Investor Strategy – Page 201
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News
Consultants’ insurance dilemma highlighted
US – The recent case bought against a consultant-owned insurer in the US has highlighted the increasing problems firms face in securing insurance coverage.
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Man Investments CEO Chambers quits
UK - Man Investments’ chief executive Chris Chambers is stepping down at the end of the month after three and a half years at the alternative investments firm.
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Irish postal scheme in €1.6bn revamp
IRELAND – The €1.6bn pension scheme of the Irish postal service An Post has restructured its manager roster with the help of consulting firm Mercer.
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Achmea, Interpolis get OK for merger
NETHERLANDS – The Dutch competition authority has approved the previously announced merger between pension management firms Interpolis and Achmea.
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AP2, Alecta execs join Handelsbanken committee
SWEDEN – Representatives from Swedish pension bodies AP2 and Alecta have been appointed to a board election committee at banking group Handelsbanken.
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‘No reason to celebrate’ for Swiss funds
SWITZERLAND – Despite a more than 6% return in the first half, Swiss pension funds have no reason to celebrate due to low bond yields, says the Swiss pension fund association ASIP.
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Norway’s Kvaerner embroiled in UK pension row
UK – Norwegian industrial holding group Kvaerner ASA has become embroiled in a row over its relationship to the Kvaerner Pension Fund (KPF), the UK pension plan of the former Trafalgar House.
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News
Netherlands’ Bouwend awards admin to NN
NETHERLANDS - Construction sector organisation Bouwend Nederland has awarded a pension administration contract to ING Group’s Nationale Nederlanden.
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Achmea looking to boost profits ahead of merger
NETHERLANDS – Pension common management firm Achmea is undergoing a “commercial vitality project” ahead of its merger with Interpolis.
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GSAM says it wins €785m from local authorities
UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.
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News
Greek pension strikers clash with police
GREECE – Greek bank workers have clashed with police during a strike about pensions, according to a union official.
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News
Dutch experts at odds over average premiums
NETHERLANDS - Abandoning the average pension premiums will threaten rather than improve the Dutch pensions system, says the director of the Association of Industry-wide Pension Funds, or VB.
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News
Reuters awards custody to Bank of NY in revamp
UK - The £650m (€953m) Reuters Pension Fund, the main UK scheme of the news and data group, has awarded a custody mandate to the Bank of New York after a revamp.
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News
Florida awards $113bn master custody to Mellon
US – Florida’s State Board of Administration has awarded a $113bn (€91.7bn) master custody mandate to Mellon Global Securities Services.
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News
UK coal scheme gets new secretary
UK – The £9.6bn (€13.8bn) British Coal Staff Superannuation Scheme has named Dawn Shirley as its new scheme secretary, replacing John Haigh.
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News
Low rates hit German industry schemes
GERMANY - German industry schemes known as Versorgungswerke have reported a slight decline in the annual return on their investments owing to low interest-rates.
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News
ING IM plans European multi-manager launch
EUROPE - ING Investment Management is pushing forward with the launch of its multi-manager programme in Europe, scheduled for later this year.
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News
UPM-Kymmene UK taps Hymans for consultancy
UK – The £84m (€122m) pension scheme of UPM-Kymmene UK has appointed Hymans Robertson as investment consultant.
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News
Mercer facing SEC investigation over Putnam links
GLOBAL – Marsh & McLennan is being probed by the Securities and Exchange Commission about business referrals between its Mercer consulting arm and Putnam Investments asset management unit.
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News
Bayer gains €200m from shift to DC in the US
GERMANY – Industrial giant Bayer expects to gain a one-time bonus of €200m in the third quarter, mostly as a result of changes to its US pension plan.
