All articles by Cecilia Valente – Page 28
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Switzerland raises first-pillar pensions by 1.9%
SWITZERLAND - The Swiss Federal council has increased the first pillar old age, survivor and disablement pensions, known as AVS-AI, by 1.9% in a bid to “to adapt pensions to economic developments”.
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NAPF’s Scott queries some Hermes activism
BELGIUM - Derek Scott, chairman of the UK’s National Association of Pension Funds’ shareholder affairs committee, has queried some of Hermes Pensions Management’s shareholder activism strategy - citing Vodafone as an example.
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Italian pension bonus becomes operational
ITALY - One of the pivots of Italy’s pension reform, the tax-free perk to keep Italian workers in their jobs longer, has become operative and will be implemented in two weeks.
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Polish funds lift equity investments
POLAND-Pension funds have invested about 300 million dollars (243.5 million euros) in Polish equities in the last four months and the trend is expected to continue, according to Merrill Lynch.
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Morgan Stanley’s Orchard joins JP Morgan Fleming
UK- JP Morgan Fleming Asset Management has hired Morgan Stanley’s Andrew Orchard as a portfolio manager in its growing global portfolios group.
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Surrey switches to specialist managers
UK - The 1.2 billion pounds Surrey County Council has appointed Schroders Investment Management and boutiques Majedie Investments and Mirabaud Investment Managers as managers for its equities portfolio as it prepares to switch to specialist management.
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Japan's pension manager DLIBJ in Europe push
DENMARK - Japanese pension fund manager DLIBJ Asset Management, which claims to be the largest Japanese asset manager, has raised its European profile with a sub-advisory brief from SEB Asset Management.
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Mothercare ousts managers in revamp
UK - The pension fund of retailer Mothercare has sacked Merrill Lynch Investment Managers, Societe Generale Asset Management and Legal & General Investment Management after an actuarial valuation.
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Italy’s PensPlan enters national market
ITALY- PensPlan, the pension services provider of the semi-autonomous Trentino Alto Adige, is entering the national market with the launch of sister company PensPlan Services.
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Lucenti, Swissca slam Swiss pension rate rise
SWITZERLAND – Switzerland’s decision to raise the minimum guaranteed interest rate for pensions from 2.25% has come in for criticism in new reports from Lucenti and Swissca.
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State Street loses as Folksam changes custodian
SWEDEN - State Street, SEB Securities Services and Foreningssparbanken have lost custody mandates with Folksam Insurance.
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PVK consults on funding calculation
NETHERLANDS - The Dutch pension regulator, the PVK, has raised the possibility of raising the minimum funding level to 130% in a consultation document.
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Swiss pension fund control up for debate
SWITZERLAND - The Swiss Pension Funds Association, ASIP, has called for the launch of special quality standards for autonomous pension schemes “in the interest of long-term financing security”.
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Italian asset manager Arca gets Fitch boost
ITALY- Arca SGR, the asset management arm of a group of banks, has become the second company in Italy to receive an ‘AM2’ asset management rating by Fitch.
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IPE-QUEST: Danish funds tender at least E140m
DENMARK – Two Danish pension funds have tendered at least 70 million euros each in global equities via IPE-Quest.
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BaFIN emphasises safety in hedge guidelines
GERMANY - Financial regulator BaFIN has emphasised the need for security in new guidelines on how pension funds and insurance companies should invest in hedge funds.
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Alitalia cuts pensions amid crisis - union
ITALY - Alitalia, the troubled Italian airline, has almost halved its annual contribution to its staff pension schemes in a bid to “get away from the quicksand”, a union official says.
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IPE-QUEST: UK fund tenders unconstrained brief
UK - A UK pension fund has tendered an unconstrained mandate worth up to 80 million pounds (117.9 million euros) via IPE-Quest.
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Aegon denies Fortis pension outsourcing claim
NETHERLANDS – Aegon Nederland has denied a claim by Fortis Investments that it has opted for the latter’s products as part of a pensions outsourcing move.
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PVK says too soon to say who will get assets
NETHERLANDS – The PVK, the pensions and insurance regulator which is in the process of merging with the Dutch central bank, says it is too soon to name the insurer to whom it will outsource its pension assets.
