Investor Strategy – Page 240
-
News
Drop in Swiss pension performance index
SWITZERLAND - The Swiss Pension Fund Performance Index, which measures the performance of 57 Swiss pension funds, fell from 98.3% to 90.5% last year.
-
News
Pensions and savings ‘not in crisis’ says UK Govt
UK - The UK government has denied suggestions that Britain is facing a pensions and savings crisis, responding to questions in the House of Lords.
-
News
Sweden's AP1 announces double-digit loss for 2002
SWEDEN – AP-1, the 117.1 billion Swedish krone (12.8 billion euro) first Swedish national pension fund, has posted a loss of 13.8% for 2002, and has announced changes to its asset allocation following an ALM study....
-
News
UBS to set up holding company
EUROPE – Swiss bank UBS is to create a holding company to incorporate its five independent private banks and GAM, its specialist portfolio and asset manager - together they run 70 billion Swiss francs (47.6 billion euros) in assets on behalf of their clients.
-
News
European CIOs see assets rising in 2003
EUROPE – Eighty percent of European chief investment officers surveyed by US risk measurement firm Barra are positive that assets under management will increase over 2003.
-
News
Henderson names UK institutional marketing head
UK – Henderson Global Investors has appointed two former J P Morgan Fleming Asset Management employees to its UK institutional marketing team.
-
News
Invesco wins Leica DC pension business
GERMANY – Optics firm Leica Microsystems in Frankfurt has chosen Invesco Retirement to provide a defined contribution pension plan for its 1,300 employees in Germany.
-
News
Calpers seeks hedge fund boost
US – Investment staff at Calpers, the world’s second largest pension fund, are to recommend that the fund raise its one billion dollar (930 million euro) allocation to hedge funds when the fund’s investment committee meets in June.
-
News
Finland’s Varma sees higher-than-inflation yield
FINLAND – The largest Finnish pension insurer, Varma-Sampo, sees its average yield rising to 3%-4% higher than inflation – the prediction came as it reported a 1.9% yield on investments in 2002.
-
News
Credit Lyonnais’ asset management profits slip
FRANCE – French bank Credit Lyonnais’ asset management business saw its 2002 net profits fall 5.6% to 203 million euros.
-
News
PPI warns of serious crisis in UK pensions
UK – The UK state pension system has come under fire from the Pensions Policy Institute research organisation, which warns that “a serious crisis is looming”.
-
News
Sweden’s AP3 records 12.6% negative return
SWEDEN – Citing the continued downturn in equity markets, Tredje AP-fonden, the third national Swedish pension fund or AP3, has recorded what it has termed a “painful” negative return of 12.6% for 2002.
-
News
TPG surprised at S&P pension rating
NETHERLANDS – TPG, the Dutch logistics firm, has said it is surprised to be one of the companies put on credit watch by ratings firm Standard & Poor’s because of unfounded pension liabilities.
-
News
Dutch SNT names TKP as administrator
NETHERLANDS – The newly established corporate pension fund for Dutch customer relationship management firm SNT has appointed TKP Pensioen as its administrator.
-
News
Skandia chief Ramqvist resigns
SWEDEN – Lars Ramqvist has resigned as chairman of troubled Swedish insurer Skandia following a year in which operating profits almost halved.
-
News
40% of PE fund of funds managers under threat
GLOBAL – Rapid growth in the private equity market may spell good news for fund of funds managers, but only those offering distinct strategies will last the duration, according to a report by London-based private equity research firm AltAssets.
-
News
PwC sees four priorities for UK pension system
UK – PricewaterhouseCoopers has suggested that there are four pension issues that need to be addressed by the government - better financial education, greater simplicity, fewer tax complications and improved age discrimination.
-
News
SEI wins e45.4m global equity mandate from AEP
UK – AEP Energy Services Generation Ltd.’s pension fund has appointed manager of managers SEI Investments to run a 30 million pound (45.4 million euro) global equity mandate.
-
News
HSBC sets up trustee advisory service
UK – HSBC’s actuarial consultancy arm has launched a service to advise pension fund trustees in the wake of the Myners report.
-
News
OECD to look at pensions supervision
EUROPE - The Organisation for Economic Cooperation and Development's Private Pensions Working Party is to look at member states’ pension supervision within the next few months, says its new chairman Ambrogio Rinaldi.
