All articles by Daniel Brooksbank – Page 184
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Union Bancaire Privée outsources E5.5bn to EFA
SWITZERLAND – Swiss private bank Union Bancaire Privée has decided to outsource its fund administration to Luxembourg-based European Fund Administration.
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ICI pension schemes award E100m to Muzinich
UK – An increasing number of UK pension schemes are allocating assets to high yield bonds, says investment manager Muzinich, which has just won mandates from two of chemicals group ICI’s pension funds.
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Big Dutch pension funds and associations slam reform
NETHERLANDS – The two largest Dutch pension funds and the OPF and VB associations have roundly criticised the Dutch government’s pension-reform plans.
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Elections put Spanish pension reform on hold
SPAIN – Forthcoming elections have put a hold on Spain’s pension reform, says investment consultant Mercer.
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Ireland: too soon to judge firms’ PRSA take-up
IRELAND – The Irish pensions regulator says it is too soon to say how many companies fulfilled their legal requirement to sign a Personal Retirement Savings Account contract by September 15.
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Netherlands scraps early retirement tax breaks
NETHERLANDS – The Dutch government has scrapped tax breaks for early retirement and pre-pension schemes in a bid to encourage workers to remain in the labour market for longer.
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Fund managers turn bullish – Merrill survey
GLOBAL – Merrill Lynch’s monthly survey of fund managers has found that global fund managers’ sentiment has turned bullish amid what it termed “cyclical euphoria”.
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Hermes boosts private equity team
UK – Hermes’ private equity arm has hired an investment director from CVC Capital Partners.
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Investment Solutions in UK multi-manager launch
UK – South Africa’s Investment Solutions, part of the same group as consulting firm Lane Clark & Peacock, has launched a multi-manager platform in the UK.
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Swedish euro vote has little pension impact
SWEDEN – Sweden’s decision to reject the euro is not seen as having a major impact on Swedish pension industry.
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Aberdeen Asset Management sells AVI
UK – Aberdeen Asset Management has decided to sell its Asset Value Investors subsidiary to its management.
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Lithuania “should raise pension contributions”
LITHUANIA – Lithuania should expand the scope of its pension reform by raising contribution rates, says the International Monetary Fund.
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SSGA names new Nordic marketing chief
BELGIUM - State Street Global Advisors has named Laurent De Greef as its new director of marketing for the Nordic region.
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AP1 hires head of alternative investments
SWEDEN – The 126.6 billion-Swedish crown (13.7 billion-euro) Swedish reserve fund Forsta AP-fonden has hired a head of alternatives.
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UK hails “encouraging” stakeholder statistics
UK – The UK government has called new figures on the take-up of stakeholder pensions “encouraging” - though the opposition disagrees.
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Germany: Mercer takes on 38 PwC pension staff
GERMANY – Mercer Human Resource Consulting has taken on up to 38 pension staff in a deal with consulting firm PricewaterhouseCoopers.
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Devon pension scheme investment chief to retire
UK – Ian Faulkner, investment manager of the 2.1 billion-pound (2.99 billion-euro) Devon County Council Pension Fund, is to retire next year.
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More Dutch pension assets now externally managed
NETHERLANDS – Almost three-quarters of Dutch pension fund assets are now externally managed, according to a new report by consulting firm Bureau Bosch.
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Matheson pension plan opts for Russell
UK – The Matheson Group Pension Plan has awarded a 20 million-pound (28.5 million-euro) multi-manager mandate to Russell.
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Metalektro allocates 10% of assets to high-yield
NETHERLANDS – Pensioenfonds Metalektro, the 12.5 billion-euro pension fund for the Dutch metals industry, has allocated more than 10% of its portfolio to high-yielding fixed income in a bid to improve returns.
