All IPE articles in October 2005 (Online) – Page 8
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German Pensionskassen to cut rate of return
GERMANY – Pension funds tied to German insurers are likely to reduce their guaranteed return on contributions to 2.25% in 2007 from 2.75% now.
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Italian schemes outperform TFR – regulator
ITALY - Italy’s complementary occupational pension funds have strongly outperformed the TFR, the severance pay system, so far this year - according to the pensions regulator Covip.
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UK pension buy-out growth inevitable – regulator
UK – More competition in the UK pension buy-out market is inevitable, says the Pensions Regulator.
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Universal sees slow demand for multi-management
GERMANY - Demand for multi-manager funds in Germany remains sluggish, partly because institutions want to influence the way their assets are invested, says Universal-Investment.
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GSAM consultant chief named as MD
EUROPE – Goldman Sachs Asset Management’s European consultant relations head Paul Richards has been promoted to managing director level at the firm.
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UK regulator to test powers against 17 companies
UK – The UK’s Pensions Regulator is looking to exercise its untested legal powers against 17 corporate sponsors that have purposefully attempted to avoid liabilities.
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SAM appoints new global marketing head
SWITZERLAND – Swiss sustainable asset management company SAM has appointed Eric Gelfgren as global head of marketing and sales.
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Janus names new CEO amid inflows
GLOBAL - Janus Capital has named investment head Gary Black to take over from chief executive Steve Scheid amid a recovery in asset inflows.
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Hewitt’s six dimensions of control for pensions
GLOBAL – Hewitt Associates has identified six areas where companies need to exert control of their global retirement benefits activities.
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Shell’s Dutch pension talks reach impasse
NETHERLANDS - The yearlong negotiations between Shell Nederland and the Dutch trade unions FNV Bondgenoten and CNV Chemie have reached an impasse.
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IPE-QUEST: Dutch scheme issues two tenders
NETHERLANDS – A Dutch pension fund has tendered up to $200m in pan-European and US small-cap equities in two separate briefs via IPE-Quest.
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Shell settles case with US retirement plans
GLOBAL – Oil giant Royal Dutch Shell has resolved its dispute with US retirement plans in a $90m (€74.1m) settlement.
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PIMCO says it wins Irish mandates
IRELAND – Fixed income manager PIMCO Europe says it has been awarded two mandates – one worth €60m – from the Unilever Superannuation Fund and the Allianz Group Pension Scheme.
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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.
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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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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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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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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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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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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.
