All IPE articles in May 2005 (Online) – Page 6
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Russell advises on conflicts amid SEC probe
US - Russell Investment Group says it has started providing its US consulting clients with a document which addresses its potential conflicts of interest.
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Schemes “woefully” short of bonds - PIMCO
GLOBAL - Pension funds are “still woefully” short of bonds to offset their liability risks, says the European head of Allianz’s US-based fixed income arm PIMCO.
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German BVI sees no need to regulate hedge funds
GERMANY - Fund industry association BVI has urged the government not to tighten regulation of hedge funds active in Germany, arguing that current rules are sufficient.
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Deutsche CEO hails pension fund investors
GERMANY – Josef Ackermann, chief executive of Deutsche Bank, has highlighted the role played by the bank’s owners such as pension funds.
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London Stock Exchange moves out of equities
UK – The London Stock Exchange has confirmed that its closed £191.5m (€278.5m) defined benefit pension scheme is switching out of equities and into bonds as it seeks to redress a deficit.
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IPE-Quest: Swiss scheme tenders US equities
SWITZERLAND – A Swiss pension Fund has put out a request for tender for actively managed US small- to mid-cap equities via IPE-Quest.
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Crédit Agricole, Caisse Nationale in custody tie
FRANCE – Crédit Agricole Group and the Caisse Nationale des Caisses d’Epargne are in talks to combine their securities services businesses.
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Watson Wyatt questions TAA overlay
GLOBAL - Consulting firm Watson Wyatt has queried the use of tactical asset allocation, saying the evidence to support TAA is "mixed", especially when used to overlay a total fund.
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Dutch party proposes pension age of 67
NETHERLANDS - Boris Dittrich, the chairman of the centre liberal D66 party, the third party in the Dutch government, has proposed raising the pension age from 65 to 67 within the next 25 years.
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AWD sees boom in German corporate pensions
GERMANY – Financial services firm AWD says it is seeing a “boom” in company pensions as well as higher demand for new pension products.
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French reserve fund in SRI move
FRANCE – The French reserve fund, the Fonds de Réserve pour les Retraites, has made progress in its move towards socially responsible investing.
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IPE-Quest: Swiss manager tenders €150m
SWITZERLAND – A Swiss asset manager has tendered the management of a €150m quantitative global equities portfolio via IPE-Quest.
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Watson Wyatt names German investment head
GERMANY - Watson Wyatt’s Munich office has hired a senior manager from investment consulting firm FERI to head its German investment consulting team. (Updates with Watson comment.)
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Italian banks OK pension compensation fund
ITALY – The Association of Italian Banks has agreed to the launch of a fund to compensate employers who chose to pay employees’ severance pays to pension funds.
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AXA loses €16.7m Age Concern mandate
UK – AXA Sun Life Investment Management has lost a mandate worth about £11.5m (€16.7m) to Schroder Investment Management at the pension scheme of the Age Concern charity.
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Schlumberger admin staff join Watson Wyatt
UK - Oil services firm Schlumberger has transferred the administration of its UK pension scheme to Watson Wyatt, resulting in the transfer of up to five staff to the consulting firm.
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UK €8.7bn scheme transferring to Dublin CCF
UK – A £6bn (€8.7bn) UK-based pension fund is being transferred into a Dublin-domiciled Common Contractual Fund, according to a report from the Investment Management Association.
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EBRD says close to agreement on pensions
EUROPE – The European Bank for Reconstruction and Development says it is close to an agreement with staff over changes to its retirement structure.
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Luxembourg insurance expert James Ball dies
LUXEMBOURG - It is with great regret that IPE announces the very sudden death of James Ball, head of insurance and employee benefit consultants JBI Deloitte in Luxembourg.
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Watson Wyatt names global benefits head
GLOBAL – Watson Wyatt Worldwide has named Gene Wickes as global director of benefits consulting.
