All IPE articles in October 2005 (Online)
View all stories from this issue.
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News
Watsons concerned for fund shortfalls
UK – Actuarial consulting giant Watson Wyatt has voiced concerns that the Pension Regulator’s proposals on how it intends operating under the new funding regime for DB schemes could leave more than 2,000 pension schemes facing funding difficulty and uncertainty.
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Regulator issues Pensionskassen SRI guidelines
GERMANY – So-called ‘deregulated’ Pensionskassen will have to create a supervisory board for their business and disclose to what extent, if at all, they are engaged in socially responsible investments (SRI).
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Shell Netherlands hit by strike over pensions
NETHERLANDS—A strike by employees of Shell Netherlands in protest at its pension proposals will bring the company’s downstream plants, including refineries and petrochemical plants, to a standstill this evening.
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London firms unready for MiFID says report
UK – More than two-thirds of London-based investment firms are not adequately prepared for the Markets in Financial Instruments Directive (MiFID) due to be implemented in November 2007, according to a research report released today.
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Hermes chooses Ortec ALM system
NETHERLANDS -- Hermes Investment Management has chosen consultancy and software developer Ortec as supplier of its asset liability management system, the Dutch company has announced.
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ABN Amro reports 6.5% rise in 3Q AUM
GLOBAL – Global banking group ABN Amro reported a 6.5% rise in assets under management to €173.2bn since the third quarter last year and a 3.7% increase on the quarter, and a 7.8% hike in the first nine months.
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Mn Services and Cordares in IT tie-up
NETHERLANDS – Dutch pension firms Mn Services and Cordares are cooperating on an IT centre – which could lead to closer cooperation between the two.
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Dutch schemes face €105bn shortfall – Watson
NETHERLANDS - Dutch pension funds are facing a combined shortfall of €105bn - taking into account full indexation for future inflation and salary rises – says Watson Wyatt Netherlands.
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Groups discuss future of Sweden’s Alecta
SWEDEN – Swedish labour and employer groups have started talks over a new ITP plan - which could see the €40bn occupational pensions firm Alecta open to competition.
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KAS Bank wins €75m VW brief
UK – Dutch securities services specialist KAS Bank says it has won a £51m (€75m) global custody mandate from the Volkswagen Group Pension Scheme.
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German government hails 2nd-pillar figures
GERMANY – The government has cheered the results of a new study showing that in mid-2004, around 60% of German salaried employees owned some type of corporate pension.
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IPE-QUEST: Four new searches on system
GLOBAL – There are four new searches – for pharmaceutical equities, developed market debt, convertible and investment grade bonds and eurozone debt – on IPE-Quest.
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Threadneedle unveils absolute return bond fund
UK – Threadneedle Investments has a fund for investors seeking to diversify their bond portfolios in the face of declining interest rates.
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SEB winning new institutional mandates
SWEDEN – Swedish financial services provider SEB has secured several new institutional mandates and achieved “greater market clout” in Germany, its interim report released today revealed.
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Blue Sky Group pension head van Holst leaves
NETHERLANDS – Willem van Holst is to be replaced as head of pensions at Blue Sky Group, which manages KLM’s pension assets, by Orpa Bisschop.
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Call for German schemes to adopt governance code
GERMANY – Professor Wolfgang Gerke, a financial expert who recently unveiled a corporate governance code for asset managers, has called for the code to be embraced by German pension funds.
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UK may face €5.9bn ECJ pensions payout
UK - The UK government may have to fork out £4bn (€5.9bn) of taxpayers’ money if the European Court of Justice finds it failed to adequately cater for workers who lost pensions due to insolvency between 1997 and April 2005.
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CalPERS CIO Anson to take over at Hermes
UK – Mark Anson, the chief investment officer of CalPERS, is to take over from Tony Watson as chief executive of Hermes Pension Management, the asset manager owned by the BT Pension Scheme.
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Danes launch €70m public-private SRI fund
DENMARK - Nine Danish pension funds are to invest some €63m in non-listed companies in less developed countries in a public-private initiative under which the Danish government will share many of the preparatory costs.
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Aberdeen AM distributor eyes Libya
EUROPE – A joint venture partner of Aberdeen Asset Management is in dealings with the Gaddafi regime in Libya, it has emerged.
