All IPE articles in December 2002 (Online)
View all stories from this issue.
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News
Barcelona to host European pensions summit
SPAIN – The European Pensions and Investing Summit is to take place in Barcelona on February 24 and 25 and will focus on active management, risk structures, alternative investments, professional governance and activism, say organisers Information Management Network.
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Stoxx managing director Stark leaves
SWITZERLAND – The managing director of European index provider Stoxx Ltd., Scott Stark, is to leave company and will be replaced on an interim basis by the SWX Swiss Exchange’s Ettore Candolfi.
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UK private equity: Epic in e76.8m float
UK – The 76.8 million euro flotation of Epic Brand Investments on the Alternative Investment Market shows there’s still life in the UK private equity market.
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Irish Pensions Board fines occupational trustees
IRELAND – The Irish Pensions Board says it has prosecuted the trustees of three occupational pension schemes – serving notice that it intends to pursue breaches of regulations through the courts where necessary.
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Danish pensions need market development – report
DENMARK – The Danish Insurance Association says the second and third pillars of Denmark’s pensions system should be developed by the market and that the country’s “robust” system must not be unbalanced by rash changes.
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Swedish R&D hit by e1.1bn foundation losses
SWEDEN - Swedish foundations’ losses on the equity markets have contributed to a drop in the funding of research and development in Sweden.
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Greece says pension viability vital for Europe
EUROPE – Greece has included pensions viability amongst a set of problems such as organised crime and immigration that it says the European Union must tackle in order to re-establish a climate of “security and confidence” for its citizens.
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Finland expects 200,000 pensions web visitors
FINLAND – The Central Pension Security Institute in Finland has launched a website for occupational pensions, and says it expects 200,00 visitors to the site in the first year.
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Aegon gets OK for French pensions buy
FRANCE – Dutch-based insurer Aegon says it has received regulatory approval to buy 20% of French pensions and life insurance specialist La Mondiale, in a step towards setting up a pan-European pensions group.
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UK names pension commissioners
UK – The UK government has named a trade union official and an academic as members of a commission investigating pensions policy.
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Denmark’s ATP names Sondergaard as chairman
DENMARK – Europe’s ninth largest pension fund, Denmark’s Arbejdsmarkedets Tillaegspension, has named Jorgen Sondergaard as its new chairman.
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UK’s Opra seeks policy officer
UK – The Occupational Pensions Regulatory Authority is seeking a senior policy officer to produce technical guidance and policy briefings.
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Swiss Life names SNB’s Gehrig as chairman
SWITZERLAND – Troubled Swiss Life Holding has named Swiss National Bank vice chairman Bruno Gehrig as non-executive chairman, replacing Andres Leuenberger.
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Pension fund in e50m equity mandate via IPE
EUROPE – Zurich-based consultant Kottmann Advisory, acting for a pension fund client, has placed a mandate for a 50 million euro equity portfolio via the IPE-Quest site.
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Europe begins legal process on German funds tax
EUROPE – The European Commission has begun a legal procedure against what it calls Germany’s “discriminatory” tax treatment of dividends from foreign funds.
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Professor calls for higher PAYG basic pensions
UK – A professor at the London School of Economics has called for a “much higher” level of pay-as-you-go state pensions and a ditching of the pretence that pensioners only get back what they put in via the national insurance scheme.
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Pension guarantees have economic costs – research
US – New research into personal pensions to be published by the Pension Research Council shows that there is a defined economic cost to pension guarantees, which the researchers say can be likened to a financial asset and priced accordingly.
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Sweden warns ABN Amro fund unit
SWEDEN – The Swedish financial regulator has warned ABN Amro’s Banco Fonder over violations to investment rules concerning the amount invested in unlisted securities – Banco says it may have mis-read the regulator’s intentions.
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Skandia sells American arm to Prudential
SWEDEN – Insurer and savings products company Skandia says it has agreed to sell its American arm to Prudential Financial Inc. for 1.15 billion dollars.
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Mercer questions UK pensions security
UK – Mercer Human Resource Consulting has questioned the government’s policy on ensuring the security of final salary pension schemes, saying there is incompatibility between the freedom of employers to fund the pension promise and the public’s being encouraged to believe in the promise’s security.
