All articles by Daniel Brooksbank – Page 208
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ABP mulls options as returns decline further
NETHERLANDS – Europe’s largest pension fund, the Dutch civil service Stichting Pensioenfonds ABP, says it needs scope to take “decisive action” after posting another decline in returns in the first quarter.
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FTSE plans small-cap index series
UK – Index provider FTSE is set to launch a global small-cap index series.
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Minister to speak at World Pension conference
IRELAND – Ireland’s minister for social and family affairs Mary Coughlan is to make the keynote speech at the world Pension Association’s annual conference in Dublin later this month.
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CSAM names DiMaio as head of alternatives
GLOBAL – Credit Suisse has named Jack DiMaio as chief executive of alternative investments at its Credit Suisse Asset Management division.
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Consultant tenders mandates via IPE-Quest
SWITZERLAND – A Swiss-based consultant has tendered a global hedge fund of funds and a convertible debt mandate via IPE-Quest.
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Asset managers chastened by market falls
NETHERLANDS - Executives of European asset managers appeared chastened by current market conditions at a conference today, with one saying the sole challenge for 2003 is to survive without losing any more money.
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PGGM sees cross-border opportunities of directive
NETHERLANDS - The chief economist at Europe's second largest pension fund, the 47 billion euro Dutch health and social service PGGM, says the European Pension Fund Directive has opened up "irresistible" opportunities for all European pension players.
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IAPF sees directive leading to a ‘wall of money’
NETHERLANDS - The head of the Irish Association of Pension Funds says he expects a "wall of money" to enter the equity market as a result of the Pension Funds Directive.
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Fortis sees PAYG woes as an ‘opportunity'
NETHERLANDS - Dutch asset management company Fortis Investment Management says the current problems facing the European pay as you go pensions systems present opportunities for asset managers.
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ING outlines strategy to grow pensions business
NETHERLANDS – Dutch bank ING has outlined its strategy to grow its international pensions business, saying that pensions is an example of how it can combine insurance, banking and asset management.
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Euroclear says turnover rises 14%
BELGIUM – The value of the securities transactions settled by clearing and settlement company Euroclear in 2002 rose by 14% in 2002 – though the value of securities held in custody slipped.
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Irish pension managed funds fall almost 5%
IRELAND – Group pension managed fund returns declined almost five percent in the first three months of 2003, according to two new reports.
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Germany must back pension reform – Allianz
GERMANY – Life insurer Allianz Lebensversicherungs has called for the German federal government to get behind its private pension reform.
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Reform seen prompting Norwegian pensions growth
NORWAY – The work of the Norwegian Pension Commission is expected to lead to growth in the country’s pensions market, says market leader Storebrand.
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Hewitt Bacon & Woodrow cuts seven UK jobs
UK – Pensions consultancy firm Hewitt Bacon & Woodrow has cut seven staff in its investment team in a “rebalancing” of its operations.
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Insurer tenders mandates via IPE-Quest
UK – An insurance company multi-manager in the UK has tendered two segregated mandates via IPE-Quest for sterling credit and European bonds worth more than 50 million dollars apiece.
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UK Post Office pension chief leaves
UK – Dermot Courtier, the head of pensions and retirement provision at the Post Office, has left and been replaced on an interim basis by Tim Carney.
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UK funds confront US firms on green issues
UK – A group of public sector pension funds in the UK is to back proposals for better environmental reporting by US companies.
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BoNY European vice president Sloan leaves
EUROPE – Securities services provider the Bank of New York’s European vice president of corporate communications has left.
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CalPERS names investment heads
US – CalPERS, the largest pension fund in the US, has appointed a new chairman and vice chair of its investment committee.
