All IPE articles in December 2006 (Online) – Page 7
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News
ECB sees pension funds’ role increasing
EUROPE – The European Central Bank says pension funds’ role within financial markets will increase due to the increasing size of retirement assets.
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Giant Dutch-style Norwegian pension fund proposed
NORWAY – A giant Norwegian pension fund along Dutch lines, encompassing the Government Pension Fund as well as cash from the sale of the state’s stakes in large companies and privatisations, has been proposed by an official at Norges Bank.
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Societe Generale under review at Kent CC
UK – The £2.4bn (€3.6bn) Kent County Council Superannuation Scheme is tendering a £350m UK equities mandate currently held by Societe Generale Asset Management.
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North Yorkshire tenders for financial advisor
UK – The £1.2bn (€1.8bn) North Yorkshire County Council pension fund is looking for an independent financial advisor as current advisor Philip Williams’ contract is running out.
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Barings wins €126m Mitsui Babcock brief
UK – The energy company Mitsui Babcock Ltd. has awarded Baring Asset Management an £86m (€126m) segregated multi-asset diversified growth mandate.
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Dutch VB hails merits of collective schemes
NETHERLANDS – Collective pension funds are cheaper and deliver larger benefits than commercial pensions, according to a report by the VB, the Dutch Association of Industry-wide Pension Funds.
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BNP Paribas AM names new German head
GERMANY – The German arm of BNP Paribas Asset Management has named Ilona Wachter as its new institutional business head, effective from last December 1.
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Lane Clark launches corporate, trustee practices
UK - Lane Clark & Peacock has launched two specialist investment consulting practices.
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Allianz unveils pan-European pension product
EUROPE – The German insurance company Allianz has revealed details of its pan-European pension product “European CompPension”.
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EU pension “maze” costs jobs – Aegon study
NETHERLANDS - The complexity of Europe's diverse national pension systems is driving up costs for multinationals, according to a survey by Aegon.
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3,900 jobs go as BoNY, Mellon merge (Update)
GLOBAL - The Bank of New York and Mellon Financial Corp. have announced a definitive agreement to merge into a new entity to be called the Bank of New York Mellon Corp (Updates with reaction comment).
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ATP pre-selects Citigroup, Northern for €46bn
DENMARK – The DKK371.5bn (€49.6bn) Danish labour market pension fund ATP has pre-selected Citigroup and Northern Trust as candidates for a new global custody agreement.
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Newham fund diverts into infrastructure
REAL ESTATE - The London Borough of Newham pension fund is to invest £30m (€45m) in infrastructure. The investment, which follows a strategic review and is the fund’s first in infrastructure, reflects a desire to influence the beta aspects of the fund and the search for a guaranteed long-term return.
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Chelsea & Kensington invest in private equity
UK – The £379m (€561m) Royal Borough of Kensington and Chelsea pension fund has started investments into private equity.
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Shropshire fund moves out of UK property
REAL ESTATE - Shropshire County Council pension fund is seeking an investment manager for a £43m (€63.7m) pan-European real estate portfolio.
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Dumfries fund tenders global equities, FX
UK – The £400m (€594.52m) Dumfries & Galloway Council Pension Fund is looking to put its global equity portfolio into active management again, after axeing Deutsche Asset Management.
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BHF’s Frankfurt-Trust names new institutional chief
GERMANY – Frankfurt-Trust, the asset manager of private bank BHF-Bank, has named Gerhard Engler as its new managing director for institutional funds and corporate pension solutions. The appointment is effective from January 1.
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Mercer to review Irish Social Insurance Fund
IRELAND – Mercer Human Resource Consulting has won a €165,000 contract to conduct and actuarial review of Ireland’s Social Insurance Fund for the Department of Social and Family Affairs.
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Curb pension funds’ hedge investment – Riksbank
SWEDEN – The Swedish central bank has suggested that pension funds’ hedge fund investments should be limited to protect pension savers’ investments.
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CSAM names new Germany head
GERMANY - Credit Suisse has named BNP Paribas’ Axel Grosskreutz as the new head of Asset Management in Germany as of January 2.
