All articles by Daniel Brooksbank – Page 113
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USS, PGGM in broker research initiative
EUROPE - Two of Europe's largest pension funds, the UK's USS and the Netherlands' PGGM are among the founding members of an initiative to challenge sell-side research.
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IBM UK cleared by Pension Ombudsman
UK – None of a series of complaints against computer giant IBM have been upheld by the Pensions Ombudsman, a pensioner group says.
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UK’s protection fund seeks investment head
UK – The Pension Protection Fund has advertised for a director of investment and finance to oversee its assets and resources.
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Mercer parent Q3 earnings delayed amid probe
GLOBAL – Marsh & McLennan Companies, the parent of pension consulting firm Mercer, has delayed its third-quarter earnings report amid a regulatory probe that has already cost its chief executive his job.
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Jardine Lloyd unveils fixed-cost consulting
UK - Jardine Lloyd Thompson has launched a new service offering pension consulting for defined benefit schemes at a fixed cost of around 10,000 pounds (14,400 euros) for a typical 500-member scheme.
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Crisis-hit Commission acts on pensions tax
EUROPE – The European Commission, in turmoil today with the collpase of José Manuel Barroso’s team, has taken action against Belgium and Italy over discriminatory pension taxation rules.
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STOXX unveils enlarged Europe indices
EUROPE – Index provider STOXX has launched two indices covering new members of the European Union.
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Nordea asset management revenues slip
NORDIC – Nordea has seen its asset management revenues edge down on a sequential basis – although institutional client assets are slightly higher.
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Bank of NY names European finance chief
EUROPE - The Bank of New York has named Angus Cameron as chief financial officer for its operations in Europe, a new role.
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ABP's Maassen confirmed as EFRP chairman
EUROPE - ABP's Jaap Maassen has been confirmed as chairman of the European Federation for Retirement Provision, replacing Alan Pickering.
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AP7 renews SRI mandate with GES
SWEDEN - The five billion-euro Sjunde AP-fonden, the seventh Swedish national pension fund or AP7, has renewed its socially responsible mandate with GES Investment Services.
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ADAM gains E9bn and changes name
EUROPE – Allianz Dresdner Asset Management, recording a nine billion-euro net asset inflow in the first half, has announced that it will change its name.
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New French and UK members for EFRP
EUROPE - The French asset management association and the UK insurance industry body have been named as full members of the European Federation for Retirement Provision.
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UK acts on pension “liability dumping” fears
UK – The government has acted over fears that companies would be able to dump their pension liabilities onto the new Pension Protection Fund.
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Mercer’s parent MMC names new CEO
GLOBAL - Marsh & McLennan Companies, the parent of consulting firm Mercer, has named a new chief executive as it seeks to resolve its “legal and regulatory issues”.
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Irish funds industry surpasses $500bn – report
IRELAND - The Irish funds industry grew by more than 30% in domiciled net assets over the last year to more than 500 billion dollars (410 billion euros), according to Fitzrovia International’s Dublin Fund Encyclopaedia.
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Danica Pension in E255m shift to equities
DENMARK – Danica Pension, the life insurance and pension arm of Danske Bank which has a large bond portfolio, has made a 1.9 billion-crown (255 million-euro) net investment in equities.
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MLIM unveils new equity fund for pension funds
UK - Merrill Lynch Investment Managers has followed the launch of a "portable alpha" solution with a new UK equity fund aimed at pension funds and charities which looks to "maximise total returns".
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BNP Paribas centralises multi-management
EUROPE - BNP Paribas says it has centralised its multi-management teams in one independent investment company called Cortal Consors Fund Management.
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Pension strategy a priority for corporates - JLT
UK - Corporate management need to be more familiar with pension scheme investment strategy amid a "shift of power" between employers and trustees, says consulting firm Jardine Lloyd Thompson.
