All articles by Daniel Brooksbank – Page 159
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BGI co-CEO sees big boost for liability matching
UK – The co-chief executive of Barclays Global Investors, Andrew Skirton, says he sees a move in the “tens of billions” towards liability matching.
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CSAM reports E1.5bn asset outflow in Q4
SWITZERLAND – Credit Suisse Asset Management has recorded a 2.4 billion Swiss-franc (1.5 billion-euro) net outflow of assets in the fourth quarter.
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EU social affairs commissioner stands aside
EUROPE – The European Commission’s social affairs and employment commissioner Anna Diamantopoulou is to abstain from her duties to become a candidate in the Greek elections.
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ABP sues US telecoms firm Qwest for $100m
NETHERLANDS/US – The Dutch civil service pension fund Stichting Pensioenfonds ABP is suing US telecoms group Qwest Communications International for 100 million dollars (78.9 million euros).
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BaFIN set to unveil fund derivatives guidelines
GERMANY – Financial regulator BaFIN is set to introduce a set of guidelines covering the use of derivatives in investment funds.
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CEIOPS sets up occupational pensions work group
EUROPE – The new top-level Committee of European Insurance and Occupational Pensions Supervisors has held its first plenary meeting, which saw the creation of a working group for occupational pensions.
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Pensions unlikely to hit prices - Bank of England
UK – The Bank of England says it does not expect higher corporate pension contributions to lead to higher prices – though it does acknowledge that non-wage compensation has risen to around 15% of total pay, against 13% in 1998.
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UBS adds E8.1bn in institutional assets
SWITZERLAND – UBS says its Global Asset Management unit added 12.7 billion Swiss francs (8.1 billion euros) in net new institutional money in 2003.
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Threadneedle names Gresser as alternatives head
UK – Threadneedle Investments has named Lorin Gresser as head of its alternative investments business.
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Philips pension fund moves away from equities
NETHERLANDS - The 12.5 billion-euro Dutch pension fund of electronics company Philips is targeting an allocation of 38% equities in 2004 - down from 46% in 2002.
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Citigroup enters global transition management
GLOBAL – Citigroup has launched a global transition management business to be headed by Sharon Egilinsky and Tim Wilkinson.
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New president at Society of Pension Consultants
UK – Robert Birmingham has been named the president of the Society of Pension Consultants, and will take over from Donald Duval when he completes his two-year term at the end of May.
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BBH says it hires State Street’s Genoud in Zurich
SWITZERLAND - Brown Brothers Harriman says it has named Daniel Genoud as managing director of its Zurich office – taking over from Nicolas Wyss and Rolf Scheidegger who are both retiring.
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InterSec says Swiss pension funds return 9%
SWITZERLAND – Performance measurement firm InterSec says Swiss pension fund portfolios rose nine percent in 2003 and three percent in the fourth quarter.
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Dutch pension fund in hedge tender via IPE-Quest
NETHERLANDS – A Dutch pension fund has tendered a 10 million-euro hedge fund mandate via IPE-Quest.
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IPE Awards to be held in Zurich in November
EUROPE - IPE has announced the IPE Awards 2004 will be held in Switzerland at Zurich’s Kongresshaus on November 30.
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ABN Amro Mellon sets up Frankfurt branch
GERMANY - ABN Amro Mellon Global Securities Services has opened an office in Frankfurt and hired Michelle Grundmann from Merrill Lynch Investment Managers to run it.
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UK’s Universities scheme names new CEO
UK – The Universities Superannuation Scheme has named a professional manager, Tom Merchant, as chief executive following the retirement of David Chynoweth.
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HSBC backs fund-of-hedge-funds for pension funds
UK – HSBC says funds of hedge funds have an “interesting return profile” for pension funds and that there are “very real” diversification benefits.
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CIOs see 32% rise in hedge fund assets
EUROPE – The chief investment officers at European and US investment managers expect a 32% rise in hedge fund assets under management in the next year, according to a new survey.
