Investor Strategy – Page 220
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Railpen names Johnson as finance director
UK - The 14 billion-pound (20.8 billion-euro) Railways Pension Trustee Co. has appointed Frank Johnson as finance director following the retirement of Malcolm Gray.
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UK coal scheme aligns with BTPS on governance
UK – The 10 billion-pound (14.9 billion-euro) British Coal Staff Superannuation Scheme has aligned with the BT Pension Scheme on governance issues, with an outsourcing deal with Hermes.
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France’s FRR awards transition management brief
FRANCE – The French reserve fund, the Fonds de réserve pour les retraites, has awarded a transition management mandate to Goldman Sachs International for three years.
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BIS sees “disruptive” cuts in pensions benefits
GLOBAL – The Bank for International Settlements has raised the spectre of potentially “disruptive” cuts in retirement benefits in the industrialised world.
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PGGM gives Aegon its largest-ever win with €1bn
NETHERLANDS – The €55bn PGGM pension fund has given Aegon The Netherlands a €1bn mandate for European government bonds, its largest-ever win and a sign of a change within the investment management style of large pension funds.
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Finatem picks up Hennings and deal flow from DZ
Germany- German mid-market private equity firm Finatem has appointed Robert Hennigs as partner and managing director of the firm’s second portfolio, which has recently has its first closing with commitments of €74m.
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Gyllenhammer calls for portable pensions in Europe
EUROPE - Pehr Gyllenhammer, the chairman of the European Financial Services Round Table (EFR) of leading product providers and Aviva, has said pensions is one of the three the“ key areas” on which the European Commission should concentrate to bring about a single market.
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Epic hires Hermes' White
UK – Epic Investment Consulting, a pension fund trustee advisory company, has made snapped up Adrian White from Hermes and John Siska for its panel and asked the regulator to crack down on unauthorised independent advisers.
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'Excessively generous' pensions stalls Dutch PVK/DNB merger
NETHERLANDS – Parliament has delayed the proposed merger of Dutch central bank (DNB) and the pensions supervisory board (PVK) pension funds after its scrutiny uncovered “excessively generous” deals for the boards’ members as the regulator was cracking down on other funds’ costs.
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CalPERS earns $98.4m (€81.2m) from stock lending
US – CalPERS has earned $98.4m (€81.2m) from lending out about two-thirds of its securities in one year and is moving further into enhanced index strategies and away from index funds and active managers.
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RBoS puts St David's trust into admin receivership
UK – Royal Bank of Scotland has put the St David’s Investment Trust into administrative receivership after minority shareholders objected to the restructuring proposal.
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Insight makes third structured products hire
UK- Insight Investment Management, the asset management arm of HBOS, has hired Takis Antastassopoulous from consultancy Quant Technology as senior portfolio manager on structured products and index funds.
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GES allows Nestle and Nomura into the ethical fold
SWEDEN – GES Investment Services, a Sweden-based socially responsible investments consultancy with clients managing €60bn of assets, has revised its exclusion list following improvements at Nestlé and Nomura but barred three other companies.
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IPE-QUEST: Institution tenders more than E331m
EUROPE - An institutional investor with offices in continental Europe has tendered more than 400 million dollars (331 million euros) in four equities briefs via IPE-Quest.
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Aviva cuts 700 life business jobs
UK – Aviva’s Norwich Union arm is to cut 700 jobs in its life business services division in a bid to cut costs and improve flexibility.
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Philips pension arm Schootse Poort changes name
NETHERLANDS – Schootse Poort, the manager of Koninklijke Philips Electronics’ 12.5 billion euros in pension assets, has changed its name to Philips Pensions Competence Center.
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Dutch pre-pension move seen fostering fairness
NETHERLANDS – The ending of the Netherlands’ pre-pension system will foster actuarial fairness, the International Monetary Fund says.
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Danish second-pillar taps investment funds
DENMARK – FEFSI says Danish second-pillar pension assets held in investment funds have almost doubled in the first quarter due to the conversion of the Special Savings Pension Scheme.
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Schroders names head of multi-asset solutions
UK - Schroders plc has named Curt Custard as head of multi-asset solutions, a new role.
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IPE-QUEST: Insurer tenders Chinese equities
EUROPE – A Continental European insurance company has tendered a 200 million-dollar active Chinese equities mandate via IPE-Quest.
