All articles by Daniel Brooksbank – Page 105
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Opra warns over “inappropriate” trustee deals
UK – The UK’s Occupational Pensions Regulatory Authority has warned against trustees making “inappropriate” deals with scheme sponsors – saying trustees should be more assertive with companies.
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Red and blue book pension directories now online
EUROPE – The pension directories published by IPE and AP Information Services have gone online to meet the demand for updated pension data.
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Crédit Agricole, Caisse d’Epargne in custody tie
FRANCE - Crédit Agricole and Caisse Nationale des Caisses d’Epargne have confirmed they are looking at combining their securities services businesses - with a view to creating a “major player” in the industry.
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UK says schemes need to do more on Myners
UK – The UK government says it has reviewed the take-up of the Myners principles on institutional investment and found that “further action is needed” for pension schemes - in particular on trustee training and decision making.
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UK government report slams actuaries
UK – A new government-sponsored review of the actuaries in the UK has slammed the profession – finding among other things a concentration of advice to the largest pension funds and a possible restriction of competition.
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NAPF names new chairman to succeed Faulkner
UK – Pinsents lawyer Robin Ellison has been named as the new chairman of the National Association of Pension Funds, taking over from Terry Faulkner.
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Former KLM pension exec joins Morgan Stanley
EUROPE – KLM Pensioenfondsen’s former head of investment analytics, Patrick Lighaam, has joined Morgan Stanley's European Pensions Group.
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AP3 changes mandate structure for US equities
SWEDEN - The 152 billion-crown (17 billion-euro) Third Swedish National Pension Fund, Tredje AP-fonden or AP3, has divided its 15 billion-crown US equity portfolio into three market-cap brackets.
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EU to present occupational portability draft
EUROPE – The European Commission is going to present a draft directive on occupational pension portability within the first quarter of next year, a top EU official said.
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IPE-QUEST: Dutch fund in currency alpha review
NETHERLANDS – A Dutch pension fund is reviewing its currency alpha management via IPE-Quest.
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Early retirement not an option - Belgian official
BELGIUM - The president of Belgian's Senate commission on social affairs has remarked that the early retirement is “no longer an option” for the 'baby boom' generation born after the World War II.
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Deutsche Börse’s Clearstream custody assets rise
EUROPE – Clearstream, the custody and settlement division of exchange operator Börse Group, says client assets under custody rose 3.3% in November.
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Citigroup consultant head Duffain joins Pioneer
EUROPE - Pioneer Investments says it has hired Kerry Duffain from Citigroup Asset Management to be head of investment consultant relations in Europe.
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F&C unveils inflation-linked bond fund
EUROPE - F&C Asset Management has launched a euro-denominated inflation-linked bond fund aimed at pension funds and insurance companies struggling with liabilities.
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UK employers split on occupational pensions
UK – A split has emerged over company attitudes to occupational pensions - with a call for compulsion from engineering employers at odds with Confederation of British Industry policy.
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UK: CSAM relaunches strategic service for funds
UK - Credit Suisse Asset Management says it has relaunched its strategic allocation service for small to medium pension funds.
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ABN Amro names global institutional sales chief
GLOBAL – ABN Amro Asset Management has named Frank Goasguen as its new head of global institutional sales.
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ABP, USS in warning over global drugs industry
GLOBAL – Two of Europe’s largest pension funds, Stichting Pensioenfonds ABP and the Universities Superannuation Scheme, have warned of continued “downward valuation” of the global pharmaceutical industry.
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SEC probes TIAA-CREF as trustees quit
US – US pension provider TIAA-CREF is being investigated by the Securities and Exchange Commission amid the resignation of two trustees over a conflict of interest involving Ernst & Young.
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UK consults on civil service pensions
UK – The UK government has launched a consultation on proposed changes to civil service pension arrangements featuring a shift to average-salary and a change in the retirement age to 65.
