All IPE articles in May 2005 (Online) – Page 8
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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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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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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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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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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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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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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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IPE-QUEST: Dutch fund tenders €150m
NETHERLANDS – A Dutch pension fund has tendered three equity mandates totalling up to €150m via IPE-Quest.
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Rabobank pension fund yields 9.3%
NETHERLANDS - The pension fund of Dutch financial services group Rabobank made a return of 9.3% in 2004 – the same as 2003.
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German MPs under pensions scrutiny
GERMANY – Federal MPs should start paying for their own pensions immediately after the next election, says the Confederation of Taxpayers, or BdSt.
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Mellon loses $105m in sale of consulting arm
GLOBAL – Mellon Financial Corp. is selling its human resource-consulting arm for $40m (€31.9m) less than expected – resulting in a loss of more than $100m on the deal.
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Alfred Berg’s Finland MD Koskimies quits
FINLAND – Mikko Koskimies, managing director at ABN Amro’s Alfred Berg Asset Management arm in Finland, has quit with his deputy to join insurance group Pohjola.
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PensionDanmark to build apartments for rent
DENMARK - Danish industry-wide pension fund PensionDanmark is moving into residential property with a three-year programme to build apartments in three areas of Copenhagen.
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Davies to chair UK asset management association
UK – Simon Davies, chief executive of Threadneedle Asset Management, is to take over from Lindsay Tomlinson as chairman of the Investment Management Association.
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Breedon’s promotion leaves gap at LGIM
UK – Tim Breedon, group director of investments at Legal & General Investment Management, is to take over from L&G group chief executive David Prosser.
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New warning over schemes’ equity concentration
UK - UK pension funds’ tendency to expose themselves to a handful of FTSE companies could end with the collapse of some of the big names, says Hymans Robertson principal George Henshilwood.
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Morley to manage €145.3m for Kelda
UK - Morley Fund Management says it has been awarded a £50m (€72.6m) fixed income mandate and a £50m indirect property mandate by Kelda Group Pension Plan.
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Credit Agricole AM London chief leaves
UK – Ian McEvatt, chief executive of the London branch of Crédit Agricole Asset Management is to leave and be replaced by investment chief Bruno Crastes.
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Dutch ‘could miss out in pan-European market’
NETHERLANDS – The Netherlands could fall behind in the pan-European pensions market, an industry executive has warned.
