All articles by Daniel Brooksbank – Page 220
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UK’s Opra calls for more defined role
UK – The Occupational Pensions Regulatory Authority has called for the planned new pensions regulator to have clearly-defined responsibilities, saying that current pensions law lacks definition – which it admits has restricted its operations and caused frustration.
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Karas says directive unacceptable in current form
EUROPE – The European Parliament’s pensions rapporteur Othmar Karas has said the European Commission’s common position on the Pensions Funds Directive “cannot yet be accepted” in its present version, saying the social security of beneficiaries should be taken into account.
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Actuaries say bonds best for meeting liabilities
UK – The top actuarial body in the UK says inflation-linked bonds have the “highest probability” of meeting wage-linked liabilities.
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ABP takes 10%-15% stake in SRI firm Innovest
NETHERLANDS - Stichting Pensioenfonds ABP, Europe's largest pension fund, has bought a 10%-15% stake in socially responsible investing investment research and advisory firm Innovest Strategic Value Advisors for an undisclosed sum.
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Ex-KPMG pensions head Evers joins Aon
UK – Actuarial consultant Aon has hired Charles Evers, a former head of KPMG’s pensions practice, as a principal in its executive benefits practice.
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Mercer survey: European managers see SRI growth
EUROPE – Seventy-five percent of European fund managers expect socially responsible mandates to increase in Europe in 2003, with a similar figure expecting investment industry consolidation – according to new research by Mercer Investment Consulting.
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Honig to head Rabobank’s Robeco in France
FRANCE – Andre Honig has been named managing director of Robeco Gestions in Paris, the French arm of Dutch bank Rabobank’s asset management division.
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Bank Leu issues hedge fund RFP
SWITZERLAND – Bank Leu has issued a request for proposal for its new Swiss-registered hedge fund products, though it did not disclose the size of mandates.
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EC advisor to speak on European pension models
HUNGARY – An advisor on pensions to the Economic and Financial Affairs Directorate of the European Commission is among the speakers at a forum in Budapest that will discuss European pension models.
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Risk expert to give Watson Wyatt lecture
UK – A professor in insurance and risk management is to give the annual Watson Wyatt lecture on managing corporate risk in London in March.
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Transfer of pensions ranks low for companies
EUROPE – The ability to transfer pensions across Europe ranks low on European business leaders’ agenda, according to a survey conducted for parcel delivery company UPS.
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ECB “does not underestimate pension difficulties”
EUROPE – A senior official at the European Central Bank has said the bank does not underestimate the difficulties about the sustainability of Europe’s pension system and the flexibility of labour markets.
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UK’s L&G wins pension business from consultants
UK – UK insurer Legal & General says it is winning pensions business from fee-based consultants, as well as benefiting from pension funds’ switching to an indexed core with active satellite structure.
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UK trustees see corporate governance impact
UK – Reflecting the higher profile corporate governance is now taking for the pension industry, a survey of UK pension trustees reveals that a majority see good corporate governance as the most important factor in the performance of UK stocks in the long term.
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Euro-area investment funds fall in 2002
EUROPE – The European Central Bank says residents in the euro area held a total of 3.04 trillion euros in investment funds at the end of the second quarter of 2002, a decline from the prior year period’s 3.29 trillion euros.
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Glasgow IM the worst UK fund manager – HSBC
UK – The HSBC Actuaries and Consultants’ annual survey of UK balanced pension fund managers reveals that Glasgow Investment Managers is the worst performing fund manager in the UK, with J P Morgan Fleming coming out top.
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Invesco hires DC experts from Deutsche, Mercers
UK – Invesco has hired the head of Deutsche Asset Management’s defined contributions sales and a European principal from Mercer Human Resource Consulting as it seeks to gain market share.
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Siemens’ pensions lose e1.2bn
GERMANY – Industrial group Siemens says its worldwide pension plans lost 1.2 billion euros in fiscal 2002 and that it added 442 million euros to its pensions trusts in Germany and the UK and transferred 377 million euros in real estate to its German pension trust in the first quarter.
