Investor Strategy – Page 236
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News
SWIP names head of Italian business
ITALY – Scottish Widows Investment Partnership has appointed Francesco Albano as its new head of Italian business development.
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HSBC says ageing is shaping financial services
UK – HSBC says population ageing is starting to shape the demand for financial services.
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Lucent’s Dutch fund ousts Schootse Poort, ABN Amro
NETHERLANDS – The incumbent managers at Lucent Technologies’ 450 million euro Dutch pension fund, Schootse Poort and ABN Amro, have been replaced in a shift to specialist managers.
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Liechtenstein’s LGT buys Swiss Life’s STG
SWITZERLAND / LIECHTENSTEIN – Financial services company, LGT GROUP, is acquiring fiduciary company STG Treuhandgesellschaft and its subsidiaries from the Swiss Life Group in order to expand, and to strengthen its activities in Switzerland.
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Law Debenture’s finance chief Skeggs leaves
UK – The chief financial officer of trustee services firm Law Debenture, Peter Skeggs, has left abruptly.
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Two German pension consulting firms merge
GERMANY – Consulting firms Heubeck and FJA are merging to exploit opportunities in the German pensions market.
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NAPF in corporate governance joint venture
UK - UK investors will soon have better access to corporate governance analysis and electronic voting as a result of a joint venture between the National Association of Pension Funds and the US-based governance organisation, Institutional Shareholder Services.
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ABP, PGGM oppose Telecom Italia-Olivetti merger
EUROPE – Some of Europe’s largest pension funds have backed a call opposing Telecom Italia’s planned merger with Olivetti.
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Institutions flex muscles in Glaxo pay vote
UK – Shareholders have voted to reject a controversial pay package of the chief executive of drugs company GlaxoSmithKline - the first time a UK blue-chip company has had its pay scheme rejected by shareholders.
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UK pension funds lack formal assessment of consultants
UK – An overwhelming majority of UK pension funds have no formal way of assessing the advice they receive from consultants, according to a new survey.
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Norway’s KLP ready for new pension proposals
NORWAY – Mutually-owned insurer KLP says it is well placed to benefit from proposed changes in the Norwegian pensions market, but says it will mean hard work and a change in its approach.
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ISIS Asset Management discloses voting record
UK - ISIS Asset Management has brought out into the open its shareholder voting policy on behalf of its clients.
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Asset managers “need louder voice at Brussels”
EUROPE – The outgoing head of the UK’s asset management trade association says there is a lack of understanding of the industry at the European policy level.
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Cross-border property investing on the rise
GERMANY - Cross-border investing in property by institutions is becoming more popular and investors should be looking at forming a regional rather than a domestic strategy – that’s the message from the IPD property conference in Wiesbaden.
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Mercer: managers open to liability benchmarking
UK - Mercer has found that UK investment managers are open to the idea of using liability benchmarking – though it says there has to be more dialogue between trustees, consultants and managers to make them workable.
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German pension accounting under review
GERMANY – A new accounting standard is set to have a major impact on the German pension system, says consultancy firm Hoefer.
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Minister says Germans need occupational schemes
GERMANY - Germans should not only be investing in their pensions through Riester-Rente but also through occupational pension schemes - says German labour minister Ulla Schmidt.
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Merrill Lynch Investment Managers settles pension case
UK – Merrill Lynch Investment Managers has settled a legal dispute with the 2.1 billion pound (2.9 billion euro) pension scheme of the Co-operative Group.
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New European property investment body to launch
EUROPE – A new pan-European body for investors in non-listed real estate is to launch next week which hopes to tackle the issues arising in the growing market.
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DeAM hires Hindle Fisher from UBS
UK - Deutsche Asset Management, the second largest manager of European pension assets, has hired the former UK head of UBS Asset Management.
