All IPE articles in July 2006 (Online) – Page 3
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News
€5.3bn Hoechst fund wary of alternatives
GERMANY – Hoechster Pensionskasse (HPK), the €5.3bn pension fund for companies that were part of the old Hoechst chemical conglomerate, says it is wary of investing in alternative asset classes currently due to what it perceives as weaknesses with the products.
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The Hague taps Aegon for levensloop scheme
NETHERLANDS - The city council of The Hague has chosen insurer Aegon to provide a life course (levensloop) pension arrangement for all of its 8,000 employees, Aegon announced.
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Forbo scheme names MN as investment manager
NETHERLANDS - The company pension fund of linoleum producer Forbo has selected MN Services as its new investment manager, MN has announced.
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UK makes changes to pension assistance scheme
UK – The UK government is to change the administration of the much-criticised Financial Assistance Scheme for wound-up pension funds.
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Eureko to sue Polish govt as row escalates
NETHERLANDS – Eureko, the Dutch insurer which owns pensions firm Achmea, is to sue the Polish State Treasury for an infringement of its personal rights.
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Bromley hands CAAM €58.5m in absolute returns
UK – The £320m (€468m) London Borough of Bromley Pension Fund has awarded Crédit Agricole Asset Management a £40m (58.5m) absolute return mandate.
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Oppenheim asset chief Borgmeier quits for rival
GERMANY – Bernd Borgmeier, co-head of Sal. Oppenheim’s asset management arm, has stepped down to join rival M.M. Warburg.
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KPMG replaces E&Y at BA pension scheme
UK – KPMG has taken over as auditors at British Airways’ €14bn New Airways Pension Scheme from Ernst & Young – severing a link with the company’s own auditor.
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Dutch finance regulator to leave early
NETHERLANDS – Arthur Docters van Leeuwen, chairman of market and pensions regulator De Autoriteit Financiële Markten, may leave his post earlier than expected to pursue a political career.
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Activest CEO Fehrenbach resigns
GERMANY – Andreas Fehrenbach, chief executive of German asset manager Activest, has resigned to make room for Dominik Kremer, the German head of Pioneer Investments, as part of Pioneer’s full absorption of Activest this autumn.
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Asset management M&A hits record – report
GLOBAL – The sale of asset management businesses worldwide in the first half of 2006 hit the highest level ever, according to a new report.
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Negative returns at Dutch transport, postal funds
NETHERLANDS - The Spoorwegpensioenfonds SPF has booked negative returns of -2.5% during the second quarter of 2006, the €11.1bn scheme reported.
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IPE.com relaunches for better navigation, access
GLOBAL – IPE.com, the leading pensions and investments website, is being relaunched to improve navigation and speed up access.
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Gist-Brocades, DSM-Chemie funds in €5bn merger
NETHERLANDS - The Gist-Brocades and DSM-Chemie pension funds are to merge, creating a fund worth more than €5bn.
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Irish reserve fund posts negative Q2 returns
IRELAND – The €16.3bn National Pensions Reserve had a negative investment return of almost 4% in the second quarter of this year – although it was up in the first six months.
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Heissmann tapped for Austria DC tender
AUSTRIA – A legal counsel group tied to Austria’s justice ministry has asked pension consultant Buck Heissmann to find a provider of a defined contribution scheme for its 370 employees.
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IPE-QUEST: Middle East company re-tenders debt
GLOBAL – A Middle Eastern investment company has re-tendered a global developed markets debt brief via IPE-Quest.
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Hewitt’s Nilsson joins Sweden’s KP Pension
STOCKHOLM – The SEK50bn (€5.4bn) Swedish co-operative pension foundation KP Pension & Försäkring says it has hired Hewitt Associates consultant Björn Nilsson as its new head of marketing.
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West Midlands tenders currency mandates
UK – The £6.6bn (€9.7bn) West Midlands Metropolitan Authorities Pension Fund is tendering two new briefs – one currency alpha mandate and an active specialist currency overlay mandate.
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Interpolis-Achmea CEO Van der Pol steps down
NETHERLANDS - Kick van der Pol, chief executive of the merged Dutch pension insurer Interpolis-Achmea, is to step down on October 1, Interpolis has announced.
