All articles by Daniel Brooksbank – Page 120
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PME licences Mcube portfolio software
NETHERLANDS - PME, the 14 billion-euro pension fund for metal workers, has licensed portfolio decision software called AlphaEngine from Mcube Investment Technologies, according to an Mcube release.
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Citigroup loses AP1 custody to ABN Amro Mellon
SWEDEN - Första AP-Fonden, the First Swedish National Pension Fund or AP1, has awarded a 148 billion-crown (16 billion-euro) global custody brief to ABN Amro Mellon, resulting in a loss for Citigroup, which had held the mandate for 10 years.
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Ireland amends civil service early retirement
IRELAND – The Irish government has introduced what it calls “cost-neutral” early retirement for civil servants.
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Deutsche names European real estate research head
EUROPE – Deutsche Bank’s real estate arm has named Peter Hobbs as head of European real estate research.
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This week’s UK pension fund disclosures
UK – The following are UK pension funds’ holdings in companies that have been disclosed this week under the Financial Services Authority’s stock market listing rules.
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Robeco seeking CIO as Vriezen quits
NETHERLANDS – Marnix Vriezen, chief investment officer of Robeco for just over a year, has left the company amid a management shakeout by new chief executive George Möller.
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Warning over pension move into long-term bonds
GLOBAL – Pension funds have been warned that even a modest reallocation of assets into longer-term securities as they seek to match their liabilities could “overwhelm” the market.
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EU launches consultation on shareholder rights
EUROPE – The European Commission is seeking feedback from institutional investors as it puts together a proposed directive on corporate governance.
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Pensions savvy “helpful” for new UK regulator
UK – Knowledge of workplace pensions is only among the ‘helpful-to-have’ requirements of the chair of the new Pensions Regulator, according to the ad for the job.
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ADAM opens institutional office in Zurich
SWITZERLAND - Allianz Dresdner Asset Management says it has opened an office in Zurich focused on institutional clients – saying a “dynamic change” is happening in the market.
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Hewitt and Watson hire from Aon and ISIS
UK – Hewitt Bacon & Woodrow and Watson Wyatt LLP have both made senior appointments in the UK, hiring from Aon Consulting and ISIS Asset Management respectively.
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IBM declines comment on talk about UK scheme
UK – IBM’s top UK pensions executive has declined to comment on talk that the company’s is considering options – including wind-up - for its C-Plan scheme, part of its 3.5 billion-pound (5.1 billion-euro) UK pension arrangements.
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DB plans seen as fastest growing hedge investors
GLOBAL - Defined benefit pension schemes are expected to be the fastest growing source of institutional investors into hedge funds, according to a new survey.
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Trustee system outdated – Oxford’s Clark
GLOBAL – The existing system of pension fund governance in the US and UK – with its roots in the nineteenth century – does not reflect the “financial imperatives” of the 21st century, says Oxford University professor Gordon Clark.
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Hermes, DeAM officials join UK accounting board
UK – Tony Good, the former head of investment research at Norwich Union Investment Management who is now with Hermes, has joined the UK’s accounting standard Board – along with Peter Westlake of Deutsche Asset Management.
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CalPERS changes way it hires and fires managers
US - CalPERS, the largest pension fund in the US, is to change the way it hires and fires asset managers - setting up a "spring-fed pool" of managers that it can switch in and out of quickly.
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US SEC signals it may OK European funds
LUXEMBOURG – The US financial regulator, the Securities and Exchange Commission, has signalled that it may propose mutual recognition between US and European investment funds.
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Finnish finances boosted by employment pensions
FINLAND – Finnish general government finances are set to be boosted by the employment pensions sector, the finance ministry says.
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NAPF sees “no evidence” of short-termism
UK – The head of the National Association of Pension Funds says there is “no evidence” that asset managers are fired for poor short-term performance.
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Call for European agency for ageing
EUROPE - The European Economic and Social Committee is to debate a motion calling for a European Agency on Ageing.
