All articles by Jan Wagner – Page 13
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Swiss public funds underfunded, Complementa says
SWITZERLAND – Swiss public pension funds were slightly underfunded at the end of the second quarter, while private schemes remained somewhat overfunded, according to a new survey by Swiss consultant Complementa.
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ASIP admits best practice code ignored
SWITZERLAND – Only 10% of Switzerland’s 3,000 pension funds, known as Pensionskassen, have bothered to adopt a best-practice code developed six years ago by ASIP, the association for the schemes.
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Swiss association rules out governance laws
SWITZERLAND – Despite the Swissfirst scandal, Swiss pension fund association ASIP has urged the government to refrain from enacting new laws aimed at tightening regulation of Swiss schemes, known as Pensionskassen.
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Swiss voters reject SNB cash for pensions plan
SWITZERLAND – Swiss voters have overwhelmingly rejected a proposal to use up to CHF1.5bn (€950m) from the Swiss National Bank’s annual profit to bolster the state pension scheme.
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German media fund hires FAROS
GERMANY – Baden-Badener Pensionskasse (BBP), a €246m pension fund for employees at public television and radio stations, has hired German consultant Faros to search for a global custodian and a provider of so-called “master funds”.
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Bosch CFO mulls pan-European pension fund
GERMANY – Gerhard Kümmel, chief financial officer of German auto component maker Robert Bosch, has signalled the firm may create a pan-European pension fund out of its existing German Pensionsfonds.
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Capital Group takes 5% of Commerzbank
GERMANY – US fund manager Capital Group has disclosed a 5.03% shareholding in Commerzbank, making it the German bank’s second largest shareholder after Italian insurer Generali, which has 8.6%.
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MLP takes control of FERI Finance
GERMANY – Independent financial advisor MLP has taken a controlling stake in Feri Finance, the holding company of German investment consultant Feri Institutional Advisors (FIA).
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BaFin chief Sanio under scrutiny in fraud probe
GERMANY – Jochen Sanio, president of German financial services regulator BaFin, could be forced to step down following a report by the auditor PWC that found instances of fraud and gross mismanagement at the regulator.
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Germany: Watson welcomes BVI’s scrutiny
GERMANY – International consultant Watson Wyatt has broken ranks with its peers by welcoming a questionnaire from German fund industry association BVI.
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MEAG nabs €100m Protektor mandate
GERMANY – Protektor, the administrator of a new insolvency fund for life insurers and Pensionskassen, has awarded German asset manager MEAG with a €100m mandate for undisclosed investment services.
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German institutions eye structured, private equity
GERMANY – Pension funds and insurers are planning more investment in alternatives this year and next, but will only award mandates for structured products and private equity, according to a new survey by German consultant Heissmann.
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New MD at Swiss Pensionskasse Post
SWITZERLAND – Pensionskasse Post, a CHF12.2bn (€7.7bn) pension fund for Swiss postal employees, says it has appointed Francoise Bruderer as its new managing director, effective from January 1.
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Siemens sets up Pensionsfonds in Germany (updated)
GERMANY – Technology giant Siemens has set up an Anglo-Saxon style Pensionsfonds, says German financial services regulator BaFin (Updates with clarification from Siemens).
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Hamburg sets up €1.3bn pension fund
GERMANY – Hamburg has created a new €1.33bn fund to meet pension obligations from 10,000 people employed at five institutions owned by the German city-state.
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Sal. Oppenheim says it wins €60m hedge brief
GERMANY – Volkswagen Stiftung, a €2.4bn foundation that bears the German car giant’s name, has awarded German asset manager Oppenheim KAG with a €60m fund-of-hedge fund mandate, IPE has confirmed (Updates to name investor).
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FERI Institutional Advisors names four new MDs
GERMANY – German consultant FERI Institutional Advisors has appointed four new managing directors while confirming that Hartmut Leser, another MD, is to leave at the end of September.
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Swiss bank chief queries pension competence
SWITZERLAND – Jean-Pierre Roth, president of Switzerland’s central bank, says he agrees with the view expressed by another top government official that many who run Swiss pension funds are incompetent.
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DC to take off in Germany, Watson Wyatt says
GERMANY – Defined contribution pension plans are set to boom in Germany, according to international consultant Watson Wyatt.
