All IPE articles in December 2005 (Online) – Page 5
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News
Fidelity setting up multi-manager business
UK – Fidelity Investments is setting up a multi-manager business that will eventually offer manager of managers services.
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International pensions now mostly DC – Mercer
GLOBAL - Two-thirds of companies with international pension plans now use defined contribution arrangements, according to a survey from Mercer Human Resource Consulting.
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Hewitt names Szelecki as East European head
EUROPE – Hewitt Associates has named Zsolt Szelecki to head its European emerging markets group covering mostly Eastern European countries.
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PGGM may pay pensions in kind
NETHERLANDS - The Dutch health care scheme PGGM is looking into paying pensions partly in kind, its chairman Karel Noordzij has said.
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ABP, PGGM award €11bn private equity mandate
NETHERLANDS – ABP and PGGM, the two largest Dutch pension funds, have awarded a new €11bn private equity mandate to AlpInvest.
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Dutch insurance association CEO to retire
NETHERLANDS - Eric Fisher is take early retirement from his post as chief executive of the Association of Dutch Insurers, VvV, and be succeeded by Richard Weurding.
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IPE-QUEST: Swiss fund tenders small caps
SWITZERLAND – A Swiss pension fund has tendered a pan-European small-cap equities via IPE-Quest.
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German funds react to inflation-linked bond plans
GERMANY – German pension funds have been reflecting on the news that Germany plans to issue its first ever inflation-linked bonds in the near future.
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ABP publishes IORP investment principles
NETHERLANDS - Civil service scheme ABP is the first pension fund in the Netherlands to publish a declaration on its investment principles.
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AXA IM admits “bad days” with State Street
GLOBAL – AXA Investment Managers says it remains committed to its €300bn outsourcing deal with State Street - despite the occasional “bad day” between the two firms.
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EU’s Almunia sees no changes to social model
EUROPE - Joaquín Almunia, the European Commissioner for Economic and Monetary Affairs, says the continent’s social models will not have to be sacrificed to deal with population ageing and globalization.
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Jobs go as British Waterways fund outsources
UK – At least five internal pension administration jobs are on the line as the British Waterways Pension Scheme outsources to Capita Hartshead.
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Hoogovens scheme’s Bronger joins Robeco
NETHERLANDS – Patrick Bronger, senior investment manager at the €5.3bn Hoogovens pension fund, has joined Robeco’s hedge fund department.
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Goldman Sachs AM gets $8bn inflow in quarter
GLOBAL – Goldman Sachs Asset Management had a net asset inflow of $8bn (€6.7bn) in the fourth quarter of 2005 – taking its total inflows in the year to $63bn.
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IPE-QUEST: Nordic bank seeks sub advisor
NORDIC – A Nordic bank has tendered an initial $80m sub- advisory mandate via IPE-Quest.
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PPF levy proposals get mixed reaction
UK – Today’s Pension Protection Fund levy proposals have received a mixed response – ranging from a broad welcome to those who found it “simply unacceptable”.
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FRR tenders €1.5bn private equity in four lots
FRANCE – The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has issued a tender for its first ever private equity programme - €1.5bn in four lots, or just under 6% of its total portfolio.
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OECD flags up scarcity of government bonds
GLOBAL – The Organisation for Economic Cooperation and Development has flagged up the potential scarcity of high-quality long-term government bonds for pension funds.
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PPF likens €848m levy to fund management fees
EUROPE – UK pension funds will have to pay an estimated £575m (€848m) in Pension Protection Fund levies in 2006/7, which the PPF says is similar to the fees schemes pay asset managers.
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Germany’s FERI to expand into Switzerland
GERMANY – FERI Institutional Advisors plans to break into the Swiss institutional market sometime in 2006, according to Arnd Thorn, who took over as FIA’s chief executive last August.
