Investor Strategy – Page 232
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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.
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AP4 not satisfied with performance vs. benchmark
SWEDEN – The fourth national pension fund Fjarde AP-fonden, or AP4, says its performance against its benchmark in the first half of the year was “unsatisfactory”.
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Constellation launches global benchmarks
GLOBAL – Investment management firm Constellation Capital Management is to launch a set of global benchmarks aimed at helping pension fund trustees.
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State Street names UK consultant relations head
UK – State Street has named Yvonne Franklin to head consultant relations in the UK.
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Hewitt ousts Mercer at Polestar pension scheme
UK – The 350 million-pound (504.2 million-euro) pension scheme of printing firm Polestar Group has awarded a pensions consulting job to Hewitt Bacon & Woodrow, resulting in a loss for rival Mercer.
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Allianz Leben says non-Riester business strong
GERMANY – Allianz Leben has reported a strong performance in its pensions business in the first half as a growing number of people are turning to private pension schemes, but Riester pensions are still “disappointing”.
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Swiss unions protest at pension “robbery” by insurers
SWITZERLAND – Members of the Swiss industrial and building union, SIB, have protested against plans by Winterthur to lower pension conversion rates and hike premiums - with one official likening the matter to robbery.
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Russell/Mellon CAPS hires ex-DeAM marketer Jasani
UK – Russell/Mellon CAPS has bolstered its marketing team with addition of Bella Jasani and Tony Novo.
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UK’s Singer says hit by consultants’ changes
UK – Banking and fund management firm Singer & Friedlander says it has lost several institutional mandates as a result of shifts in strategy by consultants and asset allocation by clients.
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Credit Suisse AM sees asset-allocation role
EUROPE – Institutional investors will increasingly seek asset-allocation advice from their fund managers rather than from their consultant, believes Credit Suisse Asset Management.
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Unilever’s missing vote mystery partly solved
UK/NETHERLANDS - US proxy voting agency Institutional Shareholder Services has admitted to being partly responsible for the millions of lost votes at Unilever’s annual meeting.
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Mercer hosts seminars on moving to DC
UK – Mercer Human Resource Consulting is hosting a series of half-day seminars on the challenge of moving to a defined contribution pension scheme.
