All IPE articles in December 2004 (Online) – Page 3
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News
Erste targets pension funds with inflation-linked
AUSTRIA – Austrian asset manager Erste Sparinvest has launched two inflation-linked bond funds mainly aimed at pension funds and institutional investors.
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ABP sees 4-5% return in 2005 amid bond shakeout
NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s biggest pension fund, expects the return on its 160 billion-euro portfolio over 2005 to come in at between four and five percent.
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AP3 names hedge fund exec as equities head
SWEDEN - The 152 billion-crown (17 billion-euro) Third Swedish National Pension Fund, Tredje AP-fonden or AP3, has appointed a hedge fund manager from Nordea as its new head of equities.
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Swiss schemes' funding position improves - BSV
SWITZERLAND - The number of under-funded Swiss pension funds has gone down from 19.8% in 2002 to 11.9% in 2003, according to a survey of Swiss Federal Office for Social Security – BSV.
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Germany’s BVK seeks managers (Update)
(Updates to amend Alpha reference) GERMANY - Bayerische Versorgungskammer (BVK), Germany’s largest pension fund with 30 billion euros in assets, plans to award up to 200 million euros worth of fixed income mandates over the next two years, IPE has learned.
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IPE-QUEST: German scheme tenders US large caps
GERMANY - A German pension fund has tendered a 75 million-dollar (56.3 million-euro) US Large-Cap mandate via IPE-Quest.
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CS sees heavy demand for Swiss real estate fund
SWITZERLAND – Credit Suisse says institutional investors and banks have shown great interest in a new Swiss real estate fund.
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BVK using Alpha advisors for hedge mandates
GERMANY - German investment consultant Alpha Portfolio Advisors says it has been retained by Bayerische Versorgungskammer (BVK) for three fund of hedge fund mandates worth 100 million euros recently allocated by the scheme.
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OPEC founder sees institutions’ oil price impact
GLOBAL – Sheikh Ahmed Zaki Yamani, former Saudi Arabian oil minister and one of the architects of the OPEC oil cartel, has highlighted the role of institutional investors in the current high oil price environment.
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AXA IM transfers 217 staff to State Street
EUROPE – AXA Investment Managers says it has completed the previously announced 300 billion-euro outsourcing of its investment operations, with an initial 217 staff transferring to State Street.
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Towers Perrin hires two consultants from rivals
EUROPE – Towers Perrin says increasing demand from European multinational companies is behind its recruitment of two consultants from rival firms and the transfer of another from its Toronto office.
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Aon sees Dutch FTK leading to “landslide”
NETHERLANDS - The introduction of new regulations to calculate Dutch pension premiums and commitments will lead to “a landslide”, according to consulting firm Aon.
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KPMG critical of Dutch firms’ pension closures
NETHERLANDS – Companies in the Netherlands are too quick to push through closures of their pension funds, accountants at KPMG have said.
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Pension portability directive seen in Spring
EUROPE – The European Commission is planning a draft directive on occupational pension portability for next Spring, according to a Brussels-based consultant at Hewitt Associates.
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Bristol Water scheme shifts to fixed income
UK – The pension scheme of utility firm Bristol Water is shifting to fixed income from equities in a bid to redress a 9.8 million-pound deficit following equity market declines.
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IPE-QUEST: Dutch scheme requests bond info
NETHERLANDS - A Dutch pension has put out a request for information for a 37 million-euro credit bonds mandate through IPE-Quest.
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UK consults on civil service pensions
UK – The UK government has launched a consultation on proposed changes to civil service pension arrangements featuring a shift to average-salary and a change in the retirement age to 65.
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There are no safe pensions - Germany's Rürup
GERMANY - Bert Rürup, the economist who headed Germany’s commission on pensions, has said there are no safe pensions.
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Gasunie pension scheme set to split
NETHERLANDS - The 650 million-euro pension scheme of gas supply and transport company Gasunie may be split in two next year, as the company prepares to divide its transport and supply operations.
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RCP sees E47bn demand for German hedge funds
GERMANY - Investor demand for German-domiciled hedge funds, which made their debut at the start of 2004, should grow to an average of 47 billion euros four years from now, according to a study by RCP & Partners.
