All articles by Daniel Brooksbank – Page 202
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UBS asset management profit rises 29%
SWITZERLAND – Swiss bank UBS has seen pre-tax profits at its asset management arm rise 29%.
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Watson Wyatt publishes notional portfolio data
UK - Watson Wyatt has released the results a “notional” portfolio – to show how institutional investors might have performed if they had placed assets with investment managers that Watson Wyatt recommended.
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Luxembourg's ALFI names Seale as president
LUXEMBOURG - The Luxembourg Investment Funds Association, or ALFI, has named Thomas Seale as its new president, replacing Guy Legrand.
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Bolkestein: directive helps pension timebomb
EUROPE – European commissioner Frits Bolkestein has hailed the new directive on pan-European occupational pension funds – approved today by the European Council – as key in tackling the pension time bomb.
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Invesco’s UK institutional head leaves
UK – The chief executive of Invesco’s UK institutional business, Sarah Bates, is to leave the firm following a “realignment” of its operations.
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Schootse Poort warns on PVK solvency ruling
NETHERLANDS – The head of Dutch asset manager Schootse Poort has warned that regulatory requirements on pension fund solvency could “destroy” the Dutch pension fund industry.
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Reuters, Barra in asset management tie-up
UK – Information group Reuters has teamed up with US-based Barra to provide risk-management tools to asset managers.
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Each country needs own pension solution - UK
UK – The UK’s pension minister says each country will need to find its own solution to pension problems.
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AP3 says its key task is “portfolio mix”
SWEDEN – The 13 billion euro Swedish buffer fund Tredje AP-fonden, or AP3, says its most important task is defining the right portfolio mix to generate the most benefit.
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Ecofin to adopt pension directive
EUROPE - The Council of Economics and Finance Ministers, known as Ecofin, is set to adopt the occupational pensions directive “without discussion” tomorrow.
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Opra to check on corporate pensions
UK – The Occupational Pensions Regulatory Authority is launching a campaign to ensure that companies are offering staff access to a pension scheme.
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Watson has five clients for web pension system
UK – Consultancy firm Watson Wyatt says it has five clients for its ePA web-based pension administration system.
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Carillion appoints Threadneedle, LGIM for DC
UK – Business services company Carillion has appointed Legal & General Investment Management and Zurich Financial’s Threadneedle to run two new defined contribution pension schemes.
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UK’s Royal Mail sees pension deficit
UK – Postal operator Royal Mail says it expects to report a pension deficit in its annual accounts, though it declined to comment on press reports that the fund is billions of pounds in deficit.
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Akzo pension proposal seen as benchmark case
NETHERLANDS – A proposal by Dutch chemical group Akzo Nobel to restructure of its pension fund has been called a “benchmark case” for the Dutch corporate pension fund market.
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Merrill Lynch Investment Managers settles pension case
UK – Merrill Lynch Investment Managers has settled a legal dispute with the 2.1 billion pound (2.9 billion euro) pension scheme of the Co-operative Group.
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S&P says pension comparisons near “impossible”
EUROPE – Standard & Poor’s says it may be “virtually impossible” to compare pension accounting across borders.
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DeAM hires Hindle Fisher from UBS
UK - Deutsche Asset Management, the second largest manager of European pension assets, has hired the former UK head of UBS Asset Management.
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Goldman Sachs AM boosts European management
EUROPE – Goldman Sachs Asset Management has made several new appointments aimed at boosting its European institutional sales and marketing.
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Higher pensions in Hungary to complicate taxation
HUNGARY – A significant increase in pensions expenditure is a factor that will complicate the consolidation of Hungary’s fiscal system – according to the International Monetary Fund.
