All articles by Robert Fuller
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Features
Swaption case study for pension funds
Partly as a result of the introduction of the new Financial Assessment Framework (Financieel Toetsingskader – nFTK), pension funds are monitoring interest-rate risk. An average Dutch pension fund has a duration mismatch between its liabilities and its fixed-income investments. Several solutions have been suggested which includes buying long-dated bonds, LDI-funds ...
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News
Russia considers new draft law on pensions
RUSSIA – A fourth draft law on pensions has been put before the State Duma, the Russian lower legislative house...
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Punter Southall wins £85m fund advisory brief
UK – Consulting actuary firm Punter Southall has won the mandate to administer and advise on the £85m (€135m) defined benefit (DB) scheme of Oxford Instruments, a medical and superconductive equipment provider....
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News
NeoNet connects equity platform to Euronext
EUROPE/US – Stockholm and New York based real-time electronic equity trading services provider, NeoNet, has connected to the Euronext exchange platform....
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Northern Trust in €125m Italian multi-manager win
ITALY – Northern Trust Global Investments (NTGI) has won a mandate to run four €125m seeded mutual funds for Italian banking group, Mediolanum.
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German pensions consultant registers with US SEC
GERMANY/US – Siemens Financial Services (SFS) pension advisory team has become the first German pensions consultant to be registered with the US Securities and Exchange Commission (SEC)....
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Swiss parliament rejects tax on pension funds
SWITZERLAND – The Swiss pension industry is confident the House of Representatives ( HR) will go the same way as the country’s lower house, which recently voted against levying stamp duty on the country’s domestic funds, says Peter Wirth of the Versorgeforum, the Swiss second pillar pensions forum.
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News
Soc Gen and Mellon in employee savings tie-up
FRANCE/US – Société Générale (SG) and Mellon Investor Services (MIS) have formed a partnership to manage employee stock option and shareholder plans for multinational US and continental European corporate issuers....
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Deutsche GSS hires new Italian client head
ITALY – Deutsche Bank (DB) have appointed Jean-Marc Crépin as head of customer management for its Global Securities Services (GSS) operations in Italy....
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£750m Cumbria fund picks Deutsche for custody
UK – The £750m (€1,199m) Cumbria County Council Pension Fund has appointed Deutsche Bank as global custody services provider for the scheme’s assets....
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Investia installs first European online platform
LUXEMBOURG – Financial services software provider, Investia, has installed its first European online fund processing platform at JP Morgan Investor Services in Luxembourg....
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Railtrack poser for pension fund investors
UK – It’s still too early to know if pension funds have a right to action in the collapse of Railtrack, the UK’s railway station and track maintenance group, says Robin Ellison, chairman of the pensions group at the London office of international legal firm, Eversheds...
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News
UK pension funds deserting equities
UK – FRS 17, the new accounting standard for pension funds in the UK is causing dramatic shifts in portfolio composition, says an equity research report by Deutsche Bank (DB).
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Call to extend employers’ stakeholder exemptions
UK – Fines totalling £10bn (€16bn) could be imposed on companies not meeting the new stakeholder pensions deadline of 8 October, claims David Willetts, the Conservative Party’s spokesperson for work and pensions issue, in a private report.
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Outsourcing management key trend on Continent
EUROPE – Institutional investors across continental Europe are increasingly outsourcing their asset management, according to the results of a soon to be published survey by Greenwich Associates(GA), the Connecticut based research and consultancy firm.
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Pensions part of German wage bargaining says aba
GERMANY – The recent collective bargaining contracts between the metal and chemical workers’ industry associations and their respective trade unions signal the beginning of a trend that is helping to reshape the German pension fund industry...
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News
AP3 completes first phase of €577m Asian mandates
SWEDEN – The initial tender period to find managers for the €577m Asia Pacific (ex-Japan) and Japan equity funds of the Third Swedish National Pension Fund, AP3, as put out in July, is now complete.
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News
Boadicea heralds all girl hedge fund management
UK – Europe’s first and only all female hedge fund management company, Deco Capital, has been launched, kicking off operations with the Boadicea fund...
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News
Mark moves from WM to head iBoxx in Frankfurt
GERMANY – David Mark has been appointed chief executive officer of iBoxx, the new fixed income indices joint venture company between ABN Amro, Barclays Capital, BNP Paribas, Deutsche Bank, Dresdner Kleinwort Wasserstein, Morgan Stanley, UBS Warburg and Deutsche Börse.
