All IPE articles in October 2006 (Online) – Page 3
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Liechtenstein ends civil service scheme payments
LIECHTENSTEIN – Liechtenstein’s civil service pension scheme will no longer receive top-up payments out of the state budget, under new proposals.
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BP scheme backs Swedish venture fund
EUROPE – The £12bn (€17.4bn) BP Pension Fund has been named as one of the investors in the new InnKap 4 fund of Swedish venture capital firm InnovationsKapital.
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Dutch funds set up awareness campaign
NETHERLANDS – The €11.1bn Spoorwegpensioenfonds (SPF) pension scheme for railway workers is setting up a campaign to raise pension awareness among 25 to 35-year-olds.
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Germany considers private equity crackdown
GERMANY – The German government is considering penalising private equity firms which it believes serve little or no macroeconomic purpose as part of an upcoming private equity law, according to deputy finance minister Barbara Hendricks.
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German institutions get governance aid
GERMANY – US law firm Schiffrin & Barroway is launching a service for German-speaking institutional investors to help them monitor corporate governance at firms where they invest.
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British Coal Scheme appoints Watts, Read
UK – The £11.9bn (€17.6bn) British Coal Staff Superannuation Scheme has appointed Philip Read and Nick Watts as chairman and trustee director respectively.
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Pension fund “lemmings” into hedge funds – IMF
GLOBAL – Pension funds are going into hedge funds like lemmings, according to the International Monetary Fund’s research chief Raghuram Rajan.
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AP3 puts €215m into fundamental indexing
SWEDEN – The SEK196bn Swedish buffer fund Tredje AP-fonden, AP3, is putting an initial SEK2bn (€215m) into FTSE’s new Global Wealth Allocation fundamental index.
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New FTK parameters to hit premiums, expert says
NETHERLANDS - The new parameters for the financial assessment framework FTK, announced last week by De Nederlandsche Bank, could lead to up to a 6% increase in pension contributions, says pensions professor Guus Boender.
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Mercer launches multi-manager business in Europe
EUROPE – Mercer Global Investments (MGI) has formally launched its European multi-manager business from its Dublin office. At first it will target the UK and Ireland but it will seek to expand to continental Europe.
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ABP’s Van de Vaart joins Morley
REAL ESTATE – Morley has hired Paul van de Vaart from Stichting Penisoenfonds ABP to lead its real estate securities capability.
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SSGA’s UK head Duncombe replaced
UK – State Street Global Advisors’ UK managing director Paul Duncombe is leaving the company to be replaced by European marketing chief Kanesh Lakhani.
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UK’s PPF outlines investment principles
UK – The UK’s Pension Protection Fund has outlined its investment principles, highlighting a diversified, liability-driven approach with derivatives.
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Leicestershire tenders targeted returns
UK – The £1.9bn (€2.8bn) Leicestershire County Council pension fund is looking for a targeted or absolute return manager to invest 5% of its portfolio.
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OECD sees “vicious circle” of pension bond demand
GLOBAL – The Organisation for Economic Cooperation and Development says new accounting standards may have set up a “vicious circle” of bond demand from pension funds.
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Commission plans more legal action on IORP
EUROPE – The European Commission is likely to take more legal action against member states over the implementation of the European directive on occupational pension funds, a top official has said.
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New head at €8bn Novartis scheme
SWITZERLAND – Gino Pfister has stepped down as director of the Novartis pension fund, one of Switzerland’s biggest with CHF14.6bn (€8.6bn) in assets.
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Dutch FTK prompts investment changes – survey
NETHERLANDS – The new Financial Assessment Framework for Dutch pension funds, or FTK, has prompted changes in funds’ investment policy, a new survey has found.
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CSAM gets new institutional distribution head
EUROPE - Credit Suisse has appointed Lehman Brothers’ John Kremer as its new head of European institutional distribution for asset management.
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German fund association names property head
GERMANY – Fund industry association BVI has elected Bärbel Schomberg, chief executive of DEGI, as its chief spokeswoman for German real estate funds, including those for retail and institutional clients. The election was held at the weekend.
