All IPE articles in October 2004 (Online) – Page 5
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News
Dutch and Irish funds tap LGIM for indexing
EUROPE – Legal & General Investment Management has won new indexing business from pension funds in the Netherlands and Ireland.
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French reserve fund awards analysis brief
FRANCE – The 16 billion-euro Fonds de Réserve pour les Retraites has awarded a three-year execution analysis brief to Global Securities Consulting Services.
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UK‘s pensions department names head of strategy
UK – The Department of Work and Pensions has named Phil Wynn Owen as head of strategy and pensions client group director.
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INTECH set to sign up more European schemes
EUROPE – Janus Capital Group says its INTECH arm, which specialises in mathematically based portfolio investing, is set to sign up new European pension fund clients.
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Swedish debt agency calls for AP6 to be scrapped
SWEDEN - The Swedish National Debt Agency, Riskgaldenskontoret, has advised the government to scrap private equity buffer fund Sjätte AP-fonden, or AP6, and hand its 12.8 billion crowns (110 million euros) to the other five state buffer funds.
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European schemes eye currency overlay
EUROPE - Interest in currency overlay management is growing as pension funds seek to gain extra returns through investments with a low correlation with traditional asset allocation, industry figures have said.
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EFRP issues legal commentary on directive
EUROPE - The European Federation for Retirement Provision has published a legal commentary on the European Union's directive on occupational pension funds.
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ABP and PME report third-quarter returns
NETHERLANDS – Some of the largest pension funds in the Netherlands have reported third-quarter investment returns.
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BGI sets up US equity pension pooling vehicles
EUROPE - Barclays Global Investors says it has set up two pension fund pooling vehicles to provide a "tax-efficient solution to pooled investments in US equities".
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PGGM gets boost from oil-price gain
NETHERLANDS – PGGM, the second largest Dutch pension fund, made an 18.8% return on commodities in the third quarter of 2004 – but equities were down 0.7%.
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DeAM takes over E24.7bn Zurich assets
GERMANY - German institutional fund manager Deutsche Asset Management (DeAM) will take over 24.7 billion euros in assets currently held by the German arm of Swiss insurer Zurich beginning next January.
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Pinsents’ merger set to boost pensions team
UK – Law firms Pinsents and Masons say their planned merger will create one of the largest specialist pensions teams in the UK.
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Romania sets out 2005 pension measures
ROMANIA – The government has laid out the measures it will implement in 2005 to ensure pension sustainability.
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Higher pension premiums could cost jobs - CPB
NETHERLANDS - The CPB, the Netherlands Bureau for Economic Policy Analysis, has issued a report into the threat posed by population ageing – and warned about the impact of higher pension premiums.
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Austrian government approves contribution cuts
AUSTRIA - The Austrian council of ministers has approved its much-discussed plans for pension harmonisation, cutting contribution rates for civil servants.
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UK’s Turner joins Pensions Institute
UK – Adair Turner, the chairman of the Pension Commission which presented its first report this week, has joined the Pension Institute at the Cass Business School.
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Coal scheme appoints Scott
UK - Derek Scott, chairman of the board of the Stagecoach Group pension scheme, has become a trustee of the UK’s Mineworkers’ Pension Scheme.
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Schemes should look at emerging markets - study
GLOBAL – Pension schemes in the developed world should look at investing in emerging markets in the light of the shift to defined contribution, problems with PAYG and funding gaps, a study published by the International Monetary Fund argues.
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SPW taps State Street for fund accounting
NETHERLANDS – The 2.4 billion-euro Dutch housing association scheme Stichting Pensioenfonds voor de Woningcorporaties has expanded its relationship with State Street Corp.
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Mercer’s parent company MMC sued by Spitzer
US – March & McLennan Companies, the parent company of consulting firm Mercer, has been sued by New York Attorney General Eliot Spitzer in a corruption probe.
