All articles by Daniel Brooksbank – Page 77
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Funded schemes could boost Germany – IMF
GERMANY – The International Monetary Fund says funded pension schemes could provide a boost to the German financial system.
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CEIOPS highlights interest-rate volatility
EUROPE – CEIOPS, the European pensions supervisory committee, has highlighted that marking liabilities to market values means that interest rates will become a “real element” in pension fund risk management.
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UK’s FSA seeks to ease own pension deficit
UK – Financial watchdog the Financial Services Authority made £6.7m (€10m) in contributions in the last financial year to ease a deficit of almost £80m in its own pension scheme.
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Standard Life taps Mellon for fund servicing
IRELAND - Standard Life Investments has tapped Mellon Financial to service an $11bn (€9.1bn) Dublin-based money market fund.
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Pioneer, BNP Paribas sign separate US fund deals
US - UniCredito's Pioneer and BNP Paribas Asset Management have both announced separate agreements to buy US fund firms today.
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French reserve fund to invest €600m in SRI
FRANCE - The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has started to select managers for up to six socially responsible investing mandates worth a total of €600m.
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Chemicals firm Ciba taps Watson (Update)
UK – Watson Wyatt says it has been appointed by chemicals firm Ciba Specialty Chemicals to manage its UK pensions administration and accounting, replacing KPMG (Updates with fresh quotes).
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Report warns pension funds about climate risk
GLOBAL – A new report has warned pension fund trustees that they need to consider climate change if they want to do the best for their beneficiaries.
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Central banks query hedge fund diversification
GLOBAL – The Bank for International Settlements, the central banks’ central bank, says fund managers’ claims about the diversification benefits of hedge funds may be overstated.
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Putnam institutional chief Boneparth retires
GLOBAL – John Boneparth, head of global institutional management at Putnam Investments, is to retire in September.
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JP Morgan sees virtual pension pooling by Q4
UK – JP Morgan says it could have a UK pension fund client in a virtual pooling arrangement by the fourth quarter of this year.
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Dutch building schemes in €21bn merger
NETHERLANDS – The Dutch building industry pension fund managers ASW and Cordares have agreed to merge to create an entity with €21bn in assets.
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EU directive may mean market convergence - CEA
EUROPE – The European insurance association says the new directive on occupational pensions could lead to convergence in the European pensions market.
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Mercer hires ex-IAPF chief for new Irish unit
IRELAND – John Feely, former chairman of the Irish Association of Pension Funds, has joined Mercer to head its new retirement solutions arm in Ireland.
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Citigroup exits asset management business
GLOBAL – Citigroup has confirmed it is exiting the asset management business in a $3.7bn (€3.1bn) deal with Legg Mason.
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Henderson names Germany sales head
GERMANY - Henderson Global Investors has named Uwe Diehl to head of sales for Germany and Austria.
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Irish, Dutch schemes in German real estate move
GERMANY – Irish and Dutch pension funds are among the backers who’ve put $140m (€116.2m) into a German residential real estate venture called DeWAG.
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Asset managers want hedge fund tax debate
UK – The UK’s asset management trade body has called for a debate about the tax position of hedge funds.
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Boots using swaps to improve liability matching
UK – Retailer Boots, which made a high-profile switch into an all-bond portfolio in 2001, says its strategy of using swaps to match pension liabilities is now almost complete.
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Dutch metals scheme PMT eyes dynamic strategy
NETHERLANDS – The €24bn Dutch metals industry pension scheme Pensioenfonds Metaal en Techniek says it is mulling a more “dynamic” asset strategy.
