All IPE articles in November 2004 (Online) – Page 4
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IXIS, Dexia top E5bn French SRI market - report
FRANCE - Caisse d'Epargne’s IXIS Asset Management and Dexia Asset Management top the list of best-known players in the five billion-euro French Socially Responsible Investments market, a survey reveals.
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Royal Mail scheme seen eyeing bonds
UK - The 12 billion-pound (18 billion-euro) deficit-hit Royal Mail Pensions Scheme could invest more heavily in fixed income amid a doubling of the group’s pension bill, reports have stated.
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Capital Group “world’s finest” – Greenwich (correct)
(Corrects name) GLOBAL – Reclusive asset management firm Capital Group is the best professional services firm in the world, according to the founder of consulting firm Greenwich Associates.
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UK’s Wicks eyes public sector and pension bill
UK – With the Pensions Bill likely to be approved today, pensions minister Malcolm Wicks has said that in the future public employees could be required to retire at 65 rather than 60.
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NAPF suggests interest-rate swaps discount rate
UK – The National Association of Pension Funds has suggested that pension liabilities should be discounted at a “risk free” rate derived from interest-rate swaps.
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Gartmore UK CEO Jones quits, may run own firm
UK – Glyn Jones, chief executive of Gartmore in the UK, has resigned, with group CEO Paul Hondros taking direct responsibility for the firm’s integrated business.
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Vanguard hires ABN Amro’s Nagel
NETHERLANDS – Ronald Nagel, former head of institutional sales at ABN Amro Asset Management, has joined Vanguard Investments.
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Italian railway scheme selects first managers
ITALY - Eurofer, the 104 million-euro pension fund for railway workers, has selected its first asset managers.
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British Airways warns on DC benefits
UK – Airline firm British Airways has said its new defined contribution pension scheme will not provide the same benefits as its established defined benefit schemes.
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Germany’s Deka in E1.9bn outflow
GERMANY - Deka Bank, Germany’s third-largest provider of institutional funds, or Spezialfonds, has admitted that outflows from its Spezialfonds totalled 1.9 billion euros in the first nine months of 2004.
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Dutch schemes ‘opting for top asset managers’
NETHERLANDS – Dutch pension schemes are increasingly concentrating their assets with the leading asset managers in their field, a new report claims.
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UK’s PPF could face huge hit if T&N winds up
UK – The Pension Protection Fund could be facing a huge financial hit if the trustees of the struggling Turner & Newall scheme decide on a delayed wind-up in the light of new government guidance, a leading pension analyst has said.
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Dutch associations to present governance plan
NETHERLANDS – The Dutch pension associations VB and OPF are to assess the current status of pension fund governance and present a joint plan of action to the Stichting van de Arbeid, or Labour Foundation.
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Benchmark-itis a problem, says Hewitt’s Ashton
UK - Pension funds do not need to rule out equities in their quest for returns, but must step away from "benchmark-itis", says Hewitt Bacon & Woodrow.
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European schemes cut govt bond allocations
EUROPE – With a third of continental European pension funds underfunded, schemes are cutting their government bond allocations, according to a survey from Greenwich Associates.
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Italy’s Generali ‘to benefit from pension reform’
ITALY - The Italian insurer Assicurazioni Generali SpA will capitalise from the pension reform in the medium term, says rating agency Standards & Poor’s.
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Czech pension funds earn 2 billion crowns
CZECH REPUBLIC - Czech pension funds saw their profits rise by 38 million crowns to 1.97 billion crowns in January - September 2004, according to data from the Association of Pension Funds (APF).
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UK opposition slams slow-motion pension disaster
UK - The opposition Conservative Party's pensions spokesman has called for an increase of the basic pension in a bid to revert means testing and disentangle sponsors from the “slow-motion disaster” of overregulation.
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IPE-QUEST: Swiss client tenders fixed interest
SWITZERLAND - Investment consultant Kieger has tendered 100 million francs (65.8 million euros) in fixed interest on behalf of a corporate treasury client via IPE-Quest.
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Netherlands' VB names new chairmen
NETHERLANDS - The Dutch Association of Industry-wide Pension Funds, the Vereniging van Bedrijfstakpensioenfondsen, has named two new chairmen.
