Investor Strategy – Page 231
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Swedish euro vote has little pension impact
SWEDEN – Sweden’s decision to reject the euro is not seen as having a major impact on Swedish pension industry.
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Aberdeen’s property arm names new Europe head
UK – Aberdeen Property Investors has appointed Paul Aggett to oversee its Nordic, UK and continental European divisions - essentially taking the role of chairman Iain Reid.
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Devon pension scheme investment chief to retire
UK – Ian Faulkner, investment manager of the 2.1 billion-pound (2.99 billion-euro) Devon County Council Pension Fund, is to retire next year.
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UK’s Audit Commission seeks investment consultant
UK – The 250 million-pound (356 million-euro) pension fund of the Audit Commission is tendering for an investment consultant.
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More Dutch pension assets now externally managed
NETHERLANDS – Almost three-quarters of Dutch pension fund assets are now externally managed, according to a new report by consulting firm Bureau Bosch.
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Matheson pension plan opts for Russell
UK – The Matheson Group Pension Plan has awarded a 20 million-pound (28.5 million-euro) multi-manager mandate to Russell.
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Siemens sets up Luxembourg pension plan
LUXEMBOURG – German industrial group Siemens has launched an international pensions plan for its Luxembourg based employees.
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UBS and others unveil new Swiss pension product
SWITZERLAND – A group including UBS’s asset management arm is to launch pension fund provision for small and medium-sized Swiss companies to compete with insurers.
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Surrey scheme considers core-satellite approach
UK – Surrey County Council’s 950 million-pound (1.35 billion-euro) pension fund is reviewing the services and management of the scheme, and is considering a series of mandates.
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Retirement age the hot topic at CERP conference
ITALY – The age of retirement in Europe is the focus of a forthcoming conference organised by Italy’s Center for Research on Pensions and Welfare Policies, or CERP.
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Job cuts inevitable as Aberdeen buys EFM
UK – Aberdeen Asset Management has confirmed that it is buying Edinburgh Fund Managers for 36 million pounds (51.8 million euros).
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ING targets pension funds with property fund
UK - ING Real Estate Investment Management is targeting pension funds with a new property fund of funds.
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‘Dam has burst’ for UK corporate pensions
UK – The number of defined benefit schemes may be decreasing, but employers still remain the main contributors to occupational pension plans, according to the employers’ body the Confederation of British Industry.
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Italian surveyors’ fund tenders two mandates
ITALY – The 1.2 billion-euro Italian pension fund for surveyors has put out to tender two mandates totalling 150 million euros.
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Fidelity hires ex-Mercer consultant Matthews
UK – Fidelity Investments has appointed former Mercer consultant Kathryn Matthews as executive director of structured investments.
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Ex-State Street research head Persaud joins GAM
UK – Avinash Persaud, former head of global research at State Street, is to join UBS’s asset management subsidiary GAM next month.
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M&G hires NIB investment chief van Gelderen
NETHERLANDS – Prudential M&G is making a push into the Dutch pensions market, with the appointment of Eduard van Gelderen as director of fixed income.
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Italy the focus at European pension summit
ITALY – Italy is one of the main topics – alongside the pension fund directive – to be covered at the forthcoming European Pension Schemes Summit in Rome next month.
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Sweden’s AP2 names new head of equities
SWEDEN – Andra AP-fonden, the second Swedish national pension fund, has hired Nordea Investment Management’s Poul Albaek Winslöw as its new head of equities.
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Portuguese pension funds return +4.7% - Mercer
PORTUGAL – Portuguese pension funds returned a median +4.7% in the first half of 2003, according to a survey by Mercer Investment Consulting.
