All IPE articles in June 2005 (Online)
View all stories from this issue.
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News
France's FRR returns 9.46% on mandated assets
FRANCE - The French pensions reserve fund, the Fonds de Réserve pour les Retraites, made a return of 9.46% on the assets it had with asset managers in 2004.
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Sweden’s AP funds to meet government
SWEDEN – The six Swedish state pension buffer funds are to meet local government and financial markets minister Sven-Erik Österberg to discuss a government report on their structure.
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European personal pension account proposed
EUROPE – Investment fund association EFAMA has proposed a European personal pensions account to ease cross-border portability of pension rights.
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Volkswagen Pension Trust in revamp (Update)
GERMANY - Volkswagen Pension Trust, the pension fund for the German car giant, has completed a sweeping revamp of the way its €1.5bn in pension assets are invested (Updates with clarification, fresh edit).
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IPE-QUEST: Danish fund tenders €75m
DENMARK – A Danish pension fund has started an asset manager search for two mandates worth a total €75m via IPE-Quest.
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DWS sees mutual fund role for pensions
EUROPE – Deutsche Bank’s DWS Investments fund arm says there is potential for mutual funds to play a role in private pension provision.
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Pension funds pull €1.6bn from Liontrust
UK – Pension funds pulled £1.1bn (€1.6bn) from equity specialist Liontrust Asset Management in the year to the end of March – hit by a move towards hedge funds.
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Dutch OPF names Unilever’s Sibbing as chairman
NETHERLANDS – The OPF, the Dutch Association of Company Pension Funds, has named Loek Sibbing as chairman.
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Directive unclear on cross-border – Commission
EUROPE – The European Commission’s internal market arm has admitted that the directive on occupational pensions is “not clear” about cross-border activities.
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Watson Wyatt names international consulting head
GLOBAL - Watson Wyatt Worldwide has appointed Watson Wyatt LLP partner Simon Gilliat to the new role of head of its international consulting group, which will focus on employee reward and benefits consulting to multinationals.
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Germany’s DekaBank in pensions consulting tie
GERMANY – Fund manager DekaBank has formed a joint venture with Neuburger & Partner, a Munich-based actuarial and pensions consultancy, to provide pensions consulting to German institutional clients.
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Greece sells telecom stake to pay for pensions
GREECE - The Greek government has agreed to sell 4% of its majority stake in the Hellenic Telecommunication Organization (OTE) to contribute to the voluntary early retirement plan for nearly one third of the firm’s workforce.
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Improved Dutch schemes good for premiums – DNB
NETHERLANDS – The better financial position of Dutch pension funds in 2004 may mean that the period of higher premiums might be coming to an end says director Dirk Witteveen of the pensions regulator De Nederlandsche Bank.
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Shell Dutch pension talks in deadlock
NETHERLANDS - The pensions dialogue between the central works council and management at oil giant Shell Nederland is deadlocked – with unions talking about possible strike action.
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More members want to be trustees – law firm
UK – Pension scheme members are showing more interest in becoming trustees – despite regulation putting more responsibility on them, says a pensions lawyer at Hammonds.
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Petroleum Fund seeks head of external mandates
NORWAY – Norges Bank Investment Management, which runs the NOK1.09trn (€134bn) Petroleum Fund for the Norwegian government, is looking to hire a head of operations for external mandates, a new role.
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UK DB schemes ‘in €192bn pension deficit’
UK – UK defined benefit pension schemes are more than £130bn (€192bn) in deficit, according to the Association of Consulting Actuaries.
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Belgium eyes new legal formula for pensions
BELGIUM - The body advising Belgian minister Bruno Tobback on pensions issues is to consider a legal formula to create a level playing filed between new sector-wide pension funds being established under the so-called Vandenbroucke Law and pension insurance companies.
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Dutch building fund changes name, seeks clients
NETHERLANDS - The Dutch social fund for the building industry, or SFB, has changed its name and says it will intensify its efforts in finding new clients.
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EFRP calls for correct transposition of directive
EUROPE – The European Federation for Retirement Provision says the correct transposition of the occupational pension fund directive could be undermined by a draft protocol by the EU’s committee of pensions supervisors.
