All articles by Daniel Brooksbank – Page 193
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Pension reform not enough on its own – OECD
GLOBAL – The Organisation for Economic Cooperation and Development says pension reform by itself is not enough to deal with the problems of ageing populations – behaviour and attitudes must change as well.
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Mercer says UK pension gap could be E423bn
UK – Mercer Human Resource Consulting has estimated that, taking everything into account, the total combined pension fund deficits of UK companies could be up to 300 million pounds (423 billion euros).
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UK pension returns at 4-year high - CAPS
UK – Pooled balanced pension funds made a median return of 11.2% in the second quarter – the best quarterly returns for almost four years - according to new data from Russell/Mellon CAPS.
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Irish Pensions Board to probe DC growth
IRELAND – The Irish Pensions Board is to examine the switch towards defined contribution pensions, citing member protection and “the ultimate adequacy of pension provision”.
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Allianz’s Pimco names UK fixed income head
UK – Pimco has named Rothschild Asset Management’s Michael Amey as its new head of UK fixed income.
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Finland's LGPI sticks with State Street/Deutsche
FINLAND - Finland's 12 billion-euro Kuntien eläkevakuutus, or Local Government Pensions Institution, has stuck with the former Global Securities Services arm of Deutsche Bank which is now part of State Street.
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UBS GAM boosts European property team
EUROPE - UBS Global Asset Management has boosted its continental European real estate team with the recruitment of three executives from property firm Lend Lease.
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UK managers want freedom from benchmarks – poll
UK – Hewitt Bacon & Woodrow has found that most UK fund managers believe that benchmarking against an index prevents them from backing their best ideas and that so-called unconstrained mandates would lead to improved portfolio performance.
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European institutions eye US real estate - PGI
EUROPE - European institutions are showing an increased appetite for US real estate, says the new chief executive of US-based asset management firm Principal Global Investors' European operations.
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Towers advises against rash pension decisions
UK – Consulting firm Towers Perrin has warned companies not to make rash decisions when dealing with pensions issues – saying there is a danger of being “too decisive”.
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Aegon to cut up to 450 jobs in revamp
NETHERLANDS – Aegon is to cut up to 450 jobs in a consolidation of its business units...
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German e7bn VBL fund appoints Universal and BNP Paribas
GERMANY - The leading public pension fund in Germany, Versorgungswerk des Bundes und der Lander, or VBL, has mandated market leader Universal Investment to act as its Master KAG and BNP Paribas Securities Services as the global custodian.
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Belgian funds on course to return 6.5% this year - ABIP
BELGIUM – The Belgian pension fund association says that, on current trends, Belgian pension funds could return around 6.5% in 2003.
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FERI launches European fund data product
EUROPE - Fund groups in Europe no longer have to work blind as a result of a new data product, claims Rodney Williams, managing director of London-based FERI FMI...
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EU acts on investment fund discrimination
EUROPE – The European Commission has asked Germany and Austria to end discrimination against foreign investment funds and is seeking information from France.
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Portuguese pension funds net buyers of equities
PORTUGAL – Pension funds in Portugal were net buyers of equities in the first quarter, according to new data from Watson Wyatt.
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Pioneer Alternatives opens London office
EUROPE - Pioneer Alternative Investments has opened a London office as part of an ambitious expansion plan.
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UK union threatens action on retirement age
UK – The main civil servants union has threatened industrial action over government plans to raise the retirement age for public sector workers.
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Commission takes on Denmark over pension taxation
EUROPE – The European Commission has decided to take Denmark to the European Court of Justice over pension tax discrimination, as well as starting infringement procedures against the UK and Ireland.
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State Street says 3,100 take voluntary redundancy
US – State Street Corp. says that 3,100 of its employees have opted to take voluntary redundancy – more than it expected. A spokesman said the cuts would all be in the US.
