All articles by Daniel Brooksbank – Page 125
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UK coal scheme transfers E385m to cover deficit
UK – The 9.2 billion-pound (13.6 billion-euro) British Coal Staff Superannuation Scheme has transferred 259 million pounds from its investment reserve to cover a deficit in its 6.89 billion-pound Guaranteed Fund.
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Hymans makes “significant investment” in admin
UK – Consulting firm Hymans Robertson says it has made a “significant investment” in third party pensions administration with the selection of Comino Group’s Universal Pensions Management system.
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SSGA CEO Harbert dies of heart attack
GLOBAL – Tim Harbert, chairman and chief executive of State Street Global Advisors, has died of a heart attack.
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Kaupthing says it hires SSGA’s Wardi
NORDIC – Iceland’s Kaupthing, which recently set up a UK asset management business, says it has hired State Street Global Advisors’ Peik Wardi to boost its Northern European institutional business.
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Gartmore creates head of pooled products role
UK – Gartmore Investment Management says it has hired Kevin Scollan from J P Morgan Fleming Asset Management to the new role of head of pooled products.
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Prudent person remains at heart of Dutch code
NETHERLANDS – The so-called ‘prudent person’ principle of investment remains at the heart of the new Dutch code of pension fund governance.
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Consultant recognition key for Schroders – Fitch
UK – Recognition from investment consultants and improved investment performance are key for Schroder Investment Management, says Fitch Rating Services.
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Northern Trust boosts European multinats team
EUROPE - Northern Trust has boosted its European multinational pension fund team with the appointment of Claire Steele as senior relationship manager.
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Sweden: AP3 returns 5.7% in first half
SWEDEN – The 151.9 billion-crown (16.5 billion-euro) Swedish buffer fund Tredje AP-fonden, whose new chief executive Kerstin Hessius joins next week, says it made a 5.7% return on its investments in the first half.
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Aegon’s Kappelle named pension tax professor
NETHERLANDS - Herman Kappelle, head of Aegon’s legal and fiscal affairs arm, has been appointed special professor of tax law on pensions at the Vrije Universiteit Amsterdam.
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ABP-SSGA alliance buys governance firm stake
NETHERLANDS/US – The venture partnership between Stichting Pensioenfonds ABP and State Street Global Advisors has bought a minority stake in US corporate governance firm GovernanceMetrics International.
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FEFSI says investment fund assets rise 7.1%
GLOBAL – European investment fund association FEFSI says worldwide investment fund assets worldwide rose 7.1% in the first quarter of 2004 to 11.8 trillion euros.
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Fortis boosts Dublin prime fund solutions arm
IRELAND - Fortis Bank Information Banking has named new relationship managers for its Dublin prime fund solutions office.
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Singer & Friedlander CEO Hodson stands down
UK – John Hodson is to stand down as chief executive of Singer & Friedlander after 12 years in the job and be replaced by finance director Tony Shearer.
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Petroleum Fund funds seven new equity mandates
NORWAY – The 942.4 billion-crown (114.1 billion-euro) Petroleum Fund says it has funded seven new equity mandates - and that its second quarter return was –0.15%.
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London exchange issues governance guide
UK – The London Stock Exchange has published a guide to corporate governance in association with consulting firm RSM Robson Rhodes.
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UK doctors in pension timebomb warning
UK – The UK’doctors’ association has warned that planned higher pensions for consultants could lead to a potential shortage of senior doctors.
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Swedish equities boost AP1’s returns
SWEDEN – The 16 billion-euro Swedish buffer fund Första AP-fonden returned 5.5% in the first half of 2004 - on par with its strategic index - boosted by a 17% return on Swedish equities.
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Higham hires ex-Law Debenture pension head
UK – Richard Thomas, the former head of Law Debenture's pension fund trustee business, has joined pensions and life insurance services firm Higham Group.
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Benelux private equity market at zero – report
BENELUX – Fundraising in the private equity market in Benelux, valued in billions of euros at its peak a few years ago, saw zero activity in 2003 a new report says.
