All articles by Daniel Brooksbank – Page 91
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Swedish AP funds in tobacco move
SWEDEN – Corporate governance representatives of two of Sweden’s national buffer funds could be set to join a key committee at tobacco products firm Swedish Match.
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Investors facing hedge fund “disappointment”
EUROPE – Investors in hedge funds could face disappointment, according to separate reports from Watson Wyatt and UBS.
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International investing best for returns – study
GLOBAL – A new academic study has found that international investment brings better returns and that the reasons for limiting foreign investing are weak.
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Dutch scheme members to discuss ethics
NETHERLANDS – Dirk Witteveen, board member of the Dutch central bank and former head of the pension regulator PVK, is to discuss pension ethics at a forum next month.
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UK consults on scheme funding ahead of directive
UK – The UK government is consulting on defined benefit pension scheme funding ahead of the implementation of the EU occupational pension directive.
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Mercer European multi-manager plans
GLOBAL – Mercer says plans are now “well under way” to expand its new multi-management service into the UK, Ireland and continental Europe following its US launch.
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L&G says pension funds still shifting to bonds
UK – Legal & General reckons pension funds’ shift towards bonds and away from equities has not yet run its course.
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CSAM names finance chief for UK and France
EUROPE - Credit Suisse Asset Management has named Mark Tickle as chief financial officer for the UK, France, eastern Europe and Spain.
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AP1 sells stake in hydroelectric firm
SWEDEN – Första AP-fonden, the SEK156.8bn (€17.3bn) Swedish buffer fund, has sold its 50% stake in hydroelectric power firm Iggesund Kraft to forestry firm Holmen for SEK41m.
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Finland sees small rise in pension applications
FINLAND – Finland has seen a “moderate” rise in old-age pension applications following reform to the system, according to the Finnish Centre for Pensions.
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Ex-Watson Wyatt partner Douse joins new bank
UK – Sue Douse, the former partner at Watson Wyatt who left Schroders after less than a year, has joined a new merchant bank as its London head.
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Commerzbank integrates fund sales and production
GERMANY – Commerzbank says it will integrate investment fund sales and production in a bid to boost return on equity.
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SSGA's UK MD Wightman resigns (Update)
UK – State Street Global Advisors has lost its second senior executive in less than a week, with the resignation of UK managing director Nigel Wightman (updates with more information).
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S&P warns on ageing impact on country ratings
EUROPE – Rating agency Standard & Poor’s has warned that spending related to ageing could hit the credit ratings of five developed countries – Italy, Germany, France, the UK and US.
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New NAPF chairman wants Myners rethink
UK – The incoming chairman of the National Association of Pension Funds has called for a rethink of the Myners Principles of institutional investment, saying it was a mis-step.
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Consultant warns of hedge fund ‘contagion’
UK – A leading pension consultant has warned that hedge funds could represent a contagion to the global financial markets.
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UK Merchant Navy scheme in high-yield boost
UK – The £3bn Merchant Navy Officers’ Pension Fund is set to raise its allocation to high yield bonds, says director of investments Alick Stevenson.
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Optimal allocation is up to30%in real estate-study
EUROPE –European investors should invest up to 30% in real estate in their quest for optimal asset allocation, according to a study by the Center for Research on Pensions and Welfare Policies (Cerp) suggests.
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ING Secuties Services’ Cremer leaves
THE NETHERLANDS – Ingrid Cremer, marketing and communication manager for ING Securities Services in The Netherlands, has left the firm.
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ABP's incoming chief warns against bonds, preferring commodities
UK – Roderick Munsters, the incoming investment chief at the €168bn Dutch civil service fund Stichting Pensioenfonds ABP says he thinks bonds are not currently attractive – and that he wouldn’t bet against commodities.
