All articles by Daniel Brooksbank – Page 95
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Invesco pensions head joins UK protection fund
UK – The Pension Protection Fund has named Invesco’s Alan Duncan as director of operations.
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Denmark's ATP sets aside €3.76bn for low rates
DENMARK - ATP, Denmark's largest pension scheme, has set aside an extra DKK28bn (€3.76bn) to help it deal with low interest rates.
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UK actuaries warn of “huge dangers” of DC
UK – The head of the actuarial profession in the UK has warned that the country faces “huge dangers” with defined contribution pension provision.
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Hewitt names Brandorff to head consulting
GLOBAL - Hewitt Associates has named Perry Brandorff, its European head, as president of its consulting business.
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UK sets out six pension reform principles
UK – Pensions minister Alan Johnson has set out six principles to underpin the reform of state and private pensions.
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Gaz de France pension liabilities set at €1.6bn
FRANCE – Gaz de France says its pension liabilities are limited to €1.625bn following the implementation of France’s pension reform.
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Nordea loses €1.3bn in institutional assets
SWEDEN – Nordea says it lost a total of €1.3bn of institutional assets under management in the fourth quarter of 2004 – hit by industry consolidation.
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JP Morgan Investor Services launches tax info
GLOBAL – JP Morgan Investor Services has launched a tax information service for institutional investors such as pension schemes.
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Skandia is main supplier in Max Matthiessen deal
SWEDEN – Skandia says it has been named as the main supplier in a SEK1bn (€109m) four-year Swedish occupational pensions procurement deal run by brokerage firm Max Matthiessen.
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European schemes ‘like hedge funds in FX market’
EUROPE – Large continental European pension schemes with currency mandates are in effect acting like hedge funds in the foreign exchange market, says a top currency manager at State Street.
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IPE-QUEST: tender for up to $50m defaulted debt
SCANDINAVIA – A Scandinavian pension fund has tendered for a manager to invest up to $50m (€37.9m) globally or regionally in defaulted debt via IPE-QUEST.
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Suez in Luxembourg pension pooling move
LUXEMBOURG – Kredietbank’s Luxembourg arm says it has launched a €1.1bn pension pooling vehicle for the Suez-Tractebel group.
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Study slams companies' 'insider-trustees'
UK – A new academic study has found evidence that company-nominated trustees at UK defined benefit pension schemes act in the interest of shareholders, not the pension fund.
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Denmark: occupational schemes now ‘dominant’
DENMARK – Occupational pension schemes are taking a “clearly dominant” position in the pension savings market, says the Danish Insurance Association.
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Capita names life and pensions sales director
UK - Capita Life and Pensions has appointed John Connor as its new sales and marketing director.
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T. Rowe’s European client head Elsmark leaves
EUROPE – Christian Elsmark, vice president of investment services for T. Rowe Price in Europe, has left.
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Consultants ‘putting UK schemes off hedge funds’
UK – Consultants’ advice and the perception of risk are putting UK pension schemes off investing in hedge funds and private equity, JP Morgan Fleming Asset Management says.
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Credit Lyonnais sues Watson Wyatt over pensions
UK – Watson Wyatt says it has received a claim from Credit Lyonnais alleging it was negligent in undertaking valuation work for the French bank’s UK pension scheme.
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DB pensions better for well-being – researchers
US – Defined benefit pension schemes are better for people’s well-being than “more risky” defined contribution schemes, researchers in the US say.
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Finland’s Varma earns 8% return in 2004
FINLAND – Varma, Finland’s largest private sector pension insurer, made an eight percent return on investments in 2004 - but said it would continue to “rationalise” its operations.
