All articles by Daniel Brooksbank – Page 143
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Mercer says it's cooperating with US SEC
US – Mercer Investment Consulting is “fully cooperating” with the Securities and Exchange Commission’s investigation into the pay arrangements of pension fund consultants in the US.
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IASB issues multi-employer pension guidance
GLOBAL – The International Accounting Standards Board has issued draft guidance on accounting for multi-employer pension schemes.
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Robeco CEO quits after losing board support
NETHERLANDS – Robeco says chief executive Géry Daeninck has resigned as of June 30 and will be replaced by former Euronext executive George Möller.
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Sweden’s AP1 raises currency exposure to 20%
SWEDEN - The 139 billion-crown (15.2 billion-euro) Swedish buffer fund Första AP-fonden says it has raised the currency exposure in its strategic benchmark to 20%, from 15% previously.
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Mercer advises 39% of UK pension market – survey
UK – Mercer advises 39% of the top 1,000 UK pension schemes, according to a new survey by J P Morgan Fleming.
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Waddingham to head UK actuaries’ association
UK – The Association of Consulting Actuaries has voted Adrian Waddingham, a founding partner of consulting firm Barnett Waddingham, as chairman.
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KPN cuts strategic allocation to bonds
NETHERLANDS – Dutch telecoms firm KPN says its pension schemes have cut exposure to bonds to boost long-term performance.
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IPE-Quest: German fund tenders high-yield debt
GERMANY – A German consultant has tendered an initial 75 million euros in global high-yield debt for a German pension fund via IPE-Quest.
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Poschadel replaced as CEO at UBS’s GAM
GLOBAL – UBS’s GAM alternative investments unit has named David Solo as its new chief executive, replacing incumbent Burkhard Poschadel.
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AP3’s stock lending revenue rises 29%
SWEDEN – Sweden’s third national buffer fund, the 142.5 billion-crown (15.5 billion-euro) AP3, saw its revenue from stock lending rise by 29% in 2003.
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UK makes “market-based” soft commission proposal
UK – The UK’s financial services regulator has made a “market-based” proposal to deal with the issue of soft commissions.
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Hermes names real estate investment head
UK - Hermes Pensions Management has named Fiona Sweeney as its head of real estate investment management.
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New Lithuanian scheme could hit economy - report
LITHUANIA – Moody’s Investor Services says the second-pillar pension reform introduced by Lithuania this year could hit government revenues.
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US-based Watson Wyatt’s headcount falls 6%
US – Staff numbers at US consulting firm Watson Wyatt & Co. have fallen by 260, or 6.3%, in the past year, according to its latest earnings release.
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Luxembourg may face “vicious circle” on pensions
LUXEMBOURG – Luxembourg’s pension system, although well developed, is vulnerable and may be facing a “vicious circle”, a new report says.
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Sainsbury scheme eyes currency overlay
UK – The head of the 2.7 billion-pound (four billion-euro) pension fund of retailer J Sainsbury says the fund is considering a currency overlay strategy.
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Experts suggest EU asset management overhaul
EUROPE – A group of experts has suggested a far-reaching overhaul of asset management legislation in the European Union – possibly involving a “stand-alone asset management pillar” in EU rules.
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Experts urge EU to support cross-border pensions
EUROPE – A top-level group of experts has called on the European Commission to “provide succour” to help cross-border pension plans.
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UK sees rise in occupational pension income
UK – The UK’s statistical office says growth in retirement income has come from “substantial” rises in the income from occupational pensions and other sources
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AXA asset management revenues rise 25%
FRANCE – Revenues at AXA’s asset management businesses rose by 25.5% to 743 million euros in the first quarter.
