All IPE articles in December 2005 (Online) – Page 2
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UK calls for national pension scheme proposals
UK – UK pensions minister Stephen Timms today challenged the industry to come up with an alternative model to the National Pensions Saving Scheme outlined in last week’s Turner Report.
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PGGM to lower contributions
NETHERLANDS - Instead of the initially announced rise to 18.2%, health care scheme PGGM will lower its contributions for 2006 by 0.05% to 16.15%, it said.
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MSIM hires ex-GSAM European equities co-CIO
EUROPE - Hywel George, former co-chief investment officer of European equities at Goldman Sachs Asset Management, has joined rival Morgan Stanley Investment Management.
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KarstadtQuelle denies pension trust report
GERMANY – KarstadtQuelle, Germany’s second-biggest retailer, has denied that it is tapping its own contractual trust arrangement (CTA) for €200m in capital to reduce long-term debt.
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30 Hermes staff to transfer to Bank of NY
UK - Around 30 of Hermes Pensions Management's 300 staff are to transfer to the Bank of New York in an outsourcing deal involving more than £50bn (€73.9bn) in assets.
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EU sees common pensions and market regulation
EUROPE – The European Commission says the European pensions, banking and securities regulatory committees will deliver “common decision-making and enforcement” within five years.
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Dutch VB names new deputy head
NETHERLANDS - Leny van der Heiden has been appointed as the new deputy director and policy manager of the Dutch Association of Industry-wide Pension Funds, or VB.
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KPN reaches new pension agreement
NETHERLANDS -- Telecoms giant KPN has reached a new two-year collective labour agreement (CAO) with Dutch trade union ABVAKABO FNV under which in addition to a structural salary increase of 1.5% from January 2006 and 1.5% from January 2007, KPN has agreed to pay 2% of a salary into the ...
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Loss of key people impacts Norway’s Petrol Fund
AMSTERDAM – The loss of key people is the main reason why fund managers are fired by the Norwegian Petroleum Fund, according to its chief executive Knut Kjær.
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Mn's strategy head leaves for Unilever
NETHERLANDS – Mn Services’ director of strategy and development Martin Sanders will leave at the start of next year to become chief investment officer of Unilever pension fund.
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Metzler posts 28% rise in institutional assets
GERMANY – A mix of mandates for institutional funds and one for a so-called ‘master fund’ has enabled Metzler Asset Management to lift its institutional assets to above €20bn – an increase of 28% from the end of 2004.
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USS names JP Morgan’s Holmes to board
UK – The £25bn (€37bn) Universities Superannuation Scheme (USS) has appointed Virginia Holmes as co-opted director and investment committee chair.
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PIMCO boosts its Swiss team
SWITZERLAND – Specialist fixed-income manager PIMCO has appointed Joachim Suter to the position of Swiss head of institutional business development.
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‘Fully funded’ may not mean that, says Maher
EUROPE - The European pensions directive’s requirement that IORPs be “fully funded” does not mean exactly that, Irish pensions regulator Anne Maher told the IPE Multipensions Conference in Amsterdam.
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Levensloop for self-employed reconsidered
NETHERLANDS – Dutch Social Affairs minister Aart Jan de Geus is again to look at the possibilities of creating a ‘levensloop’, or life course, scheme for the self-employed.
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ABP opts for ORTEC performance system
NETHERLANDS - Stichting Pensioenfonds ABP, the Dutch civil service scheme, has chosen Pearl, ORTEC's performance and risk management system.
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Shier to chair Groupe Consultatif pensions group
EUROPE – Hewitt’s Philip Shier has taken over as chairman of the Groupe Consultatif Actuariel Européen’s Pensions Committee from Watson Wyatt’s Paul Thornton.
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MEAG targets third-party growth
GERMANY – MEAG, the asset management arm of reinsurance giant Munich Re, plans to expand its third-party business by between 25-30% annually, according to Robert Helm, managing director at MEAG responsible for third-party business.
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ATP named best European pension fund 2005
EUROPE – Denmark´s ATP has been named overall Best European Pension Fund in 2005 at the annual IPE Awards in Berlin. It was also named Best European Public Pension Fund as well as scooping the top award for Denmark and risk management.
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Swiss official backs individual pension accounts
SWITZERLAND – The chief economist of the Swiss central bank has backed the idea of individual pension accounts – saying they could boost labour mobility and “work effort”.
