All IPE articles in October 2005 (Online) – Page 6
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UK: Mercer to take on 21 Co-op pensions staff
UK – Twenty-one pensions administration staff of consumer cooperative the Co-op are to be transferred to Mercer Human Resource Consulting in an outsourcing arrangement.
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Finns change OECD pension data reporting
FINLAND - Finland’s ministry of social affairs and health has corrected its pensions data it presented to the OECD.
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Aegon aims to be major Polish pensions player
POLAND – Dutch insurer Aegon has stated that it wants to be “one of the leading players” in the Polish pension fund industry. This follows its acquisition of Polish life insurance company Nationwide TunZ in June.
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Portuguese pension stimulus gets go-ahead
PORTUGAL -- Tax incentives on employee contributions to defined contribution occupational pension schemes will be reintroduced.
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JP Morgan Chase assets rise 13% to $828bn
GLOBAL – Total assets under management at JP Morgan Chase surged to $828bn (€692bn) in the third quarter of 2005, up 13% since the third quarter of last year and up $45bn since June 30.
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Ex-Mercer partner appointed Hewitt consultant
UK – Hewitt Associates has hired former Mercer HRC European partner Jonathan Gainsford as consultant at the group’s UK retirement business practice.
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AMF names new bond head
SWEDEN – Bengt Björkén has been named head of bond management at AMF Pension.
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Pensions Trust names sales manager
UK – Occupational pension fund The Pensions Trust has appointed Phil Bradish as sales manager following an expansion and restructuring of its sales team.
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PGGM’s equities director Sol replaced
NETHERLANDS – Dutch health care fund PGGM has replaced Marjolein Sol as director of equities with Leo Lueb as of November 1.
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Dexia AM opens Stockholm branch
SWEDEN – Dexia Asset Management is opening a branch in Stockholm headed by Fredrik Wilkens from Key Asset Management.
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IPE-QUEST: Swiss fund tenders Japan equities
SWITZERLAND – A Swiss pension fund has tendered up to $70m (€58.4m) in Japanese equities via IPE-Quest.
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Funds to embrace independent research – McCreevy
EUROPE – European Commissioner Charlie McCreevy is confident that UK and European pension funds will embrace independent research.
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SPD’s Müntefering takes over pensions
GERMANY – Franz Müntefering, chairman of the Social Democrats, will replace Ulla Schmidt as the minister in charge of pensions in the new conservative-led government of Chancellor Angela Merkel, the SPD has confirmed.
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Ireland’s NPRF warned over conflicts of interest
IRELAND – Ireland’s €13.3bn National Pension Reserve Fund has been warned over potential conflicts of interests in its public-private partnership deals.
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JP Morgan European custody co-head Bourgi exits
EUROPE – JP Morgan’s European custody co-head Ramy Bourgi is to leave amid a restructuring of the division’s management.
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FRR’s invested assets return 15% in 2005 so far
FRANCE – The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has made a return of more than 15% on its invested mandates so far this year.
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Assets pulled from hedge fund-of-funds – HFR
GLOBAL – Investors pulled more than $1bn from hedge funds-of-funds in the third quarter, according to Hedge Fund Research which tracks the market.
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New pensions portability plan facing criticism
EUROPE – The European Commission’s new pensions portability proposal – officially unveiled today - has come in from criticism from several quarters.
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George Ross Goobey still backing equities
UK – Previously unseen papers from the late George Ross Goobey, the founder of the ‘cult of equity’ in the UK, are to be used to make a new case for the asset class at a lecture by his son.
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Greek bank staff fear pension job cuts
GREECE – Staff at the National Bank of Greece have opposed new plans for voluntary retirement fearing another mass staff exodus and increasing financial burdens.
