All IPE articles in September 2003 (Online) – Page 3
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“Astonishment” over Dutch early-retirement curb
NETHERLANDS – Dutch government plans to dissuade early retirement have been met with what one observer termed “astonishment”.
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ING targets pension funds with property fund
UK - ING Real Estate Investment Management is targeting pension funds with a new property fund of funds.
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Job cuts inevitable as Aberdeen buys EFM
UK – Aberdeen Asset Management has confirmed that it is buying Edinburgh Fund Managers for 36 million pounds (51.8 million euros).
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DB schemes should allocate zero to equities - UBS
UK/US – Defined benefit pension schemes should seriously consider the case of a zero allocation to equities, particularly in the case of indexed equities, says a report by UBS Investment Research.
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Investment consultants reject Myners’ criticism
UK – The investment consultants’ trade association has rejected Paul Myners’ attack on the industry’s “short-termist regime”.
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Corporate pension funds seen eyeing hedge funds
EUROPE – Corporate pension funds are changing their thinking about hedge funds, prompted by pension obligations being treated as debt, according to a new report by Morgan Stanley.
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Watson Wyatt queries PVK solvency proposals
NETHERLANDS – Consulting firm Watson Wyatt has criticised solvency testing proposals by the PVK, the Dutch pension fund and insurance watchdog.
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AP3 names European small/mid-cap managers
SWEDEN – The 129.7 billion Swedish-crown (14 billion-euro) Swedish national pension fund AP3 has made a 291 million-euro move into European small and mid-cap equities with the appointment of four investment managers.
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Actuaries slam UK’s pension protection fund
UK – The chairman of the Association of Consulting Actuaries has slammed the government’s plan to introduce a pensions protection fund, saying it will mark an end to final salary schemes.
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Retirement age the hot topic at CERP conference
ITALY – The age of retirement in Europe is the focus of a forthcoming conference organised by Italy’s Center for Research on Pensions and Welfare Policies, or CERP.
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Société Générale names deputy CEO at SGAM
FRANCE – Société Générale has named Alain Clot as deputy to SG Asset Management chairman and chief executive Philippe Collas.
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Russia authorises 55 pension fund managers
RUSSIA – The Russian government has authorised 55 private asset managers to run pension fund money as part of the new reforms, but financial benefits for the managers will not be seen for some time, says the head of one of the winning firms.
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Surrey scheme considers core-satellite approach
UK – Surrey County Council’s 950 million-pound (1.35 billion-euro) pension fund is reviewing the services and management of the scheme, and is considering a series of mandates.
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Deutsche Bank urges Germany to shift to DC
GERMANY – Deutsche Bank has outlined improvements for the German pension system including a move to defined contribution, and greater allowances for the new Pensionsfonds.
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BlackRock loses out at Ireland’s NTMA
IRELAND – US-based BlackRock has lost its pan-European active equity mandate at the National Treasury Management Agency, which runs the eight billion-euro Irish National Pension Reserve Fund.
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Bristol University pension scheme opts for SEI
UK – The University of Bristol pension fund has chosen SEI Investments to run the entire fund as it switches to a manager of managers strategy.
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Serbia to raise retirement age by five years
SERBIA – Serbia says it plans to raise the minimum retirement age by five years from the current “in a phased manner”.
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France: supplementary pensions on the agenda
FRANCE – The French social partners began meetings today to discuss the impact of France’s state pensions reform on supplementary pensions.
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Property helps match asset/liabilities – DeAM
UK – Deutsche Asset Management’s property arm says property can help institutions such as pension funds match liabilities with their assets.
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OPRA hosts whistleblower workshop
UK – The Occupational Pensions Regulatory Authority is to hold a workshop to explain new rules on reporting problems with pension schemes.
