All IPE articles in October 2006 (Online)
View all stories from this issue.
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News
Metzler AM appoints JP Morgan’s Treppner
GERMANY – Metzler Asset Management has recruited Joachim Treppner from JP Morgan in Frankfurt to head up its master fund business. The appointment is effective from November 1.
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Deutsche ‘outsources pension advisory to India’
GLOBAL – Deutsche Bank AG, Germany’s largest bank, is outsourcing parts of its pensions advisory business to India, according to Bloomberg.
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PensionDanmark beats benchmark
DENMARK – PensionDanmark has reported a 3.6% return on investments in the third quarter, beating its benchmark by 0.3 percentage points.
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Eureko’s Poland row intensifies
POLAND - Eureko has withdrawn its four representatives from the management boards of Polish insurer PZU because of what it says is “ongoing harassment and intimidation” from fellow board members.
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UK board reviews buyout disclosure proposal
UK – The UK’s Accounting Standards Board is reviewing its proposal that companies should disclose how much it would cost to buy out their pensions.
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F&C hit by Vervoer withdrawal
NETHERLANDS – Dutch industry-wide transport fund Pensioenfonds Vervoer is to complete the withdrawal of its assets from F&C Asset Management following the appointment of Goldman Sachs as fiduciary manager.
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Swedish pension lending reaches 1.9% of GDP
SWEDEN – Net lending in the Swedish pension system – the Premium Pension Authority and the national buffer funds – has been put at SEK50bn (€5.4bn), or 1.9% of gross domestic product, by the government.
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ABP's Maassen re-elected EFRP chairman
EUROPE - Jaap Maassen, director of pensions at Dutch pension fund giant Stichting Pensionfonds ABP, has been re-elected chairman of the European Federation for Retirement Provision.
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Hampshire tenders advice on alternatives
UK – The £2.5bn (€3.7bn) Hampshire County Council Pension Fund is seeking advice on alternative investments. The tender follows an overhaul of the fund’s management structure from multi-asset to specialist mandates.
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European schemes in US shareholder rights plea
GLOBAL – Several major European pension funds are among the signatories of a petition to the US Securities and Exchange Commission (SEC) requesting more rights for shareholders in electing corporate directors.
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One share, one vote gets support
UK – The concept of ‘one share, one vote’ got backing from delegates and speakers at a conference on corporate governance organised by Institutional Shareholder Services.
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PGGM settling forex trades via CLS
NETHERLANDS – PGGM, the €77bn Dutch health care pension fund, is now settling foreign exchange trades via Continuous Linked Settlement through its use of the Misys Treasury Plus automated third-party trade notification service, the provider says.
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ABN Amro asset management quarterly profit slips
EUROPE - ABN Amro said third-quarter net profits at its asset management business fell 5.7% pct to €50m from €53m in the prior year period.
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FTSE 100 deficits fall to €62.8bn - Watson
UK – Pension deficits at blue-chip UK firms have declined to a four-year low of £42bn (€62.8bn) thanks to favourable investment markets, according to Watson Wyatt.
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UK pensions regulator names risk management head
UK – The Pensions Regulator has appointed Martine Trouard-Riolle as its permanent head of corporate risk management.
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Dutch regulator wary over collective DC
NETHERLANDS – Collective defined contribution (CDC), in a climate of limited interest in pensions and irrational decision-making, is not the cheapest option, argues an official at Dutch pension regulator De Nederlandsche Bank (DNB).
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Mercer enters asset management with MGI launch
EUROPE – Mercer says it is effectively entering the European asset management market with the launch of its multi-manager offering, Mercer Global Investments.
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German MEP attacks portability plan
GERMANY – Thomas Mann, a German MEP, has fired another broadside at the European Commission’s proposed pensions portability directive, saying that if it were enacted as is, it would seriously threaten occupational pensions in Germany.
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Paternoster CEO outlines “keys to success”
UK – Mark Wood, chief executive of Paternoster, has outlined what he terms the keys to the success of the new breed of pension buyout firms.
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AMF, Alecta announce c.5% returns
SWEDEN – Swedish pension institutions AMF Pension and Alecta have both today announced nine-month returns of around 5%.
