All IPE articles in November 2006 (Online) – Page 2
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Hannover Re puts €3bn into foreign bonds
GERMANY – Ampega, the asset manager for German re-insurer Hanover Re, has confirmed that, on behalf of the re-insurer, it is awarding €3bn worth of investment mandates for non-European bonds.
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Swiss schemes increase foreign equity exposure
SWITZERLAND – The minimum holding for foreign equities among Swiss pension funds was raised from 1.61% to 5.10% over the last quarter, according to Credit Suisse.
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Ist-Investmentstiftung cuts domestic bonds
SWITZERLAND – Ist-Investmentstiftung, a major Swiss pension fund with CHF8.3bn (€5.2bn) in assets, has slightly increased exposure to equities and foreign real estate while cutting exposure to domestic bonds.
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UN recruits for pension fund
GLOBAL - The United Nations Joint Staff Pension Fund is recruiting senior managers for its real estate and fixed income allocations.
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UK tenders judges’ pension services
UK – The Department for Constitutional Affairs (DCA) has tendered salary and pensions payroll services for the judiciary, members of the European Parliament and senior political and public office holders.
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Buckinghamshire reviews Bank of New York
UK – The £1bn (€1.4bn) Buckinghamshire County Council Pension Fund is reviewing the Bank of New York as its custodian, it appeared today.
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ABP chairman Neervens dies aged 60
NETHERLANDS – John Neervens, chairman of the board at Dutch pension giant ABP, has died, the pension fund has announced on its website.
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New Dutch investment consulting firm launched
NETHERLANDS – Jacco Koopmans, a former senior investment consultant at Hewitt Associates in the Netherlands, has started his own investment consultancy firm.
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80% of UK funds to alter asset mix – Greenwich
UK – Greenwich Associates says 80% of UK pension funds plan to significantly alter their asset mixes in the next three years.
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NBIM looking for CFO, strategist
NORWAY – Norges Bank Investment Management, which runs the NOK1.5trn (€182bn) Norwegian Pension Fund – Global, is looking for a chief financial officer, a new role.
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Saxony-Anhalt passes pension fund law
GERMANY – The German province of Saxony-Anhalt has passed a law on the creation of a pension fund for civil servants. In neighbouring Lower Saxony the same idea brought forward by the Social Democrats found support among the unions.
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Strathclyde seeking transition manager
UK – Glasgow City Council is seeking a transition manager for the movement of assets relating to planned and future investment changes in its £8.8bn (€12.3bn) Strathclyde pension fund, the local authority announced today.
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Liechtenstein on track to implement EU directive
LIECHTENSTEIN – The law to bring Liechtenstein’s second-pillar pension funds in line with the European occupational pension funds directive goes into its second and third reading in the next weeks.
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Fortis eyes trustee governance
NETHERLANDS – International financial service group Fortis’ Dutch governance arm wants to educate pension fund trustees to take a more hands-on governing approach, the firm said today.
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PPF covers 98 pension schemes in first year
UK – The Pension Protection Fund (PPF) has already accepted 98 pension schemes into its assessment period since opening its doors in April last year, the organisation announced today.
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PGGM to give full pension indexation from next year
NETHERLANDS – PGGM, the €77bn Dutch health care pension fund, will apply full indexation to pensions from the beginning of next year, the fund announced today.
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Kingfisher picks PIMCO for fixed income brief
UK – European retailer Kingfisher has appointed specialist fixed-income manager PIMCO to run a £96m (€134m) segregated bond mandate for its €1.372bn (£864m) pension scheme.
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Union Investment leads asset managers’ Riester charge
GERMANY – Fund industry association BVI, which had previously railed against the so-called Riester pension, has reported a boom in the number of the pensions sold by its members.
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Browne appointed at Hibernian to head L&P leadership push
IRELAND – Dermot Browne has been appointed as Hibernian Life & Pensions new managing director, the Hibernian insurance group and one of the largest in Ireland, announced today.
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Two-thirds of Dutch institutional assets now invested abroad
The Netherlands - Two-thirds of Dutch institutional investors’ assets of €1,069bn has been invested abroad, Statistics Netherlands has disclosed.
