All articles by Daniel Brooksbank – Page 171
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Italians take to streets over pension reform
ITALY – Italians took to the streets of Rome on Saturday in protest at the government’s pension reform plans – though the government says the action will complicate matters.
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Corp. of London hands custody to ABN Amro Mellon
UK - The Corporation of London, the municipality for the City of London financial district, has awarded an 800 million-pound (1.1 billion-euro) custody mandate to ABN Amro Mellon.
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Allianz sets up asset management admin arm
GERMANY – Allianz’s Deutscher Investment Trust says it wants to position its new Fondsdepot subsidiary as an independent administrative centre for the asset management industry.
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Final Tabaksblatt governance report due
NETHERLANDS – The final report of the Tabaksblatt committee of corporate governance will be presented to the Dutch government tomorrow.
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Petroleum Fund tenders active equity mandates
NORWAY – The 803 billion-crown (99.4 billion-euro) Petroleum Fund is seeking managers to run active global and emerging market equities.
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Average Irish pension fund slips –0.5%
IRELAND - Group pension managed funds returned an average -0.5% in November, according to new data.
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AMF Pension names AP4’s McPhee as CIO
SWEDEN – AP4’s head of performance and risk control, Sarah McPhee, has accepted what she termed an “irresistible offer” to join AMF Pension as chief investment officer.
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KPMG sells Swiss and Belgian consulting arms
EUROPE – KPMG has sold Swiss and Belgian consulting operations to Mercer and Aon respectively.
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Aegon awards E19bn custody mandate to KAS
NETHERLANDS – Aegon Asset Management Netherlands has awarded KAS Bank a 19 billion-euro mandate for the custody and administration of European bonds and Dutch equities.
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Ageing could boost German markets – report
GERMANY – A new academic report has argued that demographic ageing is not necessarily a bad thing for German capital markets.
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Watson sees average global funding at 80%
GLOBAL – Watson Wyatt has estimated the average funding level in the global pensions industry at 80%.
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DeAM says it rejigs UK client team
UK - Deutsche Asset Management has rejigged its UK client relationship team after the departure of Simon Peck and Roger Morris.
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CalPERS to put up to $18bn into enhanced index
US – The 155.8 billion-dollar (128.5 billion-euro) US pension fund CalPERS plans to put up to 18 billion dollars into enhanced index investment strategies.
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Metalektro to allocate E700m to commodities
NETHERLANDS – Metalekro, the 14 billion-euro pension fund for the Dutch metals industry, is to allocate 700 million euros, or five percent of its assets, to commodities.
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WM says average UK pension fund rises 3.6%
UK - The average UK pension fund rose by 3.6% in the third quarter of 2003 – taking the total return for the year to date to 10.3% - says performance measurement firm WM Co.
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TNO puts E30m into hedge funds
NETHERLANDS – The 1.3 billion-euro pension fund of Dutch research institute TNO has allocated 30 million euros to hedge funds, taking the cash out of equities.
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EFRP sees E10bn savings from new pension model
EUROPE – The European Federation for Retirement Provision (EFRP) has unveiled an update to its cross-border occupational pension model, the EIORP, which it says could lead to annual savings for the European pension fund industry of up to 10 billion euros.
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Swiss fund tenders E32m via IPE-Quest
SWITZERLAND – A Swiss pension fund has tendered a mandate for enhanced Swiss equities worth 50 million Swiss francs (32 million euros) via IPE-Quest.
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Kvaerner taps J P Morgan for hedge mandate
UK – The two billion-euro Kvaerner Pension Fund has awarded a 25 million-pound (35.5 million-euro) hedge fund of funds mandate to J P Morgan.
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PGGM names new equities and fixed income heads
NETHERLANDS – The 49.7 billion-euro Dutch healthcare pension fund PGGM, which recently named a new chairman, has named new heads for equities and fixed income.
