All IPE articles in December 2004 (Online) – Page 6
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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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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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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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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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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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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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State Street’s Princeton arm opens Amsterdam office
NETHERLANDS - Princeton Financial Systems, a wholly owned subsidiary of financial services giant State Street, has opened an office in Amsterdam.
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Pension Protection Fund quiet amid T&N crisis
UK – The Pension Protection Fund appeared to be keeping its own counsel today over the crisis-hit Turner & Newall Pension Scheme, which could be facing wind-up after parent company Federal-Mogul withdrew its offer to continue the scheme.
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Dutch SBA shifts investment strategy (Update)
(Updates with more details) NETHERLANDS – The 11 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) says it will overhaul its investment strategy.
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Dutch OPF slams “irresponsible” Pensions Bill
NETHERLANDS – The Dutch corporate pension fund association, the OPF, has slammed the government’s timing of the new pensions bill, calling its introduction in 2006 “irresponsible lawmaking”.
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EU to review fund industry amid pension timebomb
EUROPE – Calling the current framework for investment funds “an old banger”, Europe’s new internal market commissioner Charlie McCreevy says he will review the asset management industry in a bid to help defuse the pensions timebomb.
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Hermes sees conflict in government trustee plan
UK – Hermes, the pension manager owned by the BT Pension Scheme, has said there is a conflict between the demands for increased trustee professionalism and the requirement for members to nominate 50% of trustees.
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Pension funds seeking yield in FX market – BIS
GLOBAL – Pension funds are helping to drive activity in the foreign exchange market as part of a “global search for yield” the Bank for International Settlements says.
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Benkner named head of DeAM in Europe
EUROPE - Deutsche Bank is to relocate Deutsche Asset Management’s headquarters to Frankfurt from London amid a revamp that has seen Paul Manduca replaced by Axel Benkner as DeAM’s European chief executive.
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Skandia’s Nammack sets up own firm
SWEDEN - Kristian Nammack, the head of external asset management at Stockholm-based Skandia Liv Kapitalförvaltning, has left the group to set up his own company.
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Pension funds to save “millions” in ITG-EXN deal
EUROPE – Pension funds could be set to save millions of pounds as a result of Posit operator ITG Europe’s plans to buy E-Crossnet, or EXN, the equities crossing network that is owned by asset management firms.
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Strike threat over UK civil service pensions
UK – The government has confirmed it is reviewing the Civil Service Pension Scheme – prompting the threat of strikes from the unions.
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Red faces over Dutch pension bill error
NETHERLANDS – The Dutch government and Parliament have to repair a mistake in the country’s new Pensions bill, it has emerged.
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UK debt office consults on long-dated bonds
UK – The UK’s Debt Management Office has launched a consultation on ultra-long dated government bonds following talks with the pension industry this summer.
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IPE Awards – the full list of winners
EUROPE – The full list of country and themed-award winners at this week’s IPE Awards is now available below.
