All IPE articles in October 2006 (Online) – Page 7
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News
Germany may ease hedge fund requirement
GERMANY – To boost German hedge funds, the government will likely end a Depotbank requirement for the funds, permit them to invest in property and ease investment restrictions on institutions, according to industry players.
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Insurers get leeway in Dutch Pensions Act
NETHERLANDS - Insurers will get extra leeway in implementing the new Pensions Act, Social Affairs minister Aart Jan de Geus has said.
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IPE-QUEST: Dutch fund tenders €50m balanced
NETHERLANDS – A consultant in the Netherlands has tendered a balanced mandate worth around €50m on behalf of a Dutch pension fund client via IPE-Quest.
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Pension Protection Fund seeks actuary
UK – The Pension Protection Fund is looking to recruit an actuary as well as six other posts, according to the PPF website.
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Pilots’ pension fund takes Aer Lingus stake
IRELAND – Airline Pilots’ Pensions, the pension scheme of Aer Lingus pilots, has bought a 2.12% stake in the Irish airline in an apparent effort to obstruct budget carrier Ryanair’s €1.4bn hostile takeover bid.
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PGGM mulls new structure to take on insurers
NETHERLANDS - Dutch health care pension fund PGGM is considering restructuring to take on insurance industry competitors, according to reports.
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Institutions become more active - NAPF
UK – Large pension funds are taking a more proactive approach to engaging with companies to maximise returns for scheme members, a new research by the National Association of Pension Funds (NAPF) reveals.
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Allianz merges institutional and retail units
GERMANY – Allianz Global Investors, which had been selling funds to German institutional investors under the dbi brand name, will, from 2007, abolish that brand as well as the dit brand for its retail funds.
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Portugal agrees pension reform
PORTUGAL – Portuguese state pensions are going to be indexed to the country’s economic performance and life expectancy under new reform plans.
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Siemens' Swiss pension manager released
SWTIZERLAND – Roland Rümmeli, the head of investments at Siemens Pensionskasse who was detained last month in connection with the Swissfirst affair, has been set free by authorities in Zurich.
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Institutional interest in hedge funds ‘to grow’
GLOBAL – Institutional flow into the hedge fund market will triple by 2010 to reach $1trn (€0.8trn), but only if returns continue to justify fees and higher risks and if managers can provide the quality demanded by institutions, according to new projections.
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Which London fund sues BP?
UK – Confusion about exactly which London pension fund is taking oil giant BP to court over alleged negligence has, hopefully, been cleared up.
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DB buyout firm Synesis hires from Watson, L&G
UK - New pension buyout firm Synesis Life has boosted its staff with hires from Watson Wyatt and Legal & General.
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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.
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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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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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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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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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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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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.
