All IPE articles in November 2005 (Online) – Page 2
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UK regulator out of touch – Aon
UK – Educating the Pensions Regulator and investment are the two greatest challenges facing trustees at present, according to Aon Consulting’s chief actuary Donald Duval.
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Julius Baer facing client attrition – Moody’s
SWITZERLAND – Bank Julius Baer & Co. could be facing client “attrition” as it seeks to absorb the three Swiss banks and the GAM arm it is buying from UBS, Moody’s Investors Service says.
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Hoogovens splits investment portfolios
NETHERLANDS – The €5.3bn Hoogovens pension fund has introduced two investment portfolios to enhance transparency, as part of its solvency commitments.
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UK pensions reform hit by political row
UK – Chancellor Gordon Brown is at the centre of a political row having been accused of trying to stifle the pensions debate ahead of the release next week of the much-anticipated Turner report.
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Hermes’ Watson to join Witan Investment Trust
UK – Tony Watson, outgoing chief executive at Hermes Pensions Management, is to join the £1.4bn (€2bn) Witan Investment Trust as a non-executive director.
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IPE-QUEST: Danish fund tenders Japan equities
DENMARK – Kirstein Finans has tendered up to €100m in large-cap Japanese equities on behalf of a Danish pension fund via IPE-Quest.
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Italy’s Maroni rounds on unions amid TFR delay
ITALY – The Italian government has delayed the implementation of the TFR, or severance pay, reform until 2008 – two years later than planned.
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Northern, Nordea in manager-of-manager move
EUROPE – Northern Trust and Nordea have launched two manager-of-manager funds in Finland, with a view to rolling them out across Sweden, Denmark and Norway in the near future.
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Italy’s Previcooper looking for asset managers
ITALY - Previcooper, the €70m complementary pension fund for employees of Italy’s distribution cooperatives, is looking for at least three asset managers.
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Capital International targeting Eastern Europe
EUROPE – Capital International, the reclusive asset manager that has been hit by some client withdrawals recently, says Eastern Europe is an area of “significant potential and interest”.
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BGI’s Groenendijk joins Pensioenfonds Vervoer
NETHERLANDS – Barclays Global Investors principal Patrick Groenendijk has left to become head of investments at the €5bn Pensioenfonds Vervoer, the industry-wide transport sector pension fund.
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Wide variance seen in EU mortality assumptions
EUROPE – A new study has found a wide variation in mortality assumptions across the European Union.
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Allianz Global Investors names top execs
EUROPE - Allianz Global Investors has made some senior appointments as it unveils its new European subsidiary.
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UK minister sets five key tests for pension reform
UK - New pensions secretary John Hutton says any pension reform must past a five-point test.
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CEIOPS in pact with sister committees
EUROPE – CEIOPS, the European pensions and insurance supervisory committee has got signed a protocol of cooperation with its sister banking and securities committees.
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Bank of NY names European pensions head
EUROPE - The Bank of New York has named Robert Darmanin as head of European custody and pensions, taking over from Richard Beaven who has left the company.
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State Street fined $1.4m for trading violations
US – State Street has been fined a record $1.4m (€1.2m) by markets regulator NASD over violations in bond trade reporting.
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DeAM sees German pension market growth
GERMANY – Deutsche Asset Management has predicted that the German market for occupational and private pensions will expand to around €5trn in 2030 – or five times the current volume.
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Horeca in €100m private equity move
NETHERLANDS - The €2bn Dutch hotel and catering scheme, Pensioenfonds Horeca en Catering, has awarded two €50m private equity mandates to Goldman Sachs Private Equity Group and HarbourVest Partners.
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Watson Wyatt’s Eyre joins Mercer
UK – Mercer Human Resource Consulting has hired Watson Wyatt’s Peter Eyre as a principal based in London.
