All IPE articles in October 2005 (Online) – Page 8
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News
UK further delays new pension funding standard
UK – The UK government has decided to further delay new defined benefit scheme funding requirements until the end of this year, saying it’s important that it gets the regulations right.
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Pension consulting spared in Aon UK job cull
UK – Aon is to cut up to 750 jobs in the UK, although the human resources and pensions consulting business will not be heavily affected.
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IPE-QUEST: Danish fund tenders US large-caps
DENMARK – A Danish pension fund has tendered $100m+ (€82.6m) of US and Canadian large-caps via IPE-Quest.
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US-based Principal to open Munich branch
GERMANY – US fixed-income specialist Principal Global Investors plans to open a branch in Munich from January 2006.
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CACEIS’ branches in name change
EUROPE - The Luxembourg and Dublin branches of Crédit Agricole Investor Services Bank Luxembourg have changed their names to CACEIS Bank Luxembourg and CACEIS Bank Luxembourg Dublin Branch, respectively.
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Volvo Dutch scheme outsources to MN Services
NETHERLANDS – Stichting Pensioenfonds Volvo Car BV (VCBV) has agreed to outsource the management of a third of its total investment portfolio (€200m) to MN Services – the fund’s new fiduciary manager.
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Dutch insurers in spat with ABP, PGGM - paper
NETHERLANDS – Dutch insurers have accused the two largest pension funds ABP and PGGM of unfairly using their positions to actively market ‘levensloop’, or life-course, products to their members.
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Blow to Italian funded system as reform delayed
ITALY – The outlook for a funded pension system in Italy has been set back following a delay to the approval of the reform of the so-called Tfr system.
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Mercer embroiled in Austrian pension row
AUSTRIA – A row has broken out between Austria’s Financial Markets Authority and consulting firm Mercer over the implementation of the EU occupational pension directive.
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CEIOPS re-drafts pension supervision protocol
EUROPE – CEIOPS, the European pension supervisory committee, has amended a draft protocol on supervisory cooperation following criticism from the European Federation for Retirement Provision in particular.
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Consultant power ‘driving asset management M&A’
EUROPE – The increasing power of investment consultants and more activity from pension fund trustees are among the pressures that could lead to more mergers in the European asset management industry, PricewaterhouseCoopers says.
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Dutch SCGOP changes name and chairman
NETHERLANDS – The Dutch Foundation of Corporate Governance Research for Pension Funds, or SCGOP, has changed its name and plans to widen its membership.
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Swiss schemes buoyed by equities – Lusenti
SWITZERLAND - Buoyed by a strong performance from equity markets this year, Swiss private and public pension schemes had returns of 6.1% and 5.8% respectively in the first half, according to Lusenti Partners.
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Robeco names DNB’s Hoogduin as chief economist
NETHERLANDS – Robeco, the asset management arm of Rabobank, has named De Nederlandsche Bank’s Lex Hoogduin to succeed Jaap van Duijn as chief economist.
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European pooling set for lift-off – conference
EUROPE – Pension fund pooling vehicles are set for take-off in Europe despite a lack of tax harmony, according to a pension fund pooling conference held in London today.
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Railpen chief resisting flight to bonds
UK – Chris Hitchen, chief executive of the £15.5bn (€23bn) Railways Pension Trustee Co., Railpen, says that pension schemes’ shift to fixed income was an “overreaction”.
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German fund association BVI names chairman
GERMANY – Fund industry association BVI has elected Markus Riess, chief executive of dit, Allianz’s retail fund arm, as its new chairman for the next three years.
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EU mulls action over pension directive
EUROPE – The European Commission is considering taking action against member states over the transposition of the new directive on occupational pensions.
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Netherlands’ de Geus won’t touch pension rights
NETHERLANDS - Unless in case of ‘catastrophic circumstances’, Dutch social affairs minister Aart Jan de Geus won’t interfere in the acquired pension rights of the baby boom generation to benefit younger workers, he said.
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Austrian association seeks 2nd-pillar boost
AUSTRIA – Pension fund association FVPK has urged the government to do more to boost corporate pensions, noting that only one-fifth of all Austrian workers have access to this pension – one of the lowest rates in the EU.
