All IPE articles in December 2005 (Online) – Page 6
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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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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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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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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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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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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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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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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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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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Buck’s investment research head Treich exits
UK – Rob Treich, head of investment research at Buck Consultants, has left to join Mercer Investment Consulting.
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EFRP complains to EU over pension discrimination
EUROPE - The European Federation for Retirement Provision and PricewaterhouseCoopers have lodged complaints with the European Commission against 18 EU member states for infringing the free movement of capital.
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ThyssenKrupp says half of workers switch to DC
GERMANY – Industrial giant ThyssenKrupp says half of its employees have chosen to switch from its traditional company pension scheme into the groupwide defined contribution plan.
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Hermes plans commodity fund for pension schemes
UK - Hermes Pensions Management is planning to launch an index commodity fund exclusively for pension schemes early next year.
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PGGM consortium buys €1bn real estate portfolio
NETHERLANDS – Dutch health care fund PGGM is part of a consortium that is buying retailer Vendex KBB’s real estate portfolio in a sale-and-lease-back agreement.
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European schemes wary of structured products
EUROPE – Three major European pension funds have ruled out the possibility of investing in structured products for now, saying the products are far too complex and lack transparency – with one saying the asset class is a “nightmare”.
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UK nuclear firm BNFL facing pensions strike
UK – Unions have threatened strike action at nuclear power stations across the UK at the start of next year, due to a failure by British Nuclear Fuels (BNFL) to consult with or inform members on pension scheme changes.
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UK trustees say they lack understanding
UK – Less than a third of UK pension scheme trustees consider they have a very good understanding of investment principles.
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World Bank scheme CIO: structures are key
GLOBAL – While the focus on alternative asset classes is warranted, pension funds need the right in-house structures before they can fully reap the rewards, according to the World Bank Pension Plan’s chief investment officer Sindo Oliveros.
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TNO's van Ballegooijen to retire next month
NETHERLANDS: Joop Ruijgrok has been appointed director of the pension fund of technical research institute TNO, the scheme has announced.
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IPE Awards report: OECD, AP7
EUROPE – Senior officials from the Organisation for Economic Cooperation and Development and the Seventh Swedish Pension Fund AP7 have outlined some of their latest thinking at the annual IPE Awards in Berlin today.
