All Features articles – Page 435
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Features
Giant step into a new world
Last year, PGGM, the Netherlands’ second largest pension fund, took the revolutionary decision to invest in the commodities markets with a commitment of between 3% and 5% of its total portfolio value of about e50bn. This was no sudden move, but came after an extensive asset and liability management (ALM) ...
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Features
Teachers' pet
The dual investment management strategy, a low-cost philosophy, devotion to customers’ needs: these are the three pillars of TIAA-CREF (Teachers Insurance and Annuity Association-College Retirement Equities Fund), the premier pension system for people in education and research. As of June 2000 (according to the semiannual report), TIAA-CREF had $298.9bn (e320bn) ...
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Features
In search of the ultimate solution
The search for quality administrative solutions (systems and providers) continues across Europe. Whether it is for domestic and offshore mutual fund transfer agency services, or for the growing need to provide defined contribution recordkeeping capabilities, the fact is that there are few options. Moreover, what makes the issue even more ...
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Features
Citibank records record results in 2000
Like many custodians last year, Citibank’s worldwide securities services had a bumper year. With revenue growth up by 30% and profitability even more so, the group recorded its most successful year to date. So unsurprisingly, Robert Binney, managing director of the worldwide securities services division, is pleased: “We’ve seen a ...
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Features
PPSEVs replace l’Epargne Retraite
Last August, the French government approved proposals to introduce a law allowing employees to subscribe to new voluntary tax-favoured savings plans to be known as ‘plans partenariaux d’épargne salariale’ (PPESVs). Contributions will be made by both employers and employees and the plans will have a duration of 10 years, at ...
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Features
Central European about turn
Private equity investment in central and eastern Europe recovered last year after the prolonged hiatus caused by Russia’s financial collapse in August 1998. According to Kurt Geiger, head of financial institutions at European Bank for Reconstruction and Development (EBRD), between December 1998 and September 1999 the bank was unable to ...
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Features
Increasing role ahead for outside pension director
The role of professional pension scheme directors is likely to increase in future. There are four main reasons for believing this: q Changing regulation of pension funds Regulation of pension funds has become more onerous for pension fund directors over time almost everywhere. They find themselves with more work and ...
