Daniel Brooksbank
NewsInstitutions to exit bonds for stocks - BlackRock CEO
[15:00 CET 09-01] GLOBAL - Institutional investors are set to exit fixed income and move into equities, reckons BlackRock chief executive Larry Fink.
NewsBT fund 'retains stock lending ban'
[16:30 CET 08-01] UK - The £39.7bn (€44bn) BT Pension Scheme plans to keep in place a ban on stock lending - despite the lifting of an official ban on the practice, according to reports.
NewsAon fined €5.8m by UK over bribery controls
[16:30 CET 08] UK – Aon Corp., the parent of actuarial and pension consulting firm Aon Consulting, has been fined £5.2m (€5.8m) by the UK’s financial regulator for “failings in its anti-bribery and corruption systems and controls”.
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Aegon takes control of Romanian pension business
[16:00 CET 07-01] ROMANIA – Dutch pension firm Aegon has taken control of its joint venture pensions business in Romania.
NewsM&S says trustees back pension curbs
[16:30 CET 07-01] UK – The trustees of the Marks & Spencer Final Salary Pension Scheme are “very supportive” of the decision announced today to curb benefits for the fund’s 21,000 members, company management says.
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Equity-biased UK authorities lose out – WM
UK - State Street’s WM pension fund estimates for 2008 have shown that schemes with a bias towards equities such as local authorities will be more affected by the market turmoil than their more bond-heavy corporate cousins.
NewsUSS expects 15-year recovery from crisis
[16:23 CET 06-01] UK – The £26bn (€29.6bn) Universities Superannuation Scheme reckons it could it take up to 15 years to recover from the current financial crisis – and that there’s a “golden opportunity” to restructure its portfolio.
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Ireland’s NPRF reviews strategy amid bank bailout
IRELAND – The National Pension Reserve Fund has acknowledged it will have to review its investment strategy in the light of a government bailout of the Irish banking sector.
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LPFA terminates €233m UBS mandate
UK – The £3.7bn (€3.9bn) London Pension Fund Authority has terminated a £219m target return mandate with UBS Global Asset Management because of poor performance and a lack of confidence in the firm.
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Capital International rethinks strategy
[16:25 CET 17-11] UK - Capital International, the UK arm of reclusive US-based asset manager Capital Group, says it is rethinking its strategy as its traditional defined benefit pension fund business reaches maturity.
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HSBC asset mgmt executive 'facing murder charge'
[16:00 CET 17-11] UK - Neil Ellerbeck, chief investment officer for liquidity at HSBC Asset Management, was due in court today accused of murdering his wife, according to press reports.
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Air France pilots strike over pensions
[16:45 CET 14-11] FRANCE - Air France pilots began a four-day strike today in a dispute over proposed increases in their retirement age and the reform of their pension fund, the CNPR.
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Hewitt foresees "difficult environment" in 2009
[15:00 CET 14-11] GLOBAL - Pension consulting firm Hewitt Associates says it foresees a "difficult environment" in the next fiscal year, despite swinging to a profit in the fourth-quarter from a loss a year before.
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Morgan Stanley cuts 9% of asset mgmt jobs
[15:30 CET 13-11] GLOBAL – US banking giant Morgan Stanley says it plans to cut 9% of jobs in its loss-making asset management division.
NewsNumber of IORP schemes grows to 70
[16:30 CET 12-11] EUROPE – The number of cross-border pension schemes operating under the European pension fund directive has risen to 70, says the Committee of European Insurance and Pension Supervisors in its latest survey of market development.
NewsBritish Coal scheme seeking investment head
[16:30 CET 12-11] UK - The £10.9bn (€13.2bn) British Coal Staff Superannuation Scheme is looking for a new chairman of its investment sub-committee to replace former Watson Wyatt partner Nick Watts, who has left “by mutual consent”.
NewsObama good for pension funds, says Hermes
[16:20 CET 11-11] GLOBAL – Incoming US President Barack Obama should be good for pension funds because he will seek more “accountable capitalism”, the head of Hermes’ corporate governance arm reckons.
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Julius Baer investment chief departs
[12:20 CET 11-11] SWITZERLAND - Beat Wittmann, chief executive of investment products at Swiss private banking group Bank Julius Baer & Co. Ltd., is to depart after less than a year in the job amid a major rethink of strategy.
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State Street eyes European custody expansion
[16:00 CET 10-11] EUROPE – Asset servicing bank State Street has indicated it is “looking at opportunities” to expand its European global custody business, benefiting from the fallout of the banking crisis.
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PGGM has majority stake in volatility hedge fund
NETHERLANDS – The €83bn Dutch pension fund PGGM, one of Europe’s largest schemes, has an almost 63% stake in the Maple Leaf Macro Volatility Fund.
