All IPE articles in December 2004 (Online) – Page 7
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News
EU’s CEIOPS sees IFRS introducing volatility
EUROPE - The Committee of European Insurance and Occupational Pension Supervisors has said that the introduction of new accounting standards for pensions will increase liabilities and introduce volatility.
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FEFSI says UCITS sales slow in Q3
EUROPE – European investment fund body FEFSI says net sales of UCITS slowed down in the third quarter of 2004 to 14 billion euros - from 24 billion euros in the second quarter.
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SWIP registers Italian mutual fund range
ITALY - Scottish Widows Investment Partnership says it has registered its mutual fund range for sale in Italy.
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Germany: F&C to offer SRI option next year
GERMANY – F&C aims to offer institutional clients a socially responsible investing option next year, according to Claus Heidrich, co-head of F&C’s German branch.
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S&P in Russian equity index move
RUSSIA - RTS Stock Exchange (RTS), the Moscow-based stock exchange, and Standard & Poor’s are to develop a “new generation” of Russian equity indices.
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Bank of England chief eyes longevity bonds
UK - The governor of the Bank of England, Mervyn King, has suggested that the government issue longevity bonds to help annuity providers to hedge longevity risk.
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Goldbrunner to head Allianz’s AGI in Europe
EUROPE - Johann Goldbrunner, head of dbi, Allianz’s institutional fund business in Germany, will be appointed head of Europe for Allianz Global Investors (AGI), effective January 1, IPE has learned.
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UK public pension spending to rise by E1.3bn
UK – The UK government projects that public pension spending will rise by 0.9 billion pounds (E1.3 billion euros) – on top of current expenditure – within the next four years.
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IBM in European pension pooling re-think
EUROPE – Computer giant IBM is understood to have had a re-think about pooling its European pension assets because of uncertainty over tax harmonisation.
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Harrigan voted out as CalPERS president
US – Sean Harrigan has been ousted as president of the California Public Employees’ Retirement System, or CalPERS.
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NAPF calls for consolidated pension regulation
UK – The chief executive of the National Association of Pensions Funds has called for the system of government organisations and so-called 'quangos' that regulates pension schemes to be consolidated.
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Refco boosts European institutional sales
EUROPE – Hedge fund firm Refco Alternative Investments has boosted its European hedge fund sales push with the appointment of a senior European sales executive.
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IPE-QUEST: UK pension fund tenders overlay
UK – A UK investment consultant has tendered a currency overlay brief worth 100 million pounds (145 million euros) via IPE-Quest.
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State Street GSS keeps British Airways custody
UK – State Street Corp. says it has retained a 10 billion-pound (14.4 billion-euro) custody mandate from the British Airways Pension Trustees’ pension fund - previously serviced by the Deutsche Bank’s Global Securities Services arm it bought in 2003.
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Martin Currie sees big mandate wins but denies sale rumour
UK - Martin Currie Investment Management has won significant new mandates in its latest financial year but has denied speculation that its latest appointment signifies its planned sale.
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Axa hires Nutbrown for new tactical asset allocation division
Axa Investment Managers has hired Kieron Nutbrown to take the new role of head of tactical asset allocation (TAA) under his old boss, Paul Griffiths.
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European pensions show modest Q3 returns
EUROPE - Two surveys on pension fund results have shown modest positive returns across Europe.
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(Correct) BA pension scheme seeks manager
(Clarifies not a mandate) UK – The British Airways Pension Investment Management Ltd is looking for a new fixed interest manager.
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UK's Pension Protection Fund picks directors
The UK’s safety net for bust pension funds has appointed five non-executive directors, including the chairman of the £17bn Electricity Supply scheme, which has previously been critical of government attempts to help.
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UK broker effectively closes DB scheme (Update)
(Updates, recasts) UK - Brewin Dolphin, a UK stockbrokers and private client portfolio manager, has effectively closed its defined benefit pension fund to new members and those under 55, just as its finance director has reached that milestone.
