All IPE articles in November 2004 (Online) – Page 7
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Pensions Trust hands iBoxx brief to Standard Life
UK - Standard Life Investments says it has been awarded a 75 million-pound (107.4 million-euro) corporate bond brief by the Pensions Trust, benchmarked against the iBoxx index.
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Mercer sees one more mega custody merger
EUROPE – The securities services industry has “significant” scope to concentrate further – with another ‘mega-merger’ possible, a report by Mercer Securities has said.
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Half of Dutch corporate funds to disappear - ING
NETHERLANDS – Roughly half of the 740 corporate pension funds in the Netherlands are set to disappear within the next five years, Dutch bank ING Group has warned.
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FRR to take on utilities’ E3bn pension assets
FRANCE - French pensions reserve fund, the Fonds de Réserve pour les Retraites, expects a cash injection of more than three billion euros next year as it takes on assets from France’s energy utility firms.
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Mercer retirement revenues flat as MMC cuts jobs
GLOBAL – Mercer’s retirement revenues were flat in the third quarter as its troubled parent firm Marsh McLennan Companies announced it would cut 3,000 jobs globally.
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Lane Clark names Fernandes’ replacement
UK - Actuarial consulting firm Lane Clark & Peacock has named PricewaterhouseCoopers' David Everett as head of pensions research.
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Germany’s Union targets institutions - interview
GERMANY - Union Investment, a manager of German institutional funds, or Spezialfonds, has set a goal of raising institutional assets under management in Germany by as much as one-third three years from now.
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TKP Pensioen wins Wegener admin deal
NETHERLANDS – TKP Pensioen, a subsidiary of life insurance giant Aegon, has won an administration contract with Dutch publishing house Wegener.
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Call for hedge funds to adopt code of conduct
GLOBAL – Managers dealing in unregistered hedge funds are being invited to adopt a draft code of conduct presented by the CFA Centre for Financial Market Integrity.
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Isle of Man OKs new pensions rules
ISLE OF MAN - The Isle of Man's parliament, the Tynwald, has approved the Retirement Benefits Schemes Regulations 2004, which require schemes operating in the island to register with the Insurance and Pensions Authority.
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PGGM welcomes last-minute pension deal
NETHERLANDS - PGGM, the 57 billion-euro pension fund for healthcare and social workers in the Netherlands, has welcomed a last-minute welfare reform deal struck between the Dutch government and its social partners at the weekend.
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PME cites single manager risk for F&C withdrawal
LONDON - PME, the 14 billion-euro Schiphol-based metal workers fund, has switched one billion euros of assets away from F&C Management to new providers.
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Blood and Gore set up London-based asset manager
UK – Former US Vice President Al Gore and former Goldman Sachs Asset Management CEO David Blood have set up a new London-based asset management firm targeting pension funds.
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Danish pension funds set up real estate “club”
DENMARK – Five top Danish pension funds worth around 45 billion euros have set up a real estate “club” to invest in European indirect property vehicles, says real estate firm Cushman & Wakefield Healey & Baker.
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EIB to issue 'longevity bond' for pension schemes
EUROPE - The European Investment Bank is to issue a 25-year 540 million-pound (775 million-euro) bond as part of a product designed by BNP Paribas aimed at protecting UK pension schemes against longevity risk.
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UK slated for new “knee-jerk” PPF proposals
UK – Observers have slated new government proposals relaxing the terms of the planned Pension Protection Fund, saying they are another “knee-jerk” reaction which could have knock-on costs.
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Deutsche offshore chief Fitzjohn retires
CHANNEL ISLANDS - Gordon Fitzjohn, global head of corporate services at Deutsche Bank International Ltd., the group’s arm that provides offshore banking and financial services capability, is to retire after 25 years with the bank.
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BNP Paribas boosts Spain securities services
SPAIN - BNP Paribas Securities Services has appointed the chief executive for the integrated securities services arm of Santander Central Hispano Investment SA as deputy general manager in Spain - a new role.
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Italy’s Solidarieta’ Veneto tenders for managers
ITALY - Solidarieta’ Veneto Fondo Pensione, the regional pension fund for blue-collar workers, is looking for three asset managers for its 60-million-euro fund.
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IPE-QUEST: UK house tenders Japanese equities
UK – A UK institutional investor has tendered 50-100 million dollars (71-143 million euros) in actively managed Japanese mid- or mid-and small-cap equities via IPE-Quest.
