Investor Strategy – Page 183
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GSAM to get a third of PPF levy funds
UK – The Pension Protection Fund, the government’s pensions lifeboat, will assign roughly a third of its £140m (€205m) in initial levy funds to Goldman Sachs Asset Management, according to the PPF’s Business Plan 2006/2007.
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Kosovo fund names two asset managers
KOSOVO – The Kosovo Pensions Savings Trust (KPST) has appointed Schroders and ECM as fixed income managers.
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Lincolnshire scheme silent on BETonSPORTS
GLOBAL – At least one UK pension fund - Lincolnshire - may have lost out in the decline in share prices of online gaming companies following the detention of BETonSPORTS chief executive David Carruthers.
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Maher steps down as Pensions Board CEO
IRELAND – Anne Maher is due to step down resign as chief executive of Irish pensions regulator the Pensions Board after 10 years in the role.
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UK national ‘multi-manager’ pension scheme seen
UK – The proposed National Pensions Savings Scheme could in effect be a giant ‘multi-manager’ fund, the Investment Management Association says.
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DB schemes amplify market volatility – BOE study
UK – Defined benefit pension funds amplify shocks to companies’ shares and affect stock market volatility, according to a Bank of England study.
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Dutch insurance premiums dwarf pension premiums
NETHERLANDS - Premiums paid to Dutch insurance companies were three times as high as premiums paid to Dutch pension funds at the beginning of 2006 (Corrects figures in 2nd paragraph).
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EU schemes to reclaim dividend tax
EUROPE/NETHERLANDS - Pension funds based in other EU member states will also be allowed to reclaim dividend tax, the Dutch Treasury has announced.
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EFAMA urges EC to remove regulatory barriers
EUROPE – EFAMA, the European Fund and Asset Management Association, has called on the European Commission to remove legal and regulatory barriers of the UCITS Directive.
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German government approves new civil service scheme
GERMANY – The government has approved a draft law paving the way for the creation of a pension fund for federal civil servants hired after January 1, 2007.
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CAAM names marketing boss
FRANCE - Credit Agricole Asset Management (CAAM) has promoted current head of client servicing Philippe Zaouati to head of marketing.
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Skandia’s Macleod to head €36bn division
UK – Jamie Macleod, chief executive of Skandia Investment Management (SIML), is to head Skandia UK’s new asset management division – a consolidation of its investment, fund group and life arms.
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Dutch governors and board member registers merge
NETHERLANDS - The National Register of Governors and Supervisors (NR) and the Register for Board Members of Pension Funds (RBP) will merge this year, both organisations have announced.
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Perry goes to ITS, Lancaster to MPC and Elliott to Aon
UK – The former pensions head at the House of Commons, Carol Perry has been appointed as one of six directors at Independent Trustee Services.
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EU fund industry ‘outdated’
EUROPE – The EU fund industry is not correctly equipped to respond to the challenges of strong competition for investor savings and a rapidly evolving demand for investment products, according to a report to the European Commission.
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Credit Agricole makes three senior AM appointments
EUROPE - Credit Agricole Asset Management has appointed three senior executives, including an equity investment chief and strategy head, in a bid to strengthen its Paris-London-Milan links.
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HDI’s Stoeckl moves to UNED
GERMANY – UNED AG, a specialist in developing financial products for insurers, banks and fund companies, has recruited Michaela Stoeckl from corporate pensions adviser HDI Pensionsmanagement.
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Pension funds could buy 20% government stake in Schiphol
NETHERLANDS – Government is planning to sell close to a third of its stake in Schiphol airport to institutional investors, according to Dutch finance minister Gerrit Zalm.
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AP2 in €469m fundamental index shift
SWEDEN - Andra AP-fonden, the roughly SEK190.6bn (€20.5bn) Second Swedish National Pension Fund (AP2) today announced it has allocated 15% of its US equity portfolio to fundamental indexation.
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DeAM names Roemer institutional chief
GERMANY – Peter Roemer has left Crédit Suisse Asset Management to join Deutsche Asset Management as its new head of European institutional business with immediate effect.
