Investor Strategy – Page 184
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Dutch government turmoil could hit FTK
NETHERLANDS – The collapse of the Dutch centre-right government last night could delay the implementation of the new Financial Assessment Framework, or FTK, pension experts have warned.
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Mercer partner Cowling quits to join JLT arm
UK – Charles Cowling, long-term worldwide partner at Mercer Human Resources Consulting, has quit to join pensions advisory outfit Pension Capital Strategies (PCS) as managing director.
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Commerzbank creates CTA for pension liabilities
GERMANY – Commerzbank has established a contractual trust arrangement (CTA) to fund its pension liabilities, thereby removing them from its balance sheet.
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CalPERS JV to target Spanish holiday homes
REAL ESTATE - The California Public Employees' Retirement System (CalPERS) is to invest in Mediterranean holiday homes via a €231m fund set up with private US developer Hines.
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AP2 appoints new CIO and strategist
SWEDEN - Andra AP-fonden, the roughly SEK190.6bn (€20.5bn) Second Swedish National Pension Fund (AP2) today appointed a new chief investment officer and chief investment strategist (updated).
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Netherlands to force funds to disclose voting
NETHERLANDS - Dutch Finance Minister Gerrit Zalm wants to force pension funds, insurers and banks to disclose the way they vote at company annual general meetings.
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Watson Wyatt hires Aon’s Hoile
UK - David Hoile, head of Aon Consulting’s UK investment research division, has quit to join Watson Wyatt Investment Consulting’s asset research team.
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Merrill launches swap indices for pension funds
GLOBAL - Merrill Lynch has launched a new swap index series to help cater for the trend towards liability-driven investing by pension funds.
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IPE-QUEST: Dutch fund tenders fiduciary
NETHERLANDS – Consulting firm Avida International is looking for fiduciary managers for a multibillion-euro Dutch pension fund client via IPE-Quest.
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Austria’s ÖPAG to increase DC benefits
AUSTRIA – ÖPAG, one of Austria’s multi-employer pension funds, says that following a good performance in 2005, it will increase pension benefits for members in its defined contribution plan by between 0.5% and 2.5%.
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London pension fund to review arms investing
UK – The roughly £3.3bn (€4.8bn) London Pension Fund Authority will review its investment in arms manufacturing companies at a public board meeting next week.
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PPM tenders fund rating services
SWEDEN - Sweden’s Premium Pension Authority, PPM, says it intends to purchase fund rating services.
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Lane Clark parent gets private equity approach
UK – Alexander Forbes, the South African-based parent company of UK actuaries Lane Clark & Peacock, is in talks with private equity investors about a sale of the entire group.
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BIG forms private equity joint venture
IRELAND – Financial services outfit Bank of Ireland Group (BIG) has formed a joint venture with US private equity specialist Paul Capital Partners to provide private equity fund of funds products and advisory services to institutional and other investors worldwide.
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CalPERS names asset allocation consultants
GLOBAL – The California Public Employees’ Retirement System (CalPERS), the $210bn (€163.8bn) public pensions giant, has “tentatively” selected contractors for asset allocation consulting, securities lending services and administration of supplemental savings programmes.
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EFRP celebrates 25th anniversary
EUROPE – The European Federation for Retirement Provision (EFRP), which represents occupational pension plans in the EU and candidate states, is today celebrating its 25th anniversary in Brussels.
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PPF to appoint specialist fund managers
UK – The Pension Protection Fund will appoint specialist fund managers from next year, according to its new three- year strategic plan.
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Former FIM Group chief executive faces jail
FINLAND – The former chief executive of Finnish broking and asset management group FIM, Seppo Sairanen, has been sentenced to jail by the District Court of Helsinki for alleged fraud.
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Fortis names global LDI head
NETHERLANDS – Fortis Investments has appointed Alexander Van Aken to the new position as global head of liability driven investment.
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UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
