All IPE articles in May 2002 (Online) – Page 5
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UK funds double private equity investment in 2001
UK – The amount invested by UK pension funds in private equity almost doubled last year from £817m (€1,309m) to £1,594m (€2,554m), says the latest British Venture Capital Association (BVCA) and PricewaterhouseCoopers (PCW) private equity survey.
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Punter Southall acquires pension consultant BGJ
UK – London-based pensions management and actuarial consultants Punter Southall has acquired pensions consultancy firm, BGJ. BGJ was founded in 1993 and specialises in the corporate pensions market, offering advice on all aspects of corporate pensions to both companies and individuals.
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New Swedish government fund angers employers
SWEDEN- A new collectively-agreed supplementary pension scheme for 220,000 central government workers in Sweden has angered employers, who fear it will encourage private sector employees to press for higher employers’ contributions to their own schemes.
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SWIP enters Italian agreement with Cofiri Sim
UK / ITALY – Edinburgh-based Scottish Widows Investment Partnership (SWIP) has entered into a cooperation agreement with Italian investment bank, Cofiri Sim, to pursue new business opportunities in the segregated institutional asset management market in Italy.
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FSA's Farnish named as new NAPF head
UK- The National Association of Pension Funds has named the Financial Services Authority’s Christine Farnish as its new chief executive and replacement for David Cranston who resigned last December after eighteen months in the job.
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Meijer builds back office for European schemes
NETHERLANDS- Former Shell pension fund treasurer Robert Meijer is launching an integrated back office system for pension funds in Europe. Meijer, now an independent consultant, along with an IT company, an accountancy firm and a software house began developing the system two months ago.
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UK government admits pensions are over-regulated
UK– Secretary of state for work and pensions Alistair Darling today promised to make pensions “genuinely popular” by making them more accessible and simpler.
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Hymans Robertson names new partners
UK- Actuarial and consulting firm Hymans Robertson has announced the appointment of five new partners: David Bowie is head of quantitative analysis in the firm’s investment practice and has been with Hymans since 2000 when he joined from the WM Company.
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US schemes show 'modest' first quarter returns
US- US plan sponsors have witnessed modest first quarter returns according to Mercer Investment Consulting. The latest performance figures for US institutional figures show corporate plans returned an average 1% return while public plans and foundation/endowment funds fared better with a corresponding 1.2%.
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Mercer presses for change to pensions regulations
UK- Mercer Human Resource Consulting is urging the government to introduce radical changes to taxes and regulations governing both public and private pension provision.
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Luxembourg's first SEPCAV closes
LUXEMBOURG- Luxembourg’s first SEPCAV has closed after two years having failed to raise any funds. Launched at the end of 2000, Alliance Pension Fund (APF) was a partnership between the consultants Barnett Waddingham, Banque Generale du Luxembourg and Alliance, the Dubai-based insurance company.
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Stroobants outlines future after leaving VKG/CPM
BELGIUM- Karel Stroobants, the former general manager of the VKG/CPM pension fund in Brussels, has broken his silence about his future plans.
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Pension funds may have to insure group risk
UK – Insurance companies are currently looking at their minimum aggregate exposure levels to group life insurance with a view to setting it at £100m (€161m) per event or geographical location, according to Mercer Human Resource Consulting.
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Dresdner RCM promotes Doyle to consultant role
UK – Dresdner RCM Global Investors has promoted Frank Doyle as head of global consultant relations, with Eilish O’Hagan taking over Doyle’s previous position as head of institutional sales, UK and Ireland.
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Russell to run Croudace and Maybrook schemes
UK- Croudace and Maybrook Properties have appointed Frank Russell Company to manage their £15 million pension scheme. Trustees of the fund were advised by Jardine Lloyd Thompson, and have opted to invest in Russell’s multi-style, multi-manager funds.
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Van Bakel to replace Huibrechtse at SFB
NETHERLANDS – Jan van Bakel has been named as the new director of investments with the e18.4bn Amsterdam based SFB Vermogensbeheer group, the third party asset management outfit created by the Dutch industry-wide pension fund for building workers.
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EC directive will not complete in next six months
EU member states have come closer together in recent months in their positions about the EC’s proposed pensions directive, said Jean-Yves Muyelle of the commission. “However, there is not as yet agreement among them,” he added.
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Belgian minister sets 2003 pension law deadline
BELGIUM- The Belgium ministry of finance has said that the country’s new occupational pensions legislation will be passed and in place by the beginning of next year.
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ABA challenges Riester on deferred compensation
GERMANY- The ABA, the German Occupational Pensions Association, has called on labour minister Walter Riester to defer his plans to scrap deferred compensation in 2008.
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Gascoine joins AXA in key pensions role
UK- AXA Investment Managers has appointed Bruce Gascoine as a director in the UK Institutional sales team. As part of his new role, he will be responsible for business development within the pension fund and insurance markets.
