All IPE articles in November 2004 (Online) – Page 8
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Dutch schemes dismayed by new government plans
NETHERLANDS - Dutch pension funds ABP and PGGM have reacted with dismay to plans by the Dutch Ministry of Social Affairs to overhaul the country’s industry pension funds.
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Bank of NY boosts Milan office with hires
ITALY - The Bank of New York has boosted its Milan office with hires from BNP Paribas and Credito Emiliano in a bid “to exploit new opportunities in this growing market”.
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SocGen says markets, regulation prompted GSSI
FRANCE - French financial services group Société Générale has fleshed out the rationale behind its decision earlier this year to set up SG GSSI, Global Securities Services for Investors – citing market changes and European regulation.
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Sweden’s Alecta ahead of schedule on cost cuts
SWEDEN – Occupational pensions provider Alecta says its planned cost measures are going better than planned – and that it achieved a total return of 6.3% in the first nine months of 2004.
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Pictet senior partner Charles Pictet to leave
SWITZERLAND - Pictet & Cie’s senior partner, Charles Pictet, is leaving the company after 36 years to join the seven-member Swiss Federal Banking Commission (SFBC), the authority that controls the country’s financial sector.
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ABP buys stake in UK real estate firm
UK - ABP, the 150 billion-euro Dutch civil service pension fund, has acquired a minority stake in the UK-based student accommodation company Unite Group.
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Dutch schemes face government overhaul
NETHERLANDS - The Dutch Ministry of Social Affairs has proposed overhauling the Dutch industry pension funds along the lines of the models used – and now seemingly discarded - by corporate schemes such as Philips.
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Watson Wyatt & Co. sees lower pension design work
US – Washington-based Watson Wyatt & Co. says it foresees less than expected new pension plan design work in the 2005 fiscal year.
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Denmark’s ATP eyes US with future under debate
DENMARK – The 27 billion-euro statutory pension provision fund, ATP, is in the process of selecting asset managers as it enters the US mortgage-backed bond market.
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UK fund proposals adopt pension model
UK – New proposals on the governance of collective investment schemes – put together in the wake of the US market timing scandal - have been modelled on some elements of the existing pension disclosure code.
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IPE strengthens Netherlands coverage
NETHERLANDS – Investment & Pensions Europe, the leading magazine for European institutional investors, has strengthened its coverage of the Dutch market with the appointment of Danielle Rossingh as Dutch Editor.
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IPE-Quest has 13 searches worth E1bn
GLOBAL – Thirteen new searches worth more than a billion euros have gone live on IPE-Quest, IPE’s online mandate matching service, in the last few days.
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Fidelity hires PWC’s Bucksey for UK DC
UK - Fidelity Investments has continued its hiring spree with the appointment of PricewaterhouseCoopers’ Paul Bucksey as director of business development in its UK defined contribution business.
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Swiss schemes’ real estate allocation rising
SWITZERLAND – Swiss pension funds’ allocation to real estate has grown 50% in the last two years Credit Swiss Asset Management says.
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PGGM hikes pension premiums
NETHERLANDS – The 57 billion-euro Dutch health care pension fund PGGM has increased its premiums to 15.5% of gross salary for 2005.
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USS, PGGM group outline broker evaluation
EUROPE - A group of buy-side institutions that includes two of Europe's largest pension schemes, USS and PGGM, has outlined the criteria they will use to evaluate the performance of brokers.
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Italy’s Marco Polo tenders admin, depositary
ITALY - Marco Polo-Fond Pensione, the pension scheme targeting the 800,000-strong tourism sector, has tendered for a depositary bank and an administrative service provider.
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Pension pooling a way to “get rid of trustees”
EUROPE – Pension pooling by multinational companies may be a way for them to “get rid of” uncooperative local trustees, an industry conference has been told.
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Pension pooling market could be worth E1trn
EUROPE – The European pension pooling sector could be worth up to a trillion euros within five years, says a senior State Street executive.
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ING asset management profits rise 40%
EUROPE – ING says its operating profits from asset management rose 40.3% in the first nine months of 2004 - driven by the institutional asset management business.
