All IPE articles in October 2006 (Online) – Page 8
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News
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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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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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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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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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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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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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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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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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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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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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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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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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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Pension funds back buyout firm Paternoster
UK – Traditional pension funds are among the shareholders of new pension fund buyout company Paternoster, says chief executive Mark Wood.
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Norway to transfer €36bn to state pension fund
NORWAY – The Norwegian government plans a net transfer of NOK308bn (€36.5bn) to the Government Pension Fund – Global in 2007, according to the budget announced today.
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Ireland’s NPRF re-awards €6bn passive mandates
IRELAND – The €17.5bn National Pensions Reserve Fund has re-awarded €6bn in two passive equity mandates to the incumbent managers Bank of Ireland Asset Management/State Street Global Advisors and Barclays Global Investors.
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DNB amends FTK parameters
NETHERLANDS – The Dutch pension regulator De Nederlandsche Bank has released new recommendations about the parameters for the new Financial Assessment Framework, or Financieel Toezichtskader (FTK), for pension funds.
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BGI’s iShares gets Germany head
GERMANY – Andreas Fehrenbach, the former chief executive of German asset manager Activest, has joined iShares, the exchange traded fund unit of Barclays Global Investors, as its new German head, effective immediately.
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Fortis sets up SRI centre in Frankfurt
GERMANY – Asset manager Fortis says it has created a new team in Frankfurt dedicated to socially responsible investing (SRI) amid significant investor demand for SRI in Germany.
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IMF queries quality of pension supervisors
GLOBAL – The International Monetary Fund has queried whether international pension supervisors pay enough to attract the best people.
