All IPE articles in October 2006 (Online) – Page 10
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News
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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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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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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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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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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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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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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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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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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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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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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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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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.
