All IPE articles in December 2006 (Online) – Page 3
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News
UK schemes now allocate 28% to bonds – regulator
UK – The average asset allocation for pension funds in the UK is 61.1% equities and 28.3% fixed income, according to the new ‘Purple Book’ of pensions data from the regulator and the Pension Protection Fund.
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DNB plans principles-based pensions supervision
NETHERLANDS – Dutch pensions regulator De Nederlandsche Bank (DNB) will ease its supervision on pension funds, banks and insurers in favour of monitoring compliance to principles, rather than strictly regulations.
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New chief executive at Shell Pensions Bureau
NETHERLANDS - Margreet de Nie-Sarink has been named as managing director of Shell Pensions Bureau Netherlands, the organisation has announced.
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BT plugs higher pension deficit with €4.2bn
UK – BT Group is to plug the now £3.4bn deficit at the BT Pension Scheme with a total of £2.8bn (€4.2bn) in payments over 10 years – although payouts are dependent on scheme investment returns.
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Too much choice confusing, says ABP chief
NETHERLANDS - Pension funds should limit the freedom of choice for new collective schemes, otherwise workers will face considerable financial uncertainties, says Dick Sluimers, deputy chair of the executive board at Dutch civil service scheme ABP.
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Dutch govt says indexation text not yet mandatory
NETHERLANDS - Pension funds don’t have yet to use the exact text of the indexation matrix in the communication to their participants, Social Affairs minister Aart Jan de Geus says.
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IPE-QUEST: Multi-manager tenders global equities
EUROPE – A continental European multi-management firm has tendered $100m (€76.4m) in enhanced global equities via IPE-Quest.
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UBS, Aberdeen under review in Waltham revamp
UK – The £430m (€641m) London Borough of Waltham Forest pension fund is completely overhauling its investment strategy in a move from multi-asset to specialist managers.
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Ex-Unilever pensions head Lewin to help DWP
UK – The Department for Work and Pensions has appointed former Unilever UK head of pensions Chris Lewin to help it cut red tape.
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Unilever taps Kottmann for hedge fund advice
UK – Unilever has appointed Kottmann Advisory as external consultant to advise its pension fund on hedge fund-of-fund investments, in a move to launch a pooled investment fund in January.
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Swiss court throws out pension fund lawsuit
SWITZERLAND – A court for the Swiss region of Olten has dismissed a government lawsuit against six people connected with the 1996 collapse of the Vera/Pevos pension fund – the biggest ever in Switzerland.
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MN Services named as Cargill fiduciary manager
NETHERLANDS – The €261m corporate pension fund of Dutch export firm Cargill has appointed MN Services as its fiduciary manager, the company announced today.
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Dutch printing scheme contracts out equities
NETHERLANDS - The pension fund for the printing industry says it will contract out most of its equity portfolio to specialized external managers.
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Schroders buys German real estate manager
GERMANY - Schroders says it has agreed to buy German real estate asset manager Aareal Asset Management GmbH for an initial £18.8m (€28m) from Aareal Bank.
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Aegon eyes European expansion
EUROPE – Dutch insurer Aegon, the second largest in the Netherlands, is looking to expand its private pensions operations to Romania, the Ukraine, Italy and Germany.
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Watson Wyatt dismisses PWC
GLOBAL – Consulting firm Watson Wyatt has replaced PricewaterhouseCoopers with Deloitte & Touche as its principal accountants, according to filing with the Securities and Exchange Commission.
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UK Mineworkers' fund names trustee director
UK – The £10.5bn (€15.6bn) Mineworkers’ Pension Scheme has appointed Vivien Cockerill, pensions partner of law firm Wragge & Co., as a trustee director.
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Lehman Brothers AM gets $35bn inflow
GLOBAL – Lehman Brothers says it had a net inflow of $35bn (€26.5bn) of assets under management in the year ended November 30, up from $26bn a year before.
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Alternatives chief to chair Dexia AM
EUROPE – Dexia has named Naïm Abou-Jaoudé to succeed Hugo Lasat as chairman of the management board of Dexia Asset Management.
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Greater Manchester reappoints Hymans
UK – The £8.5bn (€12.65bn) Greater Manchester Pension Fund has re-appointed consultancy firm Hymans Robertson as actuary and consultant, it was announced today.
