All IPE articles in October 2005 (Online) – Page 7
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DNB’s Wellink wary of rate impact on schemes
NETHERLANDS – Dutch Central Bank president Nout Wellink has said that the current market conditions and interest rates are not that comfortable for pension managers.
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Swiss schemes offered new bond fund
SWITZERLAND – Swiss pension funds are being offered a new bond fund that allows lower sensitivity to interest rates.
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MLIM hires Aegon UK credit head
UK – Merrill Lynch Investment Managers has appointed former Aegon Asset Management UK credit head, Daniel McKernan, as sterling credit fund manager.
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Troubled Alliance Capital gets NPRF boost
IRELAND – The National Pensions Reserve Fund has made its first move into emerging markets equities with a €142m investment via Alliance Capital Management, which has been under scrutiny from US regulators.
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State Street nabs Philips’ back office head
NETHERLANDS – State Street has hired Philips’ Pension Fund’s former back office head Jan van der Meijden as vice president, head of middle office services.
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Finnish postal scheme to be shut down
FINLAND - The roughly €400m pensions arm of Finland Posti - Finland Post Pension Fund - will be closed down following the outsourcing of its entire statutory and supplementary divisions to Ilmarinen Pension Co. and Pohjola Life respectively.
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IPE-QUEST: European insurer tenders $150m
EUROPE – A European insurance company has tendered $150m (€211.5m) in global emerging markets equities via IPE-Quest.
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BP facing strike over pension rights
UK – The Transport & General Workers’ Union (T&G) today announced a five-day walk out by 74 BP oil tanker drivers due to the “increasingly bitter dispute” surrounding pension rights.
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Vanguard loses out in Belgian court battle
BELGIUM – A Belgian court has ordered Vanguard, the $850bn (€710bn) mutual fund company, to pick up a damages tab worth almost €400,000 following defeat by former European marketing assistant director Henk Beets.
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Singer & Friedlander CEO Shearer exits
UK – Tony Shearer is to leave as chief executive of Singer & Friedlander following the acquisition of the firm by Iceland’s Kaupthing.
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T. Rowe's vice chairman Riepe to retire
GLOBAL - Jim Riepe is to retire as vice chairman of asset management firm T. Rowe Price - with his responsibilities shifting to Edward Bernard.
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French reserve fund confirms private equity plan
FRANCE - The €24.8bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has confirmed it will look for private equity asset managers for Europe and North America by the end of the year.
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Schering puts extra €450m into external fund
GERMANY – Pharmaceuticals company Schering has removed another €450m in pension liabilities from its balance sheet so that they can be financed by its contractural trust arrangement (CTA).
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Watson announces five client wins
EUROPE – Consulting firm Watson Wyatt says it has won five new clients recently.
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Dutch funds' AlpInvest in €550m spin-off
NETHERLANDS - AlpInvest, the private equity house owned by ABP and PGGM, is to spin off its buy-out team into a new company.
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UK says new rules to save schemes £10m
UK - The Department for Work and Pensions says new "bulk transfer" rules will save smaller schemes around £10m (€14.7m) a year.
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European ETFs on the up with launches, AUM
EUROPE – The European exchange traded fund market got a double boost today from Morgan Stanley and Barclays Global Investors.
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Swiss association in guaranteed return plea
SWITZERLAND – Pension fund association ASIP has urged the government to lower the guaranteed return on pension contributions, insisting that the move is critical to improving the financial health of its members.
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Mn Services eyes European, UK expansion
EUROPE – Dutch pension group Mn Services is considering expanding out of its home market – possibly into the UK and elsewhere in Europe.
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IPE to host online pensions symposium
EUROPE – Investment & Pensions Europe magazine is to host an online symposium on European occupational pensions next month.
