All IPE articles in December 2004 (Online)
View all stories from this issue.
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News
TKP Pensioen takes over E13m Brunner Mond scheme
NETHERLANDS – TKP Investments BV, a subsidiary of the Dutch life insurer giant Aegon, is to manage the assets of the €13m Stichting Pensioenfonds Brunner Mond.
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IPE Seminar: Risk, Costs and Interest Rates
EUROPE – Top European pension executives have told the IPE Awards seminar in Zurich today that cost cutting, inflation and attitude to risk are among the most significant challenges for the future of the industry.
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Portuguese pensions funds show growth in Otober
PORTUGAL – Portuguese pension funds have returned an average 0.8% in October with Euro equities bringing the highest return, according to pension fund consultants Watson Wyatt.
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Higher payments seen in Poland indexation change
POLAND – Poland will see “substantially” higher pension payments in 2006 follow a change in the pension indexation system, a new report states.
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ABP named Best European Pension Fund
EUROPE – Stichting Pensioenfonds ABP, the largest pension fund in Europe, was tonight named the best pension fund in Europe at the annual IPE Awards in Zurich – winning for the second year in a row.
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CalPERS president in open war
US - A public spat has broken out at CalPERS, the world’s largest pension fund, as the president, Sean Harrigan, claimed he was to be ousted by political and corporate interests.
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UK broker effectively closes DB scheme (Update)
(Updates, recasts) UK - Brewin Dolphin, a UK stockbrokers and private client portfolio manager, has effectively closed its defined benefit pension fund to new members and those under 55, just as its finance director has reached that milestone.
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UK's Pension Protection Fund picks directors
The UK’s safety net for bust pension funds has appointed five non-executive directors, including the chairman of the £17bn Electricity Supply scheme, which has previously been critical of government attempts to help.
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(Correct) BA pension scheme seeks manager
(Clarifies not a mandate) UK – The British Airways Pension Investment Management Ltd is looking for a new fixed interest manager.
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European pensions show modest Q3 returns
EUROPE - Two surveys on pension fund results have shown modest positive returns across Europe.
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Axa hires Nutbrown for new tactical asset allocation division
Axa Investment Managers has hired Kieron Nutbrown to take the new role of head of tactical asset allocation (TAA) under his old boss, Paul Griffiths.
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Martin Currie sees big mandate wins but denies sale rumour
UK - Martin Currie Investment Management has won significant new mandates in its latest financial year but has denied speculation that its latest appointment signifies its planned sale.
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State Street GSS keeps British Airways custody
UK – State Street Corp. says it has retained a 10 billion-pound (14.4 billion-euro) custody mandate from the British Airways Pension Trustees’ pension fund - previously serviced by the Deutsche Bank’s Global Securities Services arm it bought in 2003.
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IPE-QUEST: UK pension fund tenders overlay
UK – A UK investment consultant has tendered a currency overlay brief worth 100 million pounds (145 million euros) via IPE-Quest.
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Refco boosts European institutional sales
EUROPE – Hedge fund firm Refco Alternative Investments has boosted its European hedge fund sales push with the appointment of a senior European sales executive.
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NAPF calls for consolidated pension regulation
UK – The chief executive of the National Association of Pensions Funds has called for the system of government organisations and so-called 'quangos' that regulates pension schemes to be consolidated.
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Harrigan voted out as CalPERS president
US – Sean Harrigan has been ousted as president of the California Public Employees’ Retirement System, or CalPERS.
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IBM in European pension pooling re-think
EUROPE – Computer giant IBM is understood to have had a re-think about pooling its European pension assets because of uncertainty over tax harmonisation.
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UK public pension spending to rise by E1.3bn
UK – The UK government projects that public pension spending will rise by 0.9 billion pounds (E1.3 billion euros) – on top of current expenditure – within the next four years.
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Goldbrunner to head Allianz’s AGI in Europe
EUROPE - Johann Goldbrunner, head of dbi, Allianz’s institutional fund business in Germany, will be appointed head of Europe for Allianz Global Investors (AGI), effective January 1, IPE has learned.
