All IPE articles in December 2004 (Online) – Page 5
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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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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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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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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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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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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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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.
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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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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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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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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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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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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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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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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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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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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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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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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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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.
