Investor Strategy – Page 214
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News
Benkner named head of DeAM in Europe
EUROPE - Deutsche Bank is to relocate Deutsche Asset Management’s headquarters to Frankfurt from London amid a revamp that has seen Paul Manduca replaced by Axel Benkner as DeAM’s European chief executive.
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UK debt office consults on long-dated bonds
UK – The UK’s Debt Management Office has launched a consultation on ultra-long dated government bonds following talks with the pension industry this summer.
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Goldbrunner to head Allianz’s AGI in Europe
EUROPE - Johann Goldbrunner, head of dbi, Allianz’s institutional fund business in Germany, will be appointed head of Europe for Allianz Global Investors (AGI), effective January 1, IPE has learned.
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Axa hires Nutbrown for new tactical asset allocation division
Axa Investment Managers has hired Kieron Nutbrown to take the new role of head of tactical asset allocation (TAA) under his old boss, Paul Griffiths.
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Martin Currie sees big mandate wins but denies sale rumour
UK - Martin Currie Investment Management has won significant new mandates in its latest financial year but has denied speculation that its latest appointment signifies its planned sale.
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CalPERS president in open war
US - A public spat has broken out at CalPERS, the world’s largest pension fund, as the president, Sean Harrigan, claimed he was to be ousted by political and corporate interests.
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IPE Seminar: Risk, Costs and Interest Rates
EUROPE – Top European pension executives have told the IPE Awards seminar in Zurich today that cost cutting, inflation and attitude to risk are among the most significant challenges for the future of the industry.
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IMF adds voice to chorus wanting Europe to increase retirement age
EUROPE - The International Monetary Fund has added its voice to the growing number of calls for Europe to urgently raise its retirement age.
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Dutch employers group warns over pre-pensions
NETHERLANDS – Plans to repair pre-pension in the Netherlands could lead to a ‘pension catastrophe’ a leading employers’ association has warned.
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New Italian institutional fund launched
ITALY - Italian asset manager Arca SGR has launched a mutual fund to meet the needs of institutional investors called Anfiteatro – MultiInvestmentFund.
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Germany: Activest to cut 10% of fund managers
GERMANY - Activest, Germany’s fifth-largest provider of institutional funds, has confirmed plans to let go around 10% of the 80 fund managers it employs for both mutual and institutional funds.
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Three top executives leave Dutch doctors scheme
NETHERLANDS – The 10.5 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) in the Netherlands has lost three senior executives over the course of three months, it has emerged.
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Hazell Carr’s Donaldson joins Higham Group
UK – Pensions outsourcing firm Higham Group has hired Kenneth Donaldson from Hazell Carr Pensions Consulting to be director of business development, pensions.
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Sweden sees surge in pension spending
SWEDEN – The Swedish Ministry of Finance says pension expenditure will rise to more than 10% of gross domestic product in the next 30 years.
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Italian railway scheme selects first managers
ITALY - Eurofer, the 104 million-euro pension fund for railway workers, has selected its first asset managers.
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DeAM set for sweeping revamp - report
GERMANY - Kevin Parker, the new head of Deutsche Bank’s asset management activities, is to unveil a sweeping restructuring, placing a particular emphasis on embattled Deutsche Asset Management in the UK, a German newspaper has reported.
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F&C says poised to decide on outsourcing
EUROPE – The merged F&C-ISIS is poised to issue an announcement tomorrow about the outsourcing deals the combined group has with J P Morgan and Mellon.
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Average UK pension pay is £79,000 – report
UK – Professionals in the UK pensions industry earn an average 79,000 pounds (112,800 euros) a year, according to a report by Greenwich Associates.
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Czech pension fund clients rise to 2.86m
CZECH REPUBLIC - The number of privately insured Czechs rose to 2.86 million as of September 2004 from 2.74 million in December 2003, the Finance Ministry has said.
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DeAM, Schroders lose out at Avon Cosmetics
UK - Deutsche Asset Management and Schroder Investment Management have lost out with the 102 million-pound (146.5 million-euro) pension scheme of Avon Cosmetics switching from a balanced to specialist strategy.
