All articles by Cecilia Valente – Page 23
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News
IXIS, Dexia top E5bn French SRI market - report
FRANCE - Caisse d'Epargne’s IXIS Asset Management and Dexia Asset Management top the list of best-known players in the five billion-euro French Socially Responsible Investments market, a survey reveals.
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Royal Mail scheme seen eyeing bonds
UK - The 12 billion-pound (18 billion-euro) deficit-hit Royal Mail Pensions Scheme could invest more heavily in fixed income amid a doubling of the group’s pension bill, reports have stated.
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UK’s Wicks eyes public sector and pension bill
UK – With the Pensions Bill likely to be approved today, pensions minister Malcolm Wicks has said that in the future public employees could be required to retire at 65 rather than 60.
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Italian railway scheme selects first managers
ITALY - Eurofer, the 104 million-euro pension fund for railway workers, has selected its first asset managers.
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Benchmark-itis a problem, says Hewitt’s Ashton
UK - Pension funds do not need to rule out equities in their quest for returns, but must step away from "benchmark-itis", says Hewitt Bacon & Woodrow.
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Italy’s Generali ‘to benefit from pension reform’
ITALY - The Italian insurer Assicurazioni Generali SpA will capitalise from the pension reform in the medium term, says rating agency Standards & Poor’s.
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UK opposition slams slow-motion pension disaster
UK - The opposition Conservative Party's pensions spokesman has called for an increase of the basic pension in a bid to revert means testing and disentangle sponsors from the “slow-motion disaster” of overregulation.
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Spain hints at scrapping occupational tax relief
SPAIN - Finance Minister Miguel Ángel Fernández Ordóñez has said the tax privileges for contributions to pension funds should be scrapped in favour of financial neutrality.
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ABP continues to buy into UK real estate firms
UK/NETHERLANDS – The 160 billion-euro Dutch civil service pension fund Stichting Pensioenfonds ABP has continued its push into the UK real estate market with the acquisition of a stake in small-business landlord Workspace Group Plc.
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Spanish pension reform needs to be upfront - IMF
SPAIN - Pension reform needs to be placed upfront on the policy agenda as progress on the pension reform has been “disappointingly slow”, the International Monetary Fund has told Spain.
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Belgian ombudsman launches info campaign
BELGIUM - The Belgian pension ombudsman, Service de Mediation pour les Pensions, has celebrated its fifth anniversary launching a campaign to inform the public on its activities.
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Bank of Ireland AM gets new CEO amid outflows
EUROPE – Bank of Ireland Asset Management has named a new chief executive – Rothschild’s Kevin Dolan - amid a loss of 7.7 billion euros in assets under management.
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Pensions 27% of French public service spending
FRANCE - Public service expenses including the payment of pensions absorbed nearly half of the French state budget in 2003.
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BT to invest in hedge funds via new Hermes fund
UK – The 34 billion-euro BT Pension Scheme’s allocation to hedge funds is to be invested via a Guernsey-domiciled offshore vehicle run by Hermes.
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Italy: IMF prefers phased higher retirement
ITALY - The International Monetary Found has said an earlier and phased raising of the pension age, set for 2008, would have been “preferable” for the country.
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IPE-QUEST: Multi-manager tenders equities
EUROPE - A European multi-manager has tendered two equities mandates totalling 60 million dollars (46.6 million euros) through IPE-Quest.
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DeAM, Schroders lose out at Avon Cosmetics
UK - Deutsche Asset Management and Schroder Investment Management have lost out with the 102 million-pound (146.5 million-euro) pension scheme of Avon Cosmetics switching from a balanced to specialist strategy.
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Aon ousts Watson Wyatt at TV news firm
UK - Aon Consulting says it has ousted Watson Wyatt Worldwide as investment consultant for the Independent Television News Ltd (ITN) Pension Scheme.
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FRR to take on utilities’ E3bn pension assets
FRANCE - French pensions reserve fund, the Fonds de Réserve pour les Retraites, expects a cash injection of more than three billion euros next year as it takes on assets from France’s energy utility firms.
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Call for hedge funds to adopt code of conduct
GLOBAL – Managers dealing in unregistered hedge funds are being invited to adopt a draft code of conduct presented by the CFA Centre for Financial Market Integrity.
