All articles by Barbara Ottawa – Page 126
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Sweden: pensions low on agenda post-election
SWEDEN - The election victory for the centre right alliance under Fredrik Reinfeldt will have no immediate implications for pension funds, say analysts and pension fund representatives.
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MEPs facing pension fund “embezzlement” talk
EUROPE – Members of the European Parliament are facing suggestions that they might be embezzling their own pension fund.
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Synesis taps Capita, seeks fixed income managers
UK – Synesis Life, the new pensions liability buyout firm, has appointed Capita Hartshead as third party administrator and said it is looking for one or more asset managers with a fixed-income focus.
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PPF appoints three consultants for levy calculation
UK – The Pension Protection Fund has appointed Barrie and Hibbert Ltd, Moody’s KMV and Credit Suisse Securities (Europe) to provide analysis for levy calculations.
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Swiss pension fund interest rate stays 2.5%
SWITZERLAND – The Swiss parliament has decided to leave the minimum interest rate for occupational pension funds at 2.5%.
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SWIP wins rare AMF Pension mandate
SWEDEN – The SEK245bn (€26bn) Swedish fund AMF Pension has awarded a European small-cap mandate to Scottish Widows Investment Partnership worth approximately SEK150m.
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ABP quant head Gupta joins UK’s Pearl Group
EUROPE – Pranay Gupta, head of global quantitative strategies - capital markets at ABP Investments, has become the latest figure from the Dutch pension giant to join the Pearl Group.
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BNP Paribas creates global head of pensions
UK – BNP Paribas appointed Tony Osborn-Barker as global head of pensions. He joins from Deloitte Touche Tohmatsu in London where he was head of investment services since 2000.
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Denmark pension funds senior manager carousel
DENMARK – From November, the senior management at three Danish pension funds will change as a result of the retirement of Copenhagen-based AP Pension CEO Holger Dock.
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Siemens Swiss pension fund manager arrested
SWITZERLAND – Roland Rümmeli, portfolio manager of the CHF1.7bn (€1.1bn) Siemens Switzerland pension fund, is being held in custody following his arrest in connection with investigations into the Swissfirst scandal on Friday. He was also suspended by the Siemens AG.
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Swedes and Dutch scrutinise private equity funds’ role
EUROPE – A week before general elections, the Swedish government has raised concerns about private equity fund Cevian’s investment approach in Volvo.
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S&P pension director MacLachlan joins Watson
UK – Watson Wyatt has hired Standard & Poor’s director of pension services Jim MacLachlan as a senior investment consultant.
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BAE may use Airbus cash for pensions
EUROPE – UK aerospace group BAE Systems may use some of the approximately £1.2bn (€1.7bn) proceeds from the sale of its 20% stake in airbus for pensions.
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Sweden’s PPM appoints S&P, Wassum
SWEDEN – The Swedish Premium Pensions Authority (PPM), facing criticism for its fund selection tool “Lotsen” earlier this month, has appointed rating firms S&P Fund Services and Wassum Rating AB.
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Van Lanschot targets institutions with Kempen bid
NETHERLANDS – Dutch private bank Van Lanschot is looking to increase its institutional reach with a €300m takeover bid for independent Dutch merchant bank Kempen.
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Polish pension supervisor KNUiFE to be dissolved (amended)
POLAND – Polish pension supervisor KNUiFE is to be dissolved under a disputed law which will see the three financial supervisory authorities merged into one.
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Global fund management asset growth slows
GLOBAL – Total assets managed by the world’s largest 500 fund managers grew to $53.6trn (€41.8trn) in 2005, consulting firm Watson Wyatt reports.
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CSAM names European pensions group MD
EUROPE - Credit Suisse Asset Management has appointed Paul Bourdon as managing director of its newly created European Pension Solutions Group.
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Italy-Germany cross-border pension fund planned
EUROPE - PensPlan, the pension services provider of the semi-autonomous Trentino Alto Adige region in northern Italy, is planning to offer a cross-border fund in Germany under the pension directive.
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USS drops GSAM and LGIM
UK – The £22bn (€32.6bn) Universities Superannuation Scheme has dropped Goldman Sachs Asset Management (GSAM) and Legal & General Investment Management as external managers to take more assets in-house.
