All articles by Daniel Brooksbank – Page 129
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IAS19 to affect pension design – Watson Wyatt
EUROPE – Consulting firm Watson Wyatt says the IAS19 accounting standard for retirement benefits will affect the way companies consider pension scheme obligations and plan design.
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Asset manager hires pension fund
UK – Asset management firm AXA has tapped pension scheme-owned Hermes to run a set of passive funds.
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PGGM discontinues chief economist role
NETHERLANDS – The Dutch health care fund PGGM’s appointment of Peter Kraneveld as special adviser means that the chief economist role no longer exists at the scheme.
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Turkey sets deadline for pension reform decision
TURKEY – The Turkish government has set said it will decide on its strategy for reforming its pension system by the end of the third quarter of this year.
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ABN Amro's institutional AUM fall
EUROPE – Institutional assets under management at ABN Amro’s asset management arm have fallen to around 86.3 billion euros at the second quarter from almost 88 billion euros at the first quarter of 2004.
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FEFSI rejects legal action on pension directive
EUROPE – European investment fund association FEFSI says it doesn’t intend to take legal action over the European pension directive – despite earlier saying the directive is discriminatory.
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Mellon to buy currency management firm Pareto
GLOBAL – Mellon Financial Corp. is to buy the 70% of currency management firm Pareto Partners that it does not already own for an undisclosed sum.
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Janus says client to withdraw $5bn
US – An unnamed client is to pull five billion dollars (4.1 billion euros) from Janus Capital by the end of the year.
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KPMG granted leave to appeal pensions ruling
UK – Consulting firm KPMG says it has been granted leave to appeal a High Court ruling that said its closed pension scheme is defined benefit not defined contribution.
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Deutsche Post uses share-sale cash for pensions
GERMANY – Logistics company Deutsche Post says it will use the proceeds of its recent initial public offering to cut its pension obligations.
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Standard Life unveils manager-of-manager range
UK - Standard Life Investments has launched a range of manager-of-managers pension funds in conjunction with Wilshire Associates.
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Deutsche’s assets under management fall E15bn
EUROPE – Assets under management at Deutsche Bank’s asset management division fell by 15 billion euros, or two percent, in the second-quarter.
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French reserve fund taps State Street for overlay
FRANCE – The 16 billion-euro French pensions reserve fund, the Fonds de Réserve pour les Retraites, has awarded a currency overlay mandate to State Street Global Advisors.
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PGGM names Kraneveld as special adviser
NETHERLANDS – PGGM, the second largest Dutch pension fund, has named its former chief economist Peter Kraneveld as special adviser for international affairs, with a brief to monitor EU legislation.
