All IPE articles in July 2006 (Online) – Page 8
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News
Belgium legislates for pan-European funds
BELGIUM - The Belgian government has passed legislation enabling pan-European pension funds to operate in and from the country.
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SSGA Nordic chief de Greef joins Acadian
EUROPE - Laurent de Greef, head of marketing and business development for Nordic and Southern Europe at State Street Global Advisors, has joined Acadian Asset Management to run its new London office.
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ABP in €417m Barcelona hotel deal
REAL ESTATE – Dutch civil service pension fund Stichting Pensioenfonds ABP and partners including an affiliate of the Government of Singapore Investment Corp. have agreed to buy the Hotel Arts Barcelona for €417m.
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Law Debenture trustee revenue up 15.4%
UK – Trustee services and investment group Law Debenture has posted a 15.4% increase in trustee services revenue in the first half of 2006.
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UK regulator fails to collect £50m of levies
UK – The Pensions Regulator says it was only able to collect 71% of the levies due from companies in the most recent financial year – leaving more than £50m (€73.2m) in outstanding payments.
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Myners joins Land Securities as chairman
UK – Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government, is to join real estate firm Land Securities as chairman.
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North Yorks tenders TAA (Correct)
UK - The £1.1bn (€1.6bn) North Yorkshire Pension Fund says it has tendered a £44m Global Tactical Asset Allocation mandate following a review of its equity investment strategy (Corrects name of advisor).
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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L&G eyes longevity risk products for big schemes
UK – Legal & General says it sees “significant” growth opportunities in new products offering longevity products to larger pension schemes.
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Expert warns over pensions at German SMEs
GERMANY – Small-to-midsize companies in Germany that finance pension liabilities via book reserves could face insolvency if they do not find an alternative, like creating an external fund, a senior Frankfurt tax official has warned.
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Williams exits Railpen Investments after a year
UK – Griff Williams, senior investment manager at Railpen Investments, has left after just over a year to join Pioneer Investments.
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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.
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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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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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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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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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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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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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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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Mercer acquires Pendia in Switzerland
SWITZERLAND - Mercer Human Resource Consulting has acquired Swiss consulting firm Pendia Associates.
