All IPE articles in July 2006 (Online)
View all stories from this issue.
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Ruling in Dutch energy centre pension case
NETHERLANDS – A court ruling has favoured employees in their pension dispute against Energy research Centre of the Netherlands (ECN) and the Nuclear Research Group (NRG).
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Deminor to launch activist fund this year
BELGIUM – Shareholder rights and corporate governance advisory company Deminor is to launch an ‘activist fund’ later this year.
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Tower Hamlets tenders UK and global equities
UK – The £640m (€935m) London Borough of Tower Hamlets Pension Fund has tendered an initial £160m in UK and global equities.
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Segars appointed NAPF chief executive
UK – Joanne Segars is to take over from Christine Farnish as chief executive of the National Association of Pension Funds.
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“Back to basics” for pensions accounting project
EUROPE – The Accounting Standards Board is going “back to basics” for its research project into pensions accounting.
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Woolworths scheme puts 10% into alternatives
UK – The £300m (€438m) Woolworths Group Pension Scheme is to put 10% into alternative investments including property and active currency following an investment review by Hewitt Associates.
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ABN Amro AM profits fall amid €1.8bn outflow
GLOBAL – ABN Amro has disclosed €1.8bn in net outflows and a fall in profits at its asset management business unit in the second quarter of 2006.
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Germany's Westfalen-Lippe fund backs Hermes
GERMANY - The €6.85bn Westfalen-Lippe doctors' pension fund has put €25m into the Hermes European Focus Fund.
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Mercer takes over at €2.4bn Allied Domecq scheme
EUROPE – Mercer Human Resource Consulting has taken over the running of the €2.4bn pension fund of drinks firm Allied Domecq.
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EU launches financial legislation database
EUROPE – The European Commission has set up a database allowing public access to all European Union member states’ financial services legislation - including the directive on occupational pension funds.
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NIBC eyes stock market listing
NETHERLANDS – NIBC, the merchant bank that was formerly owned by the two largest Dutch pension funds, is preparing a stock exchange listing.
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Mercer acquires Pendia in Switzerland
SWITZERLAND - Mercer Human Resource Consulting has acquired Swiss consulting firm Pendia Associates.
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State Street CEO eyes hedge fund acquisitions
GLOBAL – State Street chief executive Ron Logue has indicated that the bank sees opportunities to make acquisitions in the areas of asset management, institutional books of business and - possibly - hedge funds.
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NAPF seeking pensions investment policy adviser
UK – The National Association of Pension Funds has advertised a vacancy for a Pensions Investment Policy Adviser.
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Swiss association defends pension benefit cuts
SWITZERLAND – Hans Ender, president of Swiss pension fund association ASIP, has defended the government’s proposed cuts in future corporate pension benefits and urged more “restraint” in adjusting current benefits for inflation.
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Austrian Pensionskassen members attack schemes
AUSTRIA – An advocacy group representing insured members at Austrian pension funds (Pensionskassen) has attacked the schemes for grossly overstating current and future benefits and appealed to the government for help.
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Allied Domecq’s Smith strikes out on his own
UK – Brian Smith, former pensions and international benefits executive at drinks firm Allied Domecq, has set up on his own.
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Siemens pension assets return just 3.4%
GERMANY – Siemens says it made a return on its pension assets of an annualised 3.4% in the first nine months – as against an expected annual return of 6.7%.
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London University awards £102m to Newton
UK – The London University pension fund has awarded a £70m (€102.5m) Continental European equities brief to Newton Investment Management.
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Shell indicates $500m settlement with investors
NETHERLANDS – Oil giant Royal Dutch Shell has indicated it would settle the class action suit brought by investors over its misreported reserves for $500m.
