All IPE articles in November 2006 (Online) – Page 10
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ISS sold to RiskMetrics
GLOBAL – Proxy voting agency Institutional Shareholder Services (ISS), globally the largest adviser to pension and mutual funds on casting shareholder votes, is to be sold for $553m (€434m) to RiskMetrics.
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Eurosif head of research Tagger leaves
EUROPE – Jerome Tagger, head of research at the European Social Investment Forum (Eurosif), has left and won’t be directly replaced.
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Complementa consultant Frei to leave
SWITZERLAND – Michael Frei, investment controller at Swiss pension consultant Complementa Investment-Controlling, is to leave the company on December 20, it was confirmed.
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Bolkestein slams Dutch funds over cross-border
NETHERLANDS - Dutch pension funds are endangering themselves by failing to take over company pension funds abroad, former EU commissioner Frits Bolkestein has said.
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Credit Suisse asset management profit down 21%
GLOBAL – Pre-tax profit at Credit Suisse’s asset management division fell 21% in the third quarter despite higher revenues and a CHF47bn (€29.6bn) increase in assets under management.
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North Yorkshire hands transition brief to Mellon
UK – The £1.2bn (€1.6bn) North Yorkshire County Council Pension Fund has awarded a £680m global equity transition management mandate to Mellon.
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Aon amends own UK and US pension funds
GLOBAL – Aon is planning to make changes to its UK and US defined benefit pension funds to save $60m (€47m) a year in a move that will affect almost 13,000 employees.
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Kempen chairman Wiet Pot steps down
THE NETHERLANDS - Wiet Pot, board chairman of merchant bank Kempen & Co has stepped down with immediate effect, the bank’s supervisory board has announced. He has been chairman at Kempen since 2004.
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Invesco recruits Wendt in Germany for pensions advance
GERMANY – Invesco’s German arm has recruited Thomas Wendt as its new specialist for pensions business. The appointment is effectively immediately.
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Storebrand boosted by Norway’s pension regulations
NORWAY – Following the introduction of mandatory group pension schemes in Norway earlier this year financial group Storebrand could secure 7,200 new mandatory occupational pension schemes, 3,350 of them in the third quarter.
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Swiss pension fund returns recover in third quarter
SWITZERLAND – Returns for Pensionskassen, rebounded strongly in the third quarter after a weak first half, according to calculations by WM Performance Services.
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Furlonger joins Aon for new EU consulting practice
EUROPE – Geoffrey Furlonger, who joined Aon Consulting Worldwide from Lombard International Assurance last month, will now head the new EU practice in Belgium.
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Myners Report up for joint review by NAPF and Treasury
UK - The 2001 Myners Report on pension funds is to be reviewed by the National Association of Pensions Funds and the Treasury next year.
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Attack on Dutch minister’s pensions policy ‘disaster’
NETHERLANDS – One of the leading figures in the Dutch pensions industry has issued a broadside against the Dutch government’s supplementary pensions policy.
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London’s SAUL director questions LDI costs
UK - David Bennett-Rees, trustee director at the Superannuation Arrangements of the University of London pension fund, has queried the costs involved in liability-driven investing.
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KBC eyes bonds, indirect real estate in LDI move
BELGIUM – The €850m KBC Pensioenfonds, the third largest scheme in Belgium, is shifting from direct to indirect real estate and revamping its bond portfolio as part of a liability-driven investing (LDI) strategy, its managing director says.
