup
GLOBAL – Pension funds are the ultimate losers in the shift from public to private equity, according to Citigroup.
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More evidence of interest-rate swaps demand
UK – Further evidence of the growth in the interest-rate swap market - boosted at least in part by pension fund demand - came today with figures from brokerage firm ICAP.
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Morley names European marketing manager
UK – Morley Fund Management has named American Express’s Nicolas Portet as European marketing manager.
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UBS asset arm appoints Nordic sales director
SWEDEN – Henrik Af Donner has been appointed director of Nordic sales in the UBS Global Asset Management offices in Stockholm.
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Cyprus passes pension fund law
CYPRUS – Bringing it one step closer to meeting the EU pensions directive the island’s parliament passed a draft law “regarding the establishment, operation and supervision of pension funds,” Cyprus’ business newspaper Financial Mirror reports.
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Allianz gets new pension research head
GERMANY – German financial services giant Allianz has named a new head of pension research.
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Sweden mulls new pension admin body
SWEDEN – The Swedish government is to be presented with a proposal to set up a new authority to handle the administration of both the Premium Pension Authority (PPM) and the pay-as-you-go income related state pension.
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Austrian court rules on pension bond holdings
AUSTRIA – The Austrian constitutional court has ruled that companies no longer have to buy bonds to cover pension liabilities for second-pillar corporate pension arrangements.
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AP1 revises policy on board pay
SWEDEN – Swedish buffer fund Första AP-Fonden, AP1, is calling for company board members to be paid fixed fees rather than incentive schemes.
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Nestlé pension management firm names CEO
UK – Peter Tait, formerly investment manager of Nestlé UK Pension Trust, has been named as the head of the confectionery company’s new pension asset management company.
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Northern Trust wins €254m Oslo custody mandate
NORWAY – The NOK34bn (€4.1bn) Oslo Pensjonsforsikring (OPF) has awarded a custody mandate for its NOK2.1bn global fixed income portfolio.
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Compendeon launches fiduciary service
NETHERLANDS – Dutch pension schemes can now join the cooperative “Pension Cooperation” launched by investment manager Compendeon to ease the individual scheme’s administrative and management burden.
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United Nations fund axes LODH over performance
GLOBAL – The $35bn (€27bn) United Nations Joint Staff Pension Fund has axed Lombard Odier Darier Hentsch & Cie from a European small-cap mandate due to “persistent underperformance” over the last five years.
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AP7 hopes to find “pure alpha” by January
SWEDEN – The SEK80bn (€8.8bn) Swedish buffer fund AP7, Sjunde AP-fonden, is closing in on its “pure alpha” plans, according executive vice president Richard Grottheim.
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BA in €1.4bn pension deficit bailout
UK – British Airways has agreed to pay up to £950m (€1.4bn) to tackle the £2.1bn deficit in its New Airways Pension Scheme in a 10-year funding deal with trustees.
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Firms back auto-enrolment, UK government says
UK – The government says companies support auto-enrolment into personal pension accounts with auto enrolment.
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NAPF, Turner renew NPSS debate
UK – Lord Turner, the former chairman of the UK’s Pensions Commission, sought to defend his personal accounts idea against renewed criticism from the National Association of Pension Funds at a conference today.
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New LPFA investment head leaves after five weeks
UK – Suzanne Ross left her role as investment director at the £3.4bn (€5bn) London Pensions Fund Authority “for personal reasons” – just five weeks after joining.
