All articles by Daniel Brooksbank – Page 111
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EIB to issue 'longevity bond' for pension schemes
EUROPE - The European Investment Bank is to issue a 25-year 540 million-pound (775 million-euro) bond as part of a product designed by BNP Paribas aimed at protecting UK pension schemes against longevity risk.
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Danish pension funds set up real estate “club”
DENMARK – Five top Danish pension funds worth around 45 billion euros have set up a real estate “club” to invest in European indirect property vehicles, says real estate firm Cushman & Wakefield Healey & Baker.
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UK slated for new “knee-jerk” PPF proposals
UK – Observers have slated new government proposals relaxing the terms of the planned Pension Protection Fund, saying they are another “knee-jerk” reaction which could have knock-on costs.
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IPE-QUEST: UK house tenders Japanese equities
UK – A UK institutional investor has tendered 50-100 million dollars (71-143 million euros) in actively managed Japanese mid- or mid-and small-cap equities via IPE-Quest.
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Sweden’s Alecta ahead of schedule on cost cuts
SWEDEN – Occupational pensions provider Alecta says its planned cost measures are going better than planned – and that it achieved a total return of 6.3% in the first nine months of 2004.
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UK fund proposals adopt pension model
UK – New proposals on the governance of collective investment schemes – put together in the wake of the US market timing scandal - have been modelled on some elements of the existing pension disclosure code.
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Watson Wyatt & Co. sees lower pension design work
US – Washington-based Watson Wyatt & Co. says it foresees less than expected new pension plan design work in the 2005 fiscal year.
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IPE strengthens Netherlands coverage
NETHERLANDS – Investment & Pensions Europe, the leading magazine for European institutional investors, has strengthened its coverage of the Dutch market with the appointment of Danielle Rossingh as Dutch Editor.
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IPE-Quest has 13 searches worth E1bn
GLOBAL – Thirteen new searches worth more than a billion euros have gone live on IPE-Quest, IPE’s online mandate matching service, in the last few days.
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Fidelity hires PWC’s Bucksey for UK DC
UK - Fidelity Investments has continued its hiring spree with the appointment of PricewaterhouseCoopers’ Paul Bucksey as director of business development in its UK defined contribution business.
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USS, PGGM group outline broker evaluation
EUROPE - A group of buy-side institutions that includes two of Europe's largest pension schemes, USS and PGGM, has outlined the criteria they will use to evaluate the performance of brokers.
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Pension pooling market could be worth E1trn
EUROPE – The European pension pooling sector could be worth up to a trillion euros within five years, says a senior State Street executive.
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Pension pooling a way to “get rid of trustees”
EUROPE – Pension pooling by multinational companies may be a way for them to “get rid of” uncooperative local trustees, an industry conference has been told.
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ING asset management profits rise 40%
EUROPE – ING says its operating profits from asset management rose 40.3% in the first nine months of 2004 - driven by the institutional asset management business.
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CSAM posts lower Q3 revenues and inflows
SWITZERLAND – Credit Suisse Asset Management has posted lower revenues and new asset inflows in the third quarter.
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Finland “clouded” by ageing – report
FINLAND – Finland’s long-term outlook is not only “clouded” by the imminent ageing of the population – but the pension reform set to come in next year is insufficient, says a new report.
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UK schemes in “long march” into bonds - Barclays
UK – Barclays Capital says possible new rules about pension fund transparency means further pension fund demand for bonds as funds begin “their long march out of equity into fixed income”.
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AP3 warns on costs of Swedish governance code
SWEDEN – Tredje AP-fonden, the 16.6 billion-euro Third Swedish National Pension Fund, has said Sweden’s proposed new corporate governance code may lead to higher costs.
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Aon Consulting taps Aquila for pensions admin
UK - Aon Consulting has appointed Aquila to supply its new software platform for pensions administration in a 10 million-pound (14.5 million-euro) deal.
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UBS asset management profit slips 20%
GLOBAL – Pre-tax profit at UBS Global Asset Management has slipped almost 20% in the third quarter despite three billion Swiss francs (1.9 billion euros) of new institutional business.
