Investor Strategy – Page 215
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Fidelity names pan-Europe bond business head
EUROPE - Fidelity Investments has named Achim Gloger as business development director for pan-Europe in its institutional fixed income team to help as clients move into bonds.
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Deutsche asset strategy queried amid AUM slump
GERMANY – Deutsche Bank’s asset management strategy has come under scrutiny in the wake of disclosures that its institutional fund arm DeAM lost 13 billion euros in assets in the third quarter.
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DaimlerChrysler makes E915m pension contribution
GLOBAL – Car giant DaimlerChrysler says it has cut its liabilities with pension fund contributions of almost a billion euros in the first nine months of the year.
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UK’s protection fund seeks investment head
UK – The Pension Protection Fund has advertised for a director of investment and finance to oversee its assets and resources.
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BNP Paribas picks up Luxemburg SICAV brief
LUXEMBURG - The Luxemburg-based real estate fund for institutional investors, Sireo Immobilienfonds n°4 SICAV, has awarded BNP Paribas Immobilier a 200 million-euro mandate to be invested on the French market.
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New framework may change Dutch funds’ asset mix
NETHERLANDS - The new supervisory framework for Dutch pension funds and insurers may lead to a move out of equities and into bonds, experts have suggested – though the government doesn’t plan to change its bond issuance strategy.
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Danica Pension in E255m shift to equities
DENMARK – Danica Pension, the life insurance and pension arm of Danske Bank which has a large bond portfolio, has made a 1.9 billion-crown (255 million-euro) net investment in equities.
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Germany to deregulate occupational pension funds
GERMANY - The German finance ministry has unveiled a draft law providing for sweeping de-regulation of the country’s two occupational pension funds, known as Pensionskassen and Pensionsfonds.
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ECB warns on accession states’ pensions
EUROPE – The European Central Bank has warned that demographic shift will be more severe in most of 11 non-euro area member states than the European Union average.
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Belgian building fund taps BoNY for transition
BELGIUM - The Belgian industry-wide construction scheme has selected the Bank of New York for global transition management, the bank said.
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Sweden names head of new social security agency
SWEDEN - The government has appointed finance under-secretary Curt Malmborg to head the new social security agency, Försäkringskassan.
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Barr moves to PPM
SWEDEN - Daniel Barr, chief analyst of the seventh Swedish national pension fund Sjunde AP-fonden, AP7, has joined the premium pension authority, PPM, as chief economist.
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SPW taps State Street for fund accounting
NETHERLANDS – The 2.4 billion-euro Dutch housing association scheme Stichting Pensioenfonds voor de Woningcorporaties has expanded its relationship with State Street Corp.
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DeAM takes over E24.7bn Zurich assets
GERMANY - German institutional fund manager Deutsche Asset Management (DeAM) will take over 24.7 billion euros in assets currently held by the German arm of Swiss insurer Zurich beginning next January.
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INTECH set to sign up more European schemes
EUROPE – Janus Capital Group says its INTECH arm, which specialises in mathematically based portfolio investing, is set to sign up new European pension fund clients.
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Pension Commission: reaction broadly positive
UK – The Pension Commission’s interim report was broadly welcomed by the government and industry observers – here is a selection of comments from politicians, industry groups, consultants and unions.
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DeAM consultant head Patel leaves
EUROPE - Deutsche Asset Management has confirmed the departure of Dipak Patel, director of consultant relationships.
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PensionDanmark in funds transferral move
DENMARK – Industry-wide pension fund PensionDanmark is bidding for a share in the new market of funds transferral from the government-backed SP fund to other funds chosen by workers.
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Ex-Belgian pensions minister joins consultant
BELGIUM – Former Belgian pensions minister Freddy Willockx has joined the new full-service consulting firm Akkermans Stroobants & Partners.
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Diageo transfers shares to cut E1.1bn deficit
UK – Drinks firm Diageo has transferred four million shares in US cereal maker General Mills to its UK pension plan to help cut the scheme’s 750 million-pound (1.1 billion-euro) deficit.
