All IPE articles in December 2004 (Online) – Page 4
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News
ABN Amro names global institutional sales chief
GLOBAL – ABN Amro Asset Management has named Frank Goasguen as its new head of global institutional sales.
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ABP, USS in warning over global drugs industry
GLOBAL – Two of Europe’s largest pension funds, Stichting Pensioenfonds ABP and the Universities Superannuation Scheme, have warned of continued “downward valuation” of the global pharmaceutical industry.
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SEC probes TIAA-CREF as trustees quit
US – US pension provider TIAA-CREF is being investigated by the Securities and Exchange Commission amid the resignation of two trustees over a conflict of interest involving Ernst & Young.
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Italy: charge of the 50-year-olds
ITALY - Workers over 50 years got 80% of the 225,000 jobs available in 2003 while the amount of pension-age workers who decided not to retire was up 5.2%.
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Activest revamps asset management activities
GERMANY - Activest has undertaken a revamp of its asset management activities, deciding to limit its competence to four main areas: asset allocation, absolute returns, disciplined equity and spread strategies with bonds.
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UK: CSAM relaunches strategic service for funds
UK - Credit Suisse Asset Management says it has relaunched its strategic allocation service for small to medium pension funds.
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Swiss railways on track with pension revamp
SWITZERLAND - The Swiss Federal Railways, SBB, says it will trade off a collective pay rise for its employees against the costs for the financial reorganisation of its 11 billion-franc (7.1 billion-euro) pension fund.
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Aegon raises stake in French mutual
FRANCE – Dutch life assurance giant Aegon has raised its stake in French mutual life assurer La Mondiale Participations to 35% from 20%.
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Horlick returns to City with Bramdean
UK – Institutional multi-manager and fund management consultancy Bramdean Asset Management will begin operating in January.
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Positive November for Portuguese pensions funds
PORTUGAL -- Portuguese pension funds had a positive November on the back of a good month in the financial markets, according to pension fund consultant Watson Wyatt.
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Dutch hairdressers in court win
NETHERLANDS – ANKO, the Dutch hairdressers employers’ organisation, is not obliged to transfer its early retirement scheme (VUT) into a pre-pension, a court in the Netherlands has ruled.
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AP1 replaces fixed income head Gustafson
SWEDEN – The 148.1 billion-crown (16.4 billion-euro) First Swedish National Pension Fund, Första AP-fonden or AP 1, has replaced its head of fixed income, Hans Gustafson, with insurer AFA Försäkring’s Arnold Fahlén.
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UBS GAM says it gets German pension boost
GERMANY - Citing strong demand for the management of German pension assets, UBS Global Asset Management says it has posted a “double-digit” rise in total assets under management in Germany this year.
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UK employers split on occupational pensions
UK – A split has emerged over company attitudes to occupational pensions - with a call for compulsion from engineering employers at odds with Confederation of British Industry policy.
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Dutch schemes go into bonds – statistics office
NETHERLANDS - Insurance companies and pension funds in the Netherlands have significantly increased their investments in foreign bonds, Statistics Netherlands has said.
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Pen-Sam completes DKK6bn mandate switch
DENMARK -- Denmark's DKK47.0bn Pen-Sam Pensionfund has completed a restructuring of some DKK4.5bn of its DKK8bn equity portfolio with the awarding of a DKK1.1bn US equities index mandate to Nordea Investment Management ad a DKK1bn US all-cap equity mandate to T. Rowe Price.
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Dutch civil servants in pension age warning
NETHERLANDS – The official retirement age in the Netherlands should be raised from 65 to 67, Dutch top civil servants have warned.
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UK voluntary schemes in 'last chance saloon'
UNITED KINGDOM – The current voluntary approach to pensions in Britain is in the ‘last chance saloon’, a taskforce has warned.
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F&C unveils inflation-linked bond fund
EUROPE - F&C Asset Management has launched a euro-denominated inflation-linked bond fund aimed at pension funds and insurance companies struggling with liabilities.
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Citigroup consultant head Duffain joins Pioneer
EUROPE - Pioneer Investments says it has hired Kerry Duffain from Citigroup Asset Management to be head of investment consultant relations in Europe.
