All articles by Daniel Brooksbank – Page 141
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News
Lattice scheme deficit down 31% under FRS17
UK – The Lattice Group Pension Scheme’s deficit under the FRS17 accounting measure has fallen by 31% in the last year.
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S&P names development head for European pensions
EUROPE – Standard & Poor’s has named Alex Weiland as head of business development for its new European pensions business.
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Hedge fund market “overheated” - Greenwich
GLOBAL – Greenwich Associates has warned of possible “overheating” in the hedge fund market – driven in part by a flood of pension capital.
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European finance CEOs call for pension reform
EUROPE - A group of Europe’s leading financial services executives have said pension reform is a key focus for the completion of the single European market.
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CalPERS says it beats benchmark by over 2%
US – CalPERS has said it returned 29.6% in the one-year period to the end of March, taking its assets to 165.8 billion dollars and beating its benchmark by more than two percent.
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Small UK schemes holding more bonds – actuaries
UK – The Association of Consulting Actuaries says smaller UK pension schemes have increased their holding of bonds over equities.
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Credit Suisse sells UK pension administration arm
UK – Credit Suisse’s Winterthur subsidiary has sold its pensions administration arm Personal Pension Management Ltd. to outsourcing firm Capita Group for an undisclosed sum.
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CalPERS selects pool of pension consultants
US – The 165 billion-dollar CalPERS pension fund has selected a pool of four consultants to assist it in special projects.
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Devon taps SSGA for E370m in passive equities
UK - The 1.2 billion-pound (1.78 billion-euro) Devon County Council pension scheme has awarded a 250 million-pound (370.7 million-euro) passive global equities mandate to State Street Global Advisors.
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DeAM names Lees as head of UK equities
UK – Deutsche Asset Management has named Peter Lees as head of UK equities, to replace John Wood who left earlier this month.
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PME awards E500m bond brief to PIMCO
NETHERLANDS – The 14 billion-euro Dutch metals industry pension fund PME, or Pensioenfonds voor de Metalektro, has awarded a 500 million-euro short-term bond mandate to PIMCO.
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Schroders loses E5.3bn in institutional outflows
UK – Schroders Plc says it had a net outflow of 3.6 billion pounds (5.3 billion euros) in its institutional business in the first three months of 2004.
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State Street names Europe client services head
UK – State Street Corp. has named Wade McDonald as head of client services in Europe and the UK.
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Ex-government aide joins Tesco pension trustees
UK – Lucy Neville-Rolfe, retailer Tesco’s new company secretary and a former government aide, has replaced Rowley Ager on its pension trustee board.
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T-Mobile awards actuarial consulting to Mercer
UK – Mercer Human Resource Consulting says it has been appointed to provide actuarial consulting services to the pension scheme of mobile phone firm T-Mobile.
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State Street sees up to E736m in new DeAM CCF
IRELAND – State Street says it expects the new Common Contractual Fund it has launched with funding from Deutsche Asset Management to grow to 500 million pounds (736 million euros) in around six months.
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Mercer says UK schemes cutting equity allocation
UK – Mercer Investment Consulting says the average allocation of UK pension schemes has declined by four percentage points to 64%.
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Pension funds may hit financial stability - study
EUROPE – A prominent economist has said the growth of pension funds may lead to “unfamiliar types” of financial instability.
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Mellon's Newton names UK institutional head
UK - Mellon Financial's Newton arm has named Mark Scott as head of its institutional business.
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Hammonds names senior pensions solicitor
UK - Law firm Hammonds says it has appointed Clifford Sims as senior pensions solicitor.
