All articles by Jan Wagner – Page 14
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Germany’s EnBW confirms multi-billion revamp
GERMANY – Energie Baden-Württemberg, Germany’s third largest energy firm, has completed a revamp of the way its pension money is invested, switching to a so-called ‘master-fund’ structure for the assets.
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Airbus Deutschland mulls emerging markets
GERMANY – Airbus Deutschland is considering investing between €30m and €40m in pension assets in emerging market shares or bonds to better diversify its portfolio, senior officials at the company say.
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German state pension scheme revenues rise
GERMANY – Revenues for Germany’s state pension scheme rose sharply in the first half of 2006, relieving financial pressure on the scheme and prompting some experts to question the government’s plan to increase the statutory pension contribution on January 1 2007.
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Demand for Riester-Rente surges
GERMANY – Demand for the ‘Riester-Rente’, a government-subsidised private pension launched in 2002, surged again in the second quarter, pushing the total number of contracts to almost 7m, the government has reported.
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Publica dragged into insider trading scandal
SWITZERLAND – Publica, one of Switzerland’s largest pension funds, is the latest scheme to become embroiled in the Swissfirst insider trading scandal.
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Germany’s Funk takes stake in consultant Böhm
GERMANY – Funk Gruppe, Germany’s biggest independent insurance broker, says it has acquired a majority stake in actuarial and pensions firm Böhm Consultants. Financial details were not disclosed.
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Fidelity names German pensions sales head
GERMANY – Fidelity’s German arm has recruited Christof Quiring from rival Invesco for the new position of head of pensions sales, effective from October 1.
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Swiss insider trading scandal widens
SWITZERLAND – A sixth pension fund has become embroiled in the alleged insider trading scandal at Swiss bank Swissfirst – the Pensionskasse for the bank itself.
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Swiss chief rounds on pension fund “bunglers”
SWITZERLAND – The five Swiss pension funds involved in the Swissfirst insider trading scandal have been dubbed “bunglers” by the president of Switzerland’s Social Security Fund.
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German Spezialfonds take €5bn market hit
GERMANY – The declining bond and equity markets in the second quarter caused the volume of German institutional funds (Spezialfonds) to decline by €5bn to €630bn, according to German fund industry association BVI.
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Swissfirst CEO hits back over trading allegations
SWITZERLAND – Thomas Matter, chief executive of Swiss bank Swissfirst, has dismissed allegations that he and five Swiss pension funds may have been involved in insider trading from which he benefited.
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German consultants Böhm and FUNK to merge
GERMANY – Some sort of merger between insurance broker FUNK and Böhm Consultants, an actuarial and pensions firm, is imminent and could be officially announced on Monday, IPE has learned.
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Germany’s MLP axes sales chief
GERMANY – Financial services firm MLP has parted company with its chief sales executive following weak sales of its occupational and private pensions during the second quarter.
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Complementa in hedge fund web move
SWITZERLAND – The consultant Complementa has teamed up with ZHW, a banking and finance institute at a Winterthur college, to launch a new website aimed at improving transparency of hedge funds for Swiss investors.
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German blue chips’ pension funding improves
GERMANY – The average funding ratio for the pension schemes of firms traded on Germany’s Dax-30 equity index improved to almost 60% on June 30, according to a new study by consultant Rauser Towers Perrin.
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German firms with 'greatest pension risk'
GERMANY - German companies have much more exposure to pensions risk than firms elsewhere in Europe, according to new research from Mercer Human Resource Consulting.
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Germany’s BVV gets WestLB deal
GERMANY – BVV, a €17.7bn pension fund for the German financial services industry, says it will provide a corporate pension to employees at Landesbank WestLB – the fourth Landesbank it has acquired as a client.
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Swiss schemes named in insider trading probe
SWITZERLAND – Five Swiss pension funds, including one for technology firm Siemens and one for pharmaceuticals firm Roche, have been named in connection with insider trading that allegedly took place ahead of a merger between two Swiss banks.
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Swiss pension assets decline – survey
SWITZERLAND – Assets held by Swiss pension funds, known as Pensionskassen, took a beating in the second quarter, falling by CHF13.5bn (€8.6bn) to less than CHF580bn, according to the Swiss bank Credit Suisse.
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Germany’s BVI seeking consultant transparency
GERMANY – Claiming inadequate transparency among investment consultants, German fund industry association BVI has prepared a questionnaire seeking detailed information about their business, IPE has learned.
