Investor Strategy – Page 197
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Achmea taps F&C for shareholder engagement
NETHERLANDS - Eureko's Achmea has signed up for F&C's Asset Management's shareholder engagement programme for €1.5bn in assets under management.
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Bond switch could cut UK profits – consultant
UK – A wholesale shift by pension funds away from equities to bonds prompted by liability-driven investing could cut UK corporate profits by billions of pounds, according to consulting firm Pension Advisor Review.
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Switzerland’s AVS may reduce US debt exposure
SWITZERLAND – The €15bn Swiss Federal Social Security Fund AVS is looking at investing in euro-denominated bonds following a possible cut-back in its investment in US bonds and dollar-denominated debt.
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Nestlé seeks pensions risk manager
UK – Nestlé is looking for a risk manager with experience in hedge funds to offer services, including the management of assets and liabilities, to its pension funds.
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ING’s Central Europe pension assets surge
EUROPE – Dutch banking group ING’s pension fund assets in Central Europe have risen by more than 32% to almost €7bn.
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Belgium to submit IORP law in January
BELGIUM - Belgian financial supervisors will present the final version of a new law for implementing the EU directive on occupational pensions in the first week of January.
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BGI looking for equity CIO as Annable exits
GLOBAL – Matthew Annable, European chief investment officer for active equities at Barclays Global Investors, is to leave next year in a “lifestyle change” – but his successor has not yet been chosen.
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€24bn UN pension fund ‘reviewing strategy’
GLOBAL – The $29bn (€24.7bn) United Nations pension fund may be reviewing its investment strategy to bring it more in line with the body’s humanitarian-based mission and objectives.
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Fortis Investments names Poland sales head
POLAND – Fortis Investments has named Grzegorz Swietlik as its new head of sales for Poland.
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Watson Wyatt earnings slip on acquisition costs
GLOBAL – Consulting firm Watson Wyatt & Co. has reported lower quarterly earnings – hit in part by a loss related to its acquisition of its European affiliate.
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Dutch actuaries respond to conflict fears
NETHERLANDS - The Dutch Actuarial Society, or AG, is to introduce a uniform statement for the assessment of the financial position of pension funds and insurers, it said.
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JPMorgan AM names new institutional head
EUROPE – JPMorgan Asset Management (JPMAM) has named Jens Schmitt as head of institutional business in Europe, replacing Peter Schwicht.
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Turkish fund wins national steelmaker tender
TURKEY - Turkish armed forces pension fund OYAK made the highest bid for a 46.12% stake in the country's biggest steel company, Erdemir.
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Winter appointed to AFM board
NETHERLANDS - Dutch finance minister Gerrit Zalm has appointed Jaap Winter to the supervisory board of the Financial Markets Authority (AFM).
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BHW Invest sold to Postbank
GERMANY - BHW Invest, a German institutional fund administrator, has confirmed that it is now partially owned by retail banking giant Postbank.
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Irish fund servicing industry closes on $1trn
IRELAND – Irish-serviced funds grew 23% over the past year, topping $950bn (€785bn) as at 30 June 2005, according to Lipper Fitzrovia’s 11th annual Dublin Fund Encyclopedia.
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UBS institutional invested assets surge 24%
GLOBAL – UBS’ third-quarter results reported an annual 24% surge in institutional invested assets under global asset management to CHF425bn (€290.9bn).
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F&C ends outsourcing project with Mellon
UK – London-based F&C Asset Management has discontinued its project to outsource the former ISIS Asset Management operational functions to Mellon Financial Services. This followed a failure to agree “satisfactory contractual terms”, a statement said.
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Hermes chooses Ortec ALM system
NETHERLANDS -- Hermes Investment Management has chosen consultancy and software developer Ortec as supplier of its asset liability management system, the Dutch company has announced.
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Dutch schemes face €105bn shortfall – Watson
NETHERLANDS - Dutch pension funds are facing a combined shortfall of €105bn - taking into account full indexation for future inflation and salary rises – says Watson Wyatt Netherlands.
