All articles by Daniel Brooksbank – Page 140
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News
ADAM Nordic sales head joins Martin Currie
EUROPE – Martin Currie says it has hired Allianz Dresdner Asset Management’s head of Nordic sales, Simon Barrett.
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IPE-QUEST: Nordic fund tenders enlargement brief
EUROPE – A Nordic pension fund has tendered a mandate worth around 50 million euros for equities that will benefit from the enlargement of the European Union.
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Fortis Investments’ operating profit falls 9%
EUROPE – Fortis Investments’ net operating profit fell nine percent in the first quarter – although assets under management rose four percent.
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Slovenia to launch funded civil service DC scheme
SLOVENIA – The Republic of Slovenia is set to launch a funded defined contribution scheme for the civil service.
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Firms back European pension directive – Hewitt
EUROPE – Multinational companies in Europe “would welcome” the opportunity to have a single fund to finance their European Union-based pension obligations, according to a new survey by Hewitt Associates.
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Lane Clark & Peacock names new finance director
UK - Actuarial consulting firm Lane Clark & Peacock has named a former finance chief of Ernst & Young in Australia as its new finance director.
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Towers Perrin sees “massive" DC move
UK – Consulting firm Towers Perrin says there has been a “massive migration” to defined contribution schemes in the UK.
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SEI names Germany institutional head
EUROPE – SEI Investments has named Stephan Römer as head of institutional business development for Germany, Austria and Switzerland.
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Euro area ageing just a “business cycle away”
EUROPE – The onset of population ageing in the euro area will occur in the next business cycle, says the International Monetary Fund.
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Watson’s Urwin sees lower equity exposure in UK
EUROPE – Roger Urwin, global head of investment at Watson Wyatt LLP, says he expects UK pension schemes to lower their equity exposure in favour of bonds.
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Railpen keeps mum on railway pension dispute
UK – Railways Pensions Management, the manager of the pension assets for the UK rail industry, is keeping its own counsel on the current pension dispute in the rail industry.
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Munsters has cheap E1m mortgage with PGGM
NETHERLANDS – Roderick Munsters, chief investment officer of 53 billion-euro Dutch healthcare fund PGGM, has a discounted mortgage loan of almost one million euros with the fund.
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Norway’s Petroleum Fund grows to E111bn
NORWAY – The Petroleum Fund has grown to 915.3 billion crowns (111.2 billion euros), following a return of 2.9% in the first quarter.
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G7 finance ministers hail pension reforms
GLOBAL – Finance ministers at the Group of Seven industrial countries have hailed the role of “pro-growth” measures – including pension reforms – that have contributed to global growth of around 4.25%.
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ABP plans to allocate 20% to alternatives
NETHERLANDS – Stichting Pensioenfonds ABP says its new strategic asset allocation targets an allocation of 20% to alternative investments such as hedge funds and private equity, adding that avoiding short-term risk is “not on option”.
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UK rail workers to act over pension closure
UK – Members of the RMT union at UK rail infrastructure firm Network Rail have voted to take industrial action over pensions, travel concessions and pay.
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Aon names McKinlay head of investment practice
UK – Aon Consulting has named Ian McKinlay as head of its investment practice.
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Mellon names director of global institutional sales
GLOBAL – Mellon Financial has named Drew Pace as executive vice president and director of global institutional sales and marketing.
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Comet appoints Punter Southall as consultant
UK - Punter Southall & Co says it has been appointed as actuaries and consultants to the 100 million-pound (149 million-euro) pension fund of retailer Comet Group.
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BT Pension Scheme FRS17 deficit down 43%
UK – The British Telecom Pension Scheme’s deficit under the FRS17 accounting measure has been reduced by 43% to 3.6 billion pounds (5.3 billion euros).
