All IPE articles in May 2005 (Online) – Page 2
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Robeco to assist schemes in voting
NETHERLANDS - Robeco is to offer to assist its larger customers such as pension funds to influence listed companies to meet socially responsible investment criteria.
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Dutch pensions bill delayed (Update)
NETHERLANDS - The new Dutch pensions legislation won’t be ratified by January 1 2006, the Dutch minister for Social Affairs Aart Jan de Geus has indicated in a letter to the parliament (Updates with comment).
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ISS targets Europe with Deminor purchase
EUROPE – US-based corporate governance and proxy voting firm Institutional Shareholder Services is to launch a European operation following the purchase of rival Deminor’s governance arm.
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World Bank proposes five-pillar pension model
GLOBAL – The World Bank appears to have bowed to criticism of the so-called World Bank pension model by put ting forward a new five-pillar framework.
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Greek bank union on warpath over pensions
GREECE - The Federation of Bank Employee Associations (OTOE) said it is on the warpath with government and employers over the sector’s unfunded pension liabilities.
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Watson Wyatt backs trustee allocation decisions
UK - Trustees make “extremely high quality” asset allocation decisions, which can get spoiled during the implementation stage, says a senior investment consultant at Watson Wyatt.
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Northern Trust names head of Nordic sales
NORDIC – Northern Trust has named Allan Nedergaard as vice president of Nordic business development for its institutional custody and asset servicing business.
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McAlpine taps SEI for equities
UK –Alfred McAlpine Pension Trustees has awarded SEI Investments a £45.6m (€66.3m) global developed markets equity mandate.
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SGAM gains €4bn in assets
FRANCE - Société Générale’s asset management arm SGAM had net inflows of €4bn in the first quarter of 2005.
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MLP sees excellent start to Rürup Rente
GERMANY - Independent financial advisor MLP says Germany’s new private pension, the so-called ‘Rürup Rente’ has had an excellent start since being launched last January 1.
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Railpen sees bigger role for absolute returns
UK – Railpen Investments, part of the £15bn (€21.8bn) railways pension scheme, has said it sees an increasing role for the absolute return approach for pension funds.
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Northern Trust in new pension pooling move
GLOBAL – Northern Trust says it has boosted its pension pooling offering by developing a product that allows multinational companies to “commingle” US pension assets with non-US assets.
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Fortis gets OK for Luxembourg pooled LDI funds
LUXEMBOURG - Fortis Investments says it has received approval for pooled liability-driven investment funds from Luxembourg.
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PGGM raises allocation to commodities
NETHERLANDS – PGGM, the €60bn Dutch health care scheme, says it has increased its allocation to commodities due to a new asset mix.
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Citigroup fund exec joins Threadneedle
EUROPE - Peter Lindqvist, a director at Citigroup Asset Management, has joined Threadneedle Investments as head of strategic alliances.
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Schroders sees doubling of German business
GERMANY - The chief executive of the German arm of Schroder Investment Management expects to double institutional and wholesale business in Germany and Austria for the second consecutive year in 2005.
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Professor slams Dutch pension tax discrimination
NETHERLANDS - The Dutch tax system discriminates against entrepreneurs as they build up their pensions, according to professor Gerry Dietvorst of Tilburg University.
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Italian reform reduces redistribution – study
ITALY – A new academic study of the Italian pension reform of the 1990s – which saw a switch into a notional defined contribution system – says the changes reduced both the perverse and good redistribution of the past.
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BT, Royal Mail schemes back property fund
UK – The British Telecom, Royal Mail and BAe Systems pension schemes have invested in a real estate fund focused on small retail parks in the UK.
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Equities forgotten as UK schemes shift €58bn
UK – Equities are becoming the “forgotten asset class” as UK pension schemes shifted £40bn (€58.3bn) out of stocks into bonds last year.
