All IPE articles in October 2006 (Online) – Page 9
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Denmark’s ATP in €1bn hedging loss
DENMARK – The DKK371.5bn (€50bn) Danish supplementary pension scheme ATP has unveiled a loss of more than €1bn after tax on its hedging portfolio.
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UK’s PPF in “urgent” fund manager tender
UK – The Pension Protection Fund has issued a tender seeking asset managers for a range of asset classes as a “matter of urgency”.
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Chemie Pensionsfonds set to grow to €100m
GERMANY – Chemie Pensionsfonds, the pension fund targeted at employees in the chemical sector, will have around €100m assets by the end of 2006 but has no immediate plans to outsource investment, a member of its investment committee has told IPE.
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NewSmith gets $500m Wellcome Trust backing
UK - NewSmith Capital Partners, the asset management boutique set up in 2003 by former Merrill Lynch bankers, is to get $500m (€395m) in funding from the Wellcome Trust, the two said today.
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Dutch ice-skaters to get pension fund
NETHERLANDS – Dutch ice-skaters are to get a new pension fund if talks with provider Aegon succeed, a union official says.
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New EU official handling IORP directive
EUROPE – A new official has taken over at the European Commission’s internal markets department overseeing the implementation of the occupational pension fund directive.
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Management change at State Street in the UK
UK – There’s been some management changes at State Street in the UK.
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Aviva’s annuity sales fall 6%
UK – Insurance group Aviva has become the latest to warn about pricing pressure in the UK’s bulk annuities market after reporting a 6% decline in total annuity sales.
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RWE sets up €8bn pensions trust
GERMANY – Energy giant RWE has created an external fund known as a contractual trust arrangement (CTA) to finance €8bn worth of pension liabilities – one of the biggest ever on record.
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Man’s Fink sees pension longevity derivatives
GLOBAL – Stanley Fink, the chief executive of hedge fund company Man Group, says he expects pension longevity derivatives contracts to develop in the coming years.
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ECB sees pension fund-bank competition
EUROPE – Demographic change could prompt greater competition between pension funds and banks, says the European Central Bank.
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EFAMA director general exits after a year
EUROPE - Hugh Trenchard, director general of the European Fund and Asset Management Association, is stepping down after less than a year in the role.
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Smaller schemes chase ‘more liquid’ property
REAL ESTATE - Robin Goodchild, head of European investment at property firm LaSalle, this week urged large pension funds to invest directly in real estate and claimed smaller ones were re-thinking their lack of exposure.
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AMF, Alecta announce c.5% returns
SWEDEN – Swedish pension institutions AMF Pension and Alecta have both today announced nine-month returns of around 5%.
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Paternoster CEO outlines “keys to success”
UK – Mark Wood, chief executive of Paternoster, has outlined what he terms the keys to the success of the new breed of pension buyout firms.
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German MEP attacks portability plan
GERMANY – Thomas Mann, a German MEP, has fired another broadside at the European Commission’s proposed pensions portability directive, saying that if it were enacted as is, it would seriously threaten occupational pensions in Germany.
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Mercer enters asset management with MGI launch
EUROPE – Mercer says it is effectively entering the European asset management market with the launch of its multi-manager offering, Mercer Global Investments.
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Dutch regulator wary over collective DC
NETHERLANDS – Collective defined contribution (CDC), in a climate of limited interest in pensions and irrational decision-making, is not the cheapest option, argues an official at Dutch pension regulator De Nederlandsche Bank (DNB).
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UK pensions regulator names risk management head
UK – The Pensions Regulator has appointed Martine Trouard-Riolle as its permanent head of corporate risk management.
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FTSE 100 deficits fall to €62.8bn - Watson
UK – Pension deficits at blue-chip UK firms have declined to a four-year low of £42bn (€62.8bn) thanks to favourable investment markets, according to Watson Wyatt.
