All IPE articles in November 2005 (Online) – Page 4
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News
UK’s Bexley scheme eyes alternatives
UK – The trustees of the £360m (€525.9m) Bexley Council Pension Fund will meet on Wednesday to decide whether to diversify the fund’s 60/40 equity/bond split by investing in hedge funds and private equity.
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Hewitt’s Hammer joins Mercer
UK – Mike Hammer, a former senior consultant at Hewitt, has been appointed principal in Mercer Human Resource Consulting’s retirement business.
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Oslo Sporveier transfers €250m scheme
NORWAY – Oslo’s municipal public transport provider Oslo Sporveier has transferred its NOK2bn (€253.6m) pension scheme to Storebrand.
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Grafische’s Schapendonk joins AZL
NETHERLANDS – Dutch pension fund manager AZL has appointed Walther Schapendonk as director of investment services with a special focus on strategy and risk management among pension funds.
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Merchant Navy scheme reviewing JP Morgan
UK – The Merchant Navy Officers Pension Fund (MNOPF), worth close to €4bn, is currently in the process of a custodial review, IPE has learnt.
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State Street’s Conway returns to Boston
GLOBAL – Jeff Conway, State Street’s head of investor services in the UK, Middle East and South Africa, will return to Boston at the end of the year to take up the new role as head of executive operations, strategy and investor relations.
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Storebrand wins €3.2bn Gjensidige brief
NORWAY – Storebrand Investments has won a NOK25bn (€3.2bn) asset management mandate covering the majority of Gjensidige Forsikring’s investment portfolio.
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Watson Wyatt names Paris benefits head
FRANCE – Watson Wyatt has named Jean Kimmel as new benefits practice leader at the firm’s Paris office with immediate effect.
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Custody boosts Dexia results
EUROPE - Assets in custody and financial management have contributed to the increased results of Dexia Bank, the Belgian/French financial group announced in its third-quarterly report.
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IPE-QUEST: North American equities tendered
DENMARK - Kirstein Finans has tendered around $100m (€85.4m) in active North American small/mid-cap equities via IPE-Quest.
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Spezialfonds gain €33bn inflow, BVI says
GERMANY – Investor inflows to German institutional funds (Spezialfonds) totalled €33bn in the year to September 30, bringing the total volume of these funds to €613bn, according to German fund industry association BVI.
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NAPF Conference: trustee reluctance ‘disaster’
UK – The NAPF has been told by a leading pension consultant that the increasing level of trustee departures from pension funds is “a disaster”.
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F&C’s investment chief Broccardo exits
EUROPE – F&C’s chief investment officer Tony Broccardo has been unexpectedly replaced by alternatives chief Fernando Ribeiro.
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German book reserves hit by insurance costs
GERMANY – German companies that finance their pension liabilities via book reserves have been hit by a sharp increase in costs to insure corporate pensions against insolvency.
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Tabaksblat Code needs refining - Eumedion
NETHERLANDS - The Tabaksblat corporate governance code needs refining to make listed companies stick to its principles, said Eumedion, the foundation for corporate research for pension funds, formerly known as SCGOP.
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Pictet names Northern Europe sales chief
EUROPE – Gerrit Van Gorp, former senior director and head of credit derivatives at Dow Jones Indexes, has been appointed by Pictet Asset Management to be its new head of business development for Northern Europe.
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Former DNB pension supervisor joins Mercer
NETHERLANDS – Rein van Dam, a former director of pensions supervision at De Nederlandsche Bank, has joined Mercer Human Resource Consulting.
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Insurers want level playing field in pensions
EUROPE - The European insurance association has called for a "level playing field" for all operators in the second and third pillars of the pension system.
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CEIOPS rules out separate pensions committee
EUROPE – CEIOPS chairman Henrik Bjerre-Nielsen has ruled out the need for a separate EU committee on pensions – despite the group’s current focus on the Solvency II project for the insurance industry.
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UK actuaries told to assess sponsor covenant
UK - The Actuarial Profession is urging actuaries to make formal assessments of the viability of companies which sponsor pension schemes.
