All IPE articles in October 2006 (Online) – Page 7
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RBC Dexia Europe chief exits over strategy
LUXEMBOURG – Michel Malpas, chief executive of RBC Dexia investor Services, the joint venture’s primary operating arm in Europe, has left the company.
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Dutch postal scheme returns 5.1%
NETHERLANDS - Returns on equity and fixed income have largely contributed to returns of 5.1% of postal provider TNT’s pension fund during the third quarter, it announced.
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EDS names new treasurer to oversee pensions
GLOBAL – Computer firm Electronic Data Systems has named Anthony Glasby as its new corporate treasurer, a role which is responsible for pensions management worldwide.
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Morgan Stanley loses UK transport dept. mandate
UK – Investment manager Morgan Stanley Quilter (MSQ) has not been reappointed as fund manager of the UK’s General Lighthouse Fund (GLF), it emerged today.
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Dutch government confirms FTK requirements
NETHERLANDS – The Dutch Minister of Social Affairs Aart Jan de Geus will adopt some of the stricter FTK-requirements for the financial supervision of pension funds made by De Nederlandsche Bank.
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German institutions ‘asset allocations unchanged’
GERMANY – Insurers and pension funds plan virtually no change to their asset allocation during 2006, meaning that they will remain mostly invested in fixed income, according to a new study unveiled by private equity fund provider CAM.
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Prudential sees bulk annuities competition
UK – Prudential says there’s more competition in the bulk annuities market – and that it won’t budge on price.
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€30bn London fund merger proposed
UK – A new report will suggest merging London pension schemes into one or two funds with a combined value of approximately £20bn (€30bn), according to a newswire report.
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More details about ABP’s new Hong Kong office
NETHERLANDS – Dutch pension giant ABP, at €201bn Europe’s largest pension fund, has announced a launch date and the key executives for its new Hong Kong office.
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Germany’s FERI hails new shareholder MLP
GERMANY – Top executives at investment consultant Feri Institutional Advisors (FIA) have hailed the involvement of new majority shareholder MLP.
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India’s Tata would inject €188m into Corus fund
GLOBAL – Indian steelmaker Tata Steel says it would inject £126m (€188m) into the Corus pension fund as part of its multi-billion pound takeover bid.
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Towers Perrin opens office in Apeldoorn
NETHERLANDS – Consultancy firm Towers Perrin says it has opened an office in the Dutch town of Apeldoorn.
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Royal Mail scheme chairman joins Synesis
UK – Jane Newell, chairman of the £21bn (€31.3bn) Royal Mail Pension Plan, is to join the board of new pensions annuity firm Synesis Life as a non-executive director.
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Insight nabs Zurich’s Poll for institutional role
UK – insight Investment hired Jonathan Poll from Zurich Financial Services as a director of UK institutional business development.
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EU Commission report to analyse UCITS
BELGIUM – The European Commission’s Directorate-General for Internal Market and Services is looking to commission a €600k comparative analysis of investment funds in the European Union.
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BNP Paribas offers global custody to Swiss institutions
SWITZERLAND – French bank BNP Paribas’ Securities Services, the provider of securities services and investment operations solutions, has expanded its global custody service to Switzerland, the firm announced today.
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Dutch Kas Bank expands by hiring in UK
NETHERLANDS – TradeShare’s Andrew Caird has been appointed as KAS Bank’s London-based manager new business development institutional investors, in a move to increase its focus on the UK institutional market.
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Three UK LAs tender mandates totalling €400m
UK – Three local authority pension funds in the UK are tendering almost £400m (€550m) in Asia Pacific, global and UK unconstrained equity mandates.
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Irish fund servicing industry reaches $1.2trn
IRELAND – Over $1.2trn (€955bn) in funds were serviced in Ireland as at 30 June 2006. The industry grew 28% over the last year, according to Lipper Fitzrovia’s 12th annual Dublin Fund Encyclopedia.
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Dutch metal schemes discuss €51bn co-operation
NETHERLANDS – The Dutch metalworking industry is in discussions about closer co-operation, which could result in a new €51bn pensions provider, the industry-wide Pension Fund for the Metal and Electro-technical Engineering Industry, according to Metalektro, one of those heavily involved.
