All articles by Daniel Brooksbank – Page 189
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Hewitt ousts Mercer at Polestar pension scheme
UK – The 350 million-pound (504.2 million-euro) pension scheme of printing firm Polestar Group has awarded a pensions consulting job to Hewitt Bacon & Woodrow, resulting in a loss for rival Mercer.
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Researcher calls for pension fund database
UK – An academic researcher has called for a database of pension fund reports to be set up, saying it would inform the current debate about pensions.
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KLM says career-average pensions an option
NETHERLANDS – Dutch airline KLM has confirmed that it is discussions with the unions about pensions – and that career-average pensions are on the table.
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AXA backs derivatives for pension funds
GLOBAL – AXA Investment Managers has backed a recent academic study which suggested that pension funds should consider using derivatives.
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Janus names N. Europe institutional sales chief
EUROPE – Janus Capital has named Henrik Rox Hansen as institutional sales director for northern Europe.
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Nordea says hit by “major” mandate loss
SWEDEN – Nordea’s asset management division has been hit by the loss of a “major” institutional mandate.
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Brown Brothers Harriman targets European growth
UK - Privately-owned US bank Brown Brothers Harriman says it aims to set up a "direct custody facility" in the UK – as part of a move to boost its presence in Europe.
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Ireland admits slow take-up of PRSAs
IRELAND – Social and family affairs minister Mary Coughlan has admitted that the new Personal Retirement Savings Accounts have been slow to take off.
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Handelsbanken gets pension surplus boost
SWEDEN - Svenska Handelsbanken says its pension surplus is set to boost shareholder equity by around one billion crowns (107.6 million euros).
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UK’s Singer says hit by consultants’ changes
UK – Banking and fund management firm Singer & Friedlander says it has lost several institutional mandates as a result of shifts in strategy by consultants and asset allocation by clients.
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Swedish pension funds and euro set for debate
SWEDEN - There's to be a debate in Stockholm about the possible impact of the forthcoming euro referendum will have on Swedish pension funds.
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State Street nears capital adequacy limits
GLOBAL – State Street Corp. says it is nearing US regulatory limits on capital adequacy – but says it has enough capital to do what it wants to do
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AMF Pension posts first-half returns of 5.8%
SWEDEN - AMF Pension says it made a return on investments of 5.8% in the first half of this year.
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EU defends officials’ regional pension weighting
EUROPE – The European Commission has defended the system of regional weightings of officials’ pensions.
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Railpen hires ex-ISIS director Watts
UK - Railpen Investments, the investment arm of the UK Railways Pension Trustee Co., has hired Polly Watts, a former director of institutional funds at ISIS Asset Management.
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S&P says European fixed-interest funds rise 3%
EUROPE – The median European fixed interest fund for each of the main investment sectors rose by three percent over the first half of 2003, says Standard & Poor’s.
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Watson Wyatt Co. reveals “billing irregularities”
US – The US arm of pension consulting firm Watson Wyatt has postponed its fourth-quarter earnings report after disclosing “billing irregularities”.
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Hedge fund assets now almost $665bn – report
GLOBAL – Hedge fund assets are now almost 665 billion dollars, a record, according to Hedge Fund Research.
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Watson sees higher contributions, lower benefits
UK – Watson Wyatt has found that that many companies in the UK are raising member contributions and cutting benefits to cut pension costs.
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Bank of England warns companies on pensions
UK – The Bank of England has warned that companies risk losing staff if they cut pension provision or reduce pay to finance pension fund shortfalls.
