All IPE articles in May 2005 (Online) – Page 2
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News
ABA-Pensionskassen can reduce rate of return
GERMANY - Pensionskassen, one of the mainstays of German pension funding, may lower their guranteed rate of return on savings from 2.75% currently to between 2.25% and 2.0% from January 2007, according to the head of Aba’s Pensionskassen section.
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Akzo Nobel first to abolish collective prepension
NETHERLANDS - Chemical company Akzo Nobel is the first company to abolish the collective prepension scheme for its Dutch employees. Instead they can save individually for long-term leave via the new ‘levensloop’ scheme, which still will allow retirement at 62.
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ABP rejigs investment process in drive for alpha
NETHERLANDS - Europe’s largest pension fund ABP has restructured completely how it goes about managing its assets. The E170bn fund has switched to being predominately in-house managed and is 100% on an active basis dedicated to producing alpha.
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L&G ready for capped index investments fund
UK – Legal &General is ready to operate a capped index investment fund for institutional investors requiring broader diversification as large cap UK companies increase in size and weighting.
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Europe drives Hewitt’s consulting growth in Q2
GLOBAL – Consulting and HR firm Hewitt Associates, reported a 4% revenue increase in its consulting segment in the second quarter thanks to a growth in retirement plan management consulting in Europe.
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Unconstrained bonds management adds value-Hewitt
FRANCE – Institutional investors with sizeable bonds portfolio should consider unconstrained mandates, according to Vincent Puche, head of Hewitt Associates’ Parisian practice.
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Outsourcing good way to streamline - Compendeon
NETHERLANDS – The decision by the pension funds of Philips and Akzo Nobel to outsource their asset management and administration marks the start of a trend of placing pension funds at a distance from the sponsoring company, according to Dutch management consultant Compendeon.
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SNS Reaal agrees new style DC plan with unions
NETHERLANDS – Banking and insurance group SNS Reaal has made its pension fund independent. it is one of the first larger Dutch companies to do so.
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Swiss Post executive resigns over vote at Nestle AGM
SWITZERLAND - Jürg Bucher, head of the investment committee for the CHF11bn (€7.1bn) pension fund for Post employees, Post PK, has bowed to mounting pressure to resign after voting in favour of Nestle’s CEO Peter Brabeck becoming group chairman as well.
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Mercer predicts biggest manager search rise in Europe
GLOBAL – Canada and continental Europe are the areas that will see the most investment manager search activity in the period ahead, according to Mercer Investment Consulting.
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UK government on wrong pensions track survey finds
UK – Pension funds believe that government policy is moving in the wrong direction for both occupational and state provision, according to the Association of Consulting Actuaries’ Pension Trends Survey 2005.
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HSBC’s Finch launches boutique Tri Investments
UK - Christopher Finch, former head of pensions product development at HSBC Asset Management, has left the firm to set up a specialist investment boutique for institutional and retail investors.
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F&C sides against limiting voting rights in France
FRANCE - Investment manager F&C has vowed to turn up pressure on French companies to end the practice of limiting voting rights.
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UK university scheme seeks investment chair
UK - The £20bn (€29.4bn) Universities Superannuation Scheme is seeking a new chairman of its investment committee to replace Scott Bell.
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Pension funds face climate-change risks, says report
UK- The pensions industry needs to recognise the long-term impact of climate change and adapt their asset and liability management strategies accordingly or they face an uncertain future, according to a report by UK merchant banking group Climate Change Capital.
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Dutch firms can outsource pension to EU countries
NETHERLANDS - Dutch companies will have the ability to outsource their pensions to a non-Dutch organisation or fund within the EU when the country implements the new EU pensions directive.
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Industry uncertainty over UK election outcome
UK -- The pensions and investment industry response to the outcome of the UK general election was one of no surprise at a re-elected Labour government with a sharply reduced parliamentary majority.
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Italian pension regulator ‘reassured’ on powers
ITALY – The president of pension regulator Covip said he was satisfied the agency will be given back full power of supervision on pension-related investments in spite of late legislation.
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PMI's Cobley becomes chairman of consulting firm
UK - Roger Cobley, the president of the Pensions Management Institute, has been appointed chairman of institutional consulting firm Stamford Associates.
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Italian bank seeks insurer for €85m pensions
ITALY – Italian bank Cassa di Risparmio di Parma e Piacenza SpA is looking for an insurance company for its €85m corporate pension fund.
