All articles by Daniel Brooksbank – Page 213
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ABP affiliate Innovest unveils “carbon beta”
UK – We may in future be talking of portfolios in terms of their “carbon beta” if a project in which Dutch pension fund ABP has a stake takes off.
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AP3 says new IASB proposals “too complex”
SWEDEN – Tredje AP-fonden, Sweden’s third national buffer fund known as AP3, says draft proposals for share-based payments drawn up by the International Accounting Standards Board are too complex and that disclosure requirements are too extensive.
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UK’s Brown calls for pension barriers to fall
UK – The UK’s finance minister has called for the removal of European cross-border barriers to the diversification of investments in pension funds.
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Unigestion swings to profit, goes private
SWITZERLAND - Swiss alternative investments firm Unigestion – reporting a swing to profit in 2002 - is to take itself into private ownership.
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Dutch pension funds buy e20bn of equities
NETHERLANDS – Dutch pension funds bought eight billion euros worth of bonds and 20 billion euros in equities in 2002, according to government statistics.
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Daily ETF trading hits $7.2bn
GLOBAL - Average daily trading volume in exchange-traded funds has risen to 161 million shares or 7.2 billion dollars at the end of February, up from 143 million shares or 6.3 billion dollars at the end of 2002.
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SEI hires UK sales chief from Lombard Odier
UK – US-based asset manager SEI Investments has hired an executive from Swiss private bank Lombard Odier Darier Hentsch as its new head of UK institutional sales.
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UCITS now 78% of European fund market
BELGIUM – UCITS, or Undertakings for Collective Investment in Transferable Securities, now account for almost 78% of the European investment fund market, according to new data from the European Federation of Investment Funds and Companies, FEFSI.
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UK e1bn council pension fund names actuary
UK – The 700 million pound (1.02 billion euro) Dorset Council Pension Fund in southern England has appointed a subsidiary of South Africa’s Sanlam to provide actuarial services.
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Irish managed funds fall 21% - Mercer
IRELAND – Group pension managed funds declined by more than 21% in the year to the end of February, according to data provided by Mercer Investment Consulting.
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New Codan pension product beats expectations
DENMARK – Danish insurance group Codan says sales of its new personal pension product have “exceeded expectations” and that profits at its life and pensions division have surged.
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ECB rate cut raises pressure on pension funds
EUROPE – The European Central Bank’s quarter-point rate cut today is likely to increase the pressure on pension funds, analysts said.
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EU Parliament sets pensions vote
EUROPE – The European Parliament has pencilled in March 11 for a vote on the Pension Funds Directive, with Parliamentary rapporteur Othmar Karas saying supplementary cross-border pensions are set to “come closer”.
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Summary of today’s UK pension deficit disclosures
UK – With several large UK companies reporting their pension liabilities alongside their 2002 earnings today, here is a summary of the main points
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State Street hints at custody acquisition
UK – State Street Corp. says it would not rule out a further global custody acquisition as the industry consolidates.
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Dutch pension returns hit new low
NETHERLANDS – Performance measurement company WM Co. says Dutch pension fund returns in 2002 were the lowest since it began measuring them.
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Ireland to “grasp nettle” on pensions
IRELAND – The Irish government says it will “grasp the nettle” if it finds that it needs to make supplementary pensions mandatory.
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UK pension schemes took e26bn in contribution holidays
UK – UK pension schemes took contribution holidays or contribution reductions worth a total of 17.9 billion pounds (26 billion euros) during the 1987-2001 period, according to government data.
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HSBC AM hires Schroders’ Rodgers
UK – HSBC Asset Management has hired Chris Rodgers from Schroder Investment Management to be its head of UK equities.
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Accountants debate pension liabilities
UK – There’s a lively online debate taking place amongst accountants about the merits - or otherwise - of including actuarial liabilities within the financial reports of pension schemes.
