All articles by Daniel Brooksbank – Page 114
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Put all pension assets into bonds – UK actuaries
UK – A paper prepared for the Institute of Actuaries says the optimal policy for defined benefit pension schemes is to fully fund liabilities and invest all assets in low-risk bonds.
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MLIM launches portable alpha for pension funds
UK - Merrill Lynch Investment Managers says it has launched a so-called "portable alpha" solution for pension fund clients, offered via a Jersey-based pooled umbrella vehicle.
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Pension asset picks hit firms - Nobel laureate
GLOBAL – Nobel Prize-winning economist Robert Merton says the asset allocation of corporate pension funds has a larger than acknowledged impact on the economic value of the companies.
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Mercer faces borrowing curb amid Spitzer suit
GLOBAL – Consulting firm Mercer faces a curb on further borrowing as parent firm Marsh & McLennan Companies deals with a lawsuit from New York Attorney General Eliot Spitzer.
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ECB warns on accession states’ pensions
EUROPE – The European Central Bank has warned that demographic shift will be more severe in most of 11 non-euro area member states than the European Union average.
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Belgian building fund taps BoNY for transition
BELGIUM - The Belgian industry-wide construction scheme has selected the Bank of New York for global transition management, the bank said.
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Citigroup buys ABN Amro domestic custody business
GLOBAL – Citigroup is to buy parts of ABN Amro’s domestic custody business, including operations in the Netherlands, Greece, Poland and Russia, for an undisclosed sum.
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UK aims to centralise police pensions
UK – The UK government says it is reviewing the police pensions system – with a view to taking responsibility “back to the centre”.
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IPE-QUEST: European manager tenders EM brief
EUROPE – A European asset manager is seeking a specialist manager to manage a Latin America emerging market portfolio on a sub-adviser basis via IPE-Quest.
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BoNY securities servicing hit by weak markets
GLOBAL – The Bank of New York, posting lower quarterly profits, says its securities servicing business was hit by weak capital markets in the third quarter.
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Pickering to step down as EFRP chairman
EUROPE- Alan Pickering is to step down as chairman of the European Federation for Retirement Provision (EFRP) this month after three years in the role.
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Alecta, AP2 involved in Electrolux board choice
SWEDEN – Swedish pension institutions Alecta and Andra AP-fonden are among investors that have been drafted in to help nominate board members at household products firm Electrolux.
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Regulator claims pan-European DB unlikely
EUROPE- Pan-European defined benefit (DB) pension schemes face “obstacles” under the new directives, according to Anne Maher, head of the Irish pensions regulator.
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Hedge funds will lower VaR - Watson Wyatt
IRELAND- Hedge funds produce lower returns than equities but cut risks according to a senior figure at Watson Wyatt in Ireland.
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Multinationals in bid to control trustees- Mercer
IRELAND - Multinational companies are trying to exert control over subsidiaries’ trustee boards according to a senior consultant at Mercer.
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SPW taps State Street for fund accounting
NETHERLANDS – The 2.4 billion-euro Dutch housing association scheme Stichting Pensioenfonds voor de Woningcorporaties has expanded its relationship with State Street Corp.
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Mercer’s parent company MMC sued by Spitzer
US – March & McLennan Companies, the parent company of consulting firm Mercer, has been sued by New York Attorney General Eliot Spitzer in a corruption probe.
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Schemes should look at emerging markets - study
GLOBAL – Pension schemes in the developed world should look at investing in emerging markets in the light of the shift to defined contribution, problems with PAYG and funding gaps, a study published by the International Monetary Fund argues.
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UK’s Turner joins Pensions Institute
UK – Adair Turner, the chairman of the Pension Commission which presented its first report this week, has joined the Pension Institute at the Cass Business School.
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Romania sets out 2005 pension measures
ROMANIA – The government has laid out the measures it will implement in 2005 to ensure pension sustainability.
