Investor Strategy – Page 189
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German MPs call for civil service pension fund
GERMANY – The budget committee of Germany’s parliament (Bundestag) has urged the government to create a pension fund for federal civil servants instead of, as now, financing their pensions via tax reserves.
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Switzerland’s APK outlines switch to DC
SWITZERLAND – Aargauische Pensionskasse (APK), a CHF4.9bn (€3.1bn) pension fund for Swiss civil servants, plans to fully fund its liabilities by January 1 2008 following several reforms – notably a switch to defined contribution from defined benefit.
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Pension funds buy into Clariant bond issue
SWITZERLAND – A significant amount of pension fund money went into Swiss chemical firm Clariant’s new UK-listed seven-year €600m Eurobond.
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Munich Re’s MEAG rolls out new funds
GERMANY – MEAG, the asset management arm of German re-insurance giant Munich Re, has confirmed the rollout of four new “i-shares” - mutual funds targeted exclusively at institutional investors.
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Pensions conference glut claims first victim
EUROPE – An unusual convergence of pensions and investment industry conferences on Tuesday April 25 has claimed its first victim: Credit Suisse.
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Cordares sets up pension product for new union
NETHERLANDS – Cordares is to create a new individual and ‘user-friendly’ pension planning product for the new union for Dutch self-employed people.
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Institutions pull €3bn from Robeco
NETHERLANDS – Robeco, the asset management arm of Dutch bank Rabobank, had a €3bn outflow of institutional assets in 2005.
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ABP setting 2007 investment plan
NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is currently in the process of establishing its new strategic investment plan to run from 2007 to 2009.
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Schemes may shift to shorter-dated bonds - UBS
GLOBAL – UBS reckons one effect of demographic ageing may be that pension funds will move into bonds – and at shorter maturities - as members get older.
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Icelandic funds still eye foreign investment
ICELAND – Icelandic pension funds still have a lot of scope for investing outside the country, says the central bank.
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Waygood to chair UK Social Investment Forum
UK – Steve Waygood, director for investor responsibility at Insight Investment, has been appointed chairman of the UK Social Investment Forum, which promotes SRI among UK investors.
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Norgrove rejects pension-bond yield ‘bubble’
UK – David Norgrove, the chairman of the Pensions Regulator, has rejected the idea that there is a bubble in gilts caused by pension fund demand.
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Icelandic schemes not fazed by market 'blip'
ICELAND – Pension funds in Iceland have shrugged off the turbulence affecting domestic financial markets, with one industry commentator calling the situation a “blip on the screen”.
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ABN Amro AM considers “bolt-on” acquisitions
GLOBAL – ABN Amro says it will consider “bolt-on” asset management acquisitions.
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UN scheme looks to hire chief risk officer
GLOBAL – The in-house investment management firm of the $32bn (€26.5bn) United Nations Joint Staff Pension Fund (UNJSPF) is looking to appoint a chief risk officer, and a senior investment officer to its alternative investment portfolio.
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DekaBank sets up €222m pension CTA
GERMANY – DekaBank, the asset management arm of Germany’s state-owned savings banks (Sparkassen), has set up a contractual trust arrangement (CTA) for €222m in pension liabilities.
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Ex-AP2 investment chief explains resignation
SWEDEN – Petter Odhnoff has given IPE an account of the events leading up to his decision to quit yesterday as chief investment officer of the SEK190.6bn (€20.5bn) AP2 fund.
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PGGM names investments operating chief
NETHERLANDS – PGGM, the €70bn Dutch healthcare and social work pension fund, has named Marc van den Berg as chief operating officer of investments as of May 1.
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IPe-symposium: Industriens eyes EM private equity
DENMARK – Industriens Pension, €5bn Danish scheme, says it might look at entering the emerging market private equity arena.
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Bank of NY launches Poland fund firm
POLAND – The Bank of New York has launched an investment fund company in Poland to tap pension fund demand.
