All articles by Daniel Brooksbank – Page 158
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Top UK firms set to clear pension deficit – Aon
UK – Aon Consulting says companies in the FTSE 100 index could clear their pension deficit by the end of this year if markets move favourably.
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ABP, PGGM award extra E6bn to AlpInvest
NETHERLANDS – The two largest Dutch pension funds, ABP and PGGM, have awarded a further six billion euros to AlpInvest Partners, taking the former NIB Capital Private Equity’s total mandate to 20 billion euros.
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EU says German reform may not suffice
GERMANY – The European Commission says Germany’s Agenda 2010 reform plans may not be enough to offset the impact of ageing.
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Andersson steps down as head of Handelsbanken AM
SWEDEN - Björn Andersson is to step down as head of Handelsbanken Asset Management and be replaced by Ulf Riese from Handelsbanken Finans.
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Bundesbank sees lower pensions, later retirement
GERMANY – A board member of the German central bank has said a combination of lower pensions and later retirement “makes sense”.
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DeAM set to unveil heads of UK product teams
UK – Deutsche Asset Management, the second largest manager of European pension assets, is set to unveil the heads of its planned seven new UK investment teams soon.
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Reuters to revamp asset management division
UK – Jane Platt, president of buy side strategy at Reuters, says the information firm will announce a revamp of its asset management operations on April 2.
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Watson Wyatt names Ramamurthy as European head
EUROPE – Babloo Ramamurthy is to take over as managing partner of Watson Wyatt LLP from Alan Whalley, who is to become US regional manager of Watson Wyatt & Co.
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Pension surpluses to boost Swedish credit – S&P
SWEDEN – Ratings agency Standard & Poor’s says “large and sustained” pension surpluses in the pension system will see the government becoming a net creditor.
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Sweden’s AP3 makes total return of 16.2%
SWEDEN – AP3 says its total return in 2003 was 16.2%, taking its value to 142.5 billion crowns (15.5 billion euros).
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Consultants late to hedge funds – HSBC hedge CEO
UK – The chief executive of HSBC’s fund of hedge fund business Republic says pension consultants have been late in realising the benefits of hedge funds.
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SEI names sales director for Germany
GERMANY - Asset manager SEI has named Nadine Fugert as sales director for Germany, to be based in Munich.
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PGGM lobbying against Staatsen proposals
NETHERLANDS – PGGM says it is lobbying against proposed curbs to pension funds’ non-core activities, saying it has three main concerns – on exit strategy, timing and the role of the regulator.
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BGI still largest European pension manager
EUROPE – Barclays Global Investments is still the largest manager of European pension fund assets, according to consulting firm Mercer.
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Dutch funds face curbs to non-core activities
NETHERLANDS – Dutch pension funds are facing restrictions to their non-core activities following comments by social security minister Mark Rutte.
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Lane Clark buys E&Y's Belgian actuarial practice
BELGIUM - Lane Clark & Peacock has bought Ernst & Young's actuarial practice in Belgium - which it said is the first stage of a plan to boost its pan-European service.
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PGGM’s de Beus joins F&C board
NETHERLANDS/UK – Dick de Beus, outgoing chairman of the 53 billion-euro Dutch healthcare and social work pension fund PGGM, is to join the board of asset manager F&C Management.
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Bulgaria raises 2nd-pillar contributions
BULGARIA – The Bulgarian government says it has raised the share of social security contributions to second-pillar to three percent.
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T. Rowe Price European assets rise to E3.4bn
EUROPE – US-based asset manager T. Rowe Price says its assets under management in Europe have risen to 4.4 billion dollars (3.4 billion euros) at the end of 2003.
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UK’s new pension bill more “onerous” for trustees
UK – The government says its new Pensions Bill released today imposes more “onerous duties” on trustees and other people involved in pension management.
