All IPE articles in December 2004 (Online) – Page 4
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News
UK managers unveil new hedge and cash funds
UK -- Threadneedle Asset Management is to launch its Threadneedle Global Crescendo Fund towards the end of the first quarter of next year.
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UK ban on forced retirement
UK – British workers can no longer be forced to retire before 65, the British government has said.
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Mixed response to ETF pensions report
UK -- British trade unions responded to Monday’s employer task force (ETF) report on pensions by calling for compulsion to be part of any long-term solution to the pensions crisis.
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Early retirement not an option - Belgian official
BELGIUM - The president of Belgian's Senate commission on social affairs has remarked that the early retirement is “no longer an option” for the 'baby boom' generation born after the World War II.
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Deutsche Börse’s Clearstream custody assets rise
EUROPE – Clearstream, the custody and settlement division of exchange operator Börse Group, says client assets under custody rose 3.3% in November.
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Corporate governance index launched
NEW YORK/LONDON – FTSE Group and corporate governance group Institutional Shareholder Services (ISS) today launched the first phase of the joint FTSE ISS Corporate Governance Index (CGI) Series.
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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.
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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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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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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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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 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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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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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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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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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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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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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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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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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.
